Resumen

MOLINA DIAZ, Elda. The Financial Derivatives Market in the Last Fifty Years. Econ. y Desarrollo [online]. 2021, vol.165, n.2  Epub 09-Mar-2021. ISSN 0252-8584.

The article offers a brief account of the evolution of the financial derivatives market since the seventies of the last century and highlights the main changes that have taken place in it. These transformations respond to the need for capital to adapt to the new conditions and conjunctures of the capitalist economy in order to continue seeking its maximum yield. The changes refer fundamentally to the growth and dynamism of this segment of the financial market, to its innovative nature, to the increase in its complexity and, above all, to the fundamental purpose of most transactions. In practice, although the purpose of the transactions has not ceased to be risk hedging, the greatest weight is given to purely speculative transactions, which brings great volatility and instability to the markets and to the economy as a whole.

Palabras clave : risk hedging; financial crises; financial derivatives; financial markets.

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