This study analyzes the problems of financial crisis and financial security through analysis of financial vulnerability which is an institutional flaw of capitalist financial structure and suggests implications. This study explains the characteristics...
This study analyzes the problems of financial crisis and financial security through analysis of financial vulnerability which is an institutional flaw of capitalist financial structure and suggests implications. This study explains the characteristics of financial security that are concentrated on the `financial dependency of economic development and dilemma of internal origination of financial crisis` situation. This study argues that socialization of investment is a means of securing financial security as a defense against structural financial vulnerability. It also emphasizes that the securing of a “Policy Space” for the contagion of the financial crisis is the securing means of financial security. Finally, I criticize two approach attitudes toward the economic and financial security that the security research camp has shown. One is about the nature of financial security as a sub-sector of economic security and the other is the view of financial security on economies-security nexus. This article argues for a departure from this attitude. It emphasizes that financial security can expand the horizon of financial security in the capitalist economic system through analysis of the complementary but exclusive structure of economic security and financial security, as well as securing its own domain and independence.