Financialisation In Emerging Economies

Author : Juan Pablo Painceira
Publisher : Routledge
Page : 182 pages
File Size : 47,5 Mb
Release : 2021-10-27
Category : Business & Economics
ISBN : 9781317366645

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Financialisation in Emerging Economies by Juan Pablo Painceira Pdf

Since the beginning of the 2000s, emerging market economies, or middle-income countries, have embarked on major changes in their domestic financial systems. These changes – in which central banks have been key players – are shaped by the process of financialisation, which can generally be characterised by the dominance of financial considerations in the conduct of major agents (banks, non-financial corporations and households). As a consequence of the emerging markets crisis at the end of the 1990s, a new phenomenon in global financial markets emerged: a massive accumulation of foreign reserves in emerging economies. This has had important consequences for the global economy in which developed economies are the major beneficiaries. Based on Marxist political economy, this book studies the trends towards financialisation in emerging economies, focusing on the effects of the reserve accumulation in their international and domestic spheres. It argues that reserve accumulation has been the very catalyst of financialisation, being related to the subordinated position of emerging economies in the international monetary system. The chapters explore how these trends were exacerbated by the 2008 global financial crisis as well as the extraordinary monetary measures undertaken by the major central banks to deal with the effects of this. Foreign investors invested an enormous amount into emerging economies between 2010 and 2012 and emerging-market financial assets have doubled since 2008. To conclude, the book discusses how the US monetary policy normalisation has added more complexity to these trends since 2013 by putting pressure on emerging markets related to the level of global liquidity. This book provides essential reading for students and scholars of finance, economics and political economy who are interested in the unfolding of the subordinated financial integration of emerging economies into global financial markets.

Author : Domna M. Michailidou
Publisher : Springer
Page : 200 pages
File Size : 43,5 Mb
Release : 2016-04-29
Category : Business & Economics
ISBN : 9781137553645

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The Inexorable Evolution of Financialisation by Domna M. Michailidou Pdf

Since the 2007 financial crisis, discussion on issues related to the size, spread and frequency of financial crises has captivated a wide variety of audiences. Why has the world economy experienced such a marked increase in financial transactions and private and public indebtedness since the 1980s? How have middle-income developing countries suddenly become a part of this dynamic? And, most importantly, how has the topic of financial crises been featured in households’ daily discussions in both developed and developing parts of the world? Domna Michailidou addresses the questions above through exploring the inexorable evolution of financialisation into financial crisis through the examination of three middle-income countries: Mexico, Brazil and South Korea. Concentrating on emerging economies, and especially choosing three very different economies that all experienced financial crises in the 1990s, this book explores what lessons can be learnt regarding financial fragility, volatility and failure in the wake of capital market liberalisation.

Author : Domna M. Michailidou
Publisher : Palgrave Macmillan
Page : 200 pages
File Size : 55,8 Mb
Release : 2014-01-14
Category : Business & Economics
ISBN : 1349575941

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The Inexorable Evolution of Financialisation by Domna M. Michailidou Pdf

Since the 2007 financial crisis, discussion on issues related to the size, spread and frequency of financial crises has captivated a wide variety of audiences. Why has the world economy experienced such a marked increase in financial transactions and private and public indebtedness since the 1980s? How have middle-income developing countries suddenly become a part of this dynamic? And, most importantly, how has the topic of financial crises been featured in households’ daily discussions in both developed and developing parts of the world? Domna Michailidou addresses the questions above through exploring the inexorable evolution of financialisation into financial crisis through the examination of three middle-income countries: Mexico, Brazil and South Korea. Concentrating on emerging economies, and especially choosing three very different economies that all experienced financial crises in the 1990s, this book explores what lessons can be learnt regarding financial fragility, volatility and failure in the wake of capital market liberalisation.

Author : Gerald A. Epstein
Publisher : Edward Elgar Publishing
Page : 472 pages
File Size : 42,7 Mb
Release : 2005-01-01
Category : Business & Economics
ISBN : 1781008264

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Financialization and the World Economy by Gerald A. Epstein Pdf

The final section offers ideas for policy responses, including capital controls and securities transaction taxes."--BOOK JACKET.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 48,7 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1275126482

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The Financialisation of Emerging Economies by Anonim Pdf

Author : Domna M. Michailidou
Publisher : Palgrave Macmillan
Page : 0 pages
File Size : 53,9 Mb
Release : 2015-11-26
Category : Business & Economics
ISBN : 1137553634

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The Inexorable Evolution of Financialisation by Domna M. Michailidou Pdf

Since the 2007 financial crisis, discussion on issues related to the size, spread and frequency of financial crises has captivated a wide variety of audiences. Why has the world economy experienced such a marked increase in financial transactions and private and public indebtedness since the 1980s? How have middle-income developing countries suddenly become a part of this dynamic? And, most importantly, how has the topic of financial crises been featured in households’ daily discussions in both developed and developing parts of the world? Domna Michailidou addresses the questions above through exploring the inexorable evolution of financialisation into financial crisis through the examination of three middle-income countries: Mexico, Brazil and South Korea. Concentrating on emerging economies, and especially choosing three very different economies that all experienced financial crises in the 1990s, this book explores what lessons can be learnt regarding financial fragility, volatility and failure in the wake of capital market liberalisation.

Author : Agata Gemzik-Salwach,Krzysztof Opolski
Publisher : Taylor & Francis
Page : 202 pages
File Size : 43,8 Mb
Release : 2017-07-14
Category : Business & Economics
ISBN : 9781315281520

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Financialization and the Economy by Agata Gemzik-Salwach,Krzysztof Opolski Pdf

There can be no doubt that the influence of the financial sphere has intensified rapidly in recent years, but there is much debate about the effect of that influence. The aftermath of the Financial Crisis has led to numerous discussions of the phenomenon of so-called financialization: the increasing impact of financial institutions on the activity of all business entities; emerging threats related with dynamically developing financial markets and the growing importance of financial themes. In light of these issues, which appear in all economies and touch all entities and every area of economic activity, there is a need for a summary and evaluation of the role of financialization in the world today. This monograph presents the role of financialization in the modern world. It shows positive as well as negative effects of financialization on the stability of the whole economy, the functioning of different types of markets, activity of enterprises, state institutions and behaviours of households. Written by expert contributors, this book plays an important role in the debate concerning future directions of development of the financial sector and financial markets. Financialization and the Economy is of great importance to those who study political economy, macroeconomics and banking.

Author : Noemi Levy,Jorge Bustamante
Publisher : Routledge
Page : 272 pages
File Size : 43,9 Mb
Release : 2018-12-07
Category : Business & Economics
ISBN : 9780429874420

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Financialisation in Latin America by Noemi Levy,Jorge Bustamante Pdf

Financial capital continues to dominate Western economic organisations, despite major financial and economic crises. While these have not affected Latin American countries in the same way, other economic problems emerged after the reversion of loose monetary policies that debilitated the export-led growth model. This book discusses the issue of the financialised globalisation model in Latin America, looking at the region’s relationship with the international market. This edited collection is divided into three main sections. The first section discusses regional trends highlighting issues of trade and payments in financialised economies, the impact on deindustrialisation, its effect on inequality, external capital movements and monetary policies. The second section analyses the failure of comparative advantages of the export-led model in Colombia, Argentina and Mexico. Finally, the last section deals with the growth of financial balance sheets in small and developing economies such as Chile; how growth, investment and big corporation evolution were affected in Brazil and Mexico; and the effects of foreign exchange activity in Mexico. Through these discussions, this book aims to deepen the understanding of the crisis of financialisation and the export-led model, raising the question of whether it is possible for this model to continue or if it requires major readjustments to unfold economic growth. This book provides a distinctive analysis of the financialisation mechanisms in developing countries in order to emphasise affinities and differences between the countries of the region in productive and financial terms. It will be of great interest to economic and social science scholars and students, to journalists specialising on economic and development issues, and, more importantly, to policy makers.

Author : Ezgi B. Ünsal
Publisher : BRILL
Page : 293 pages
File Size : 46,7 Mb
Release : 2021-07-05
Category : Social Science
ISBN : 9789004462113

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Constructing Change: A Political Economy of Housing and Electricity Provision in Turkey by Ezgi B. Ünsal Pdf

In Constructing Change, Ezgi B. Unsal explores the commodification of social provision as a defining feature of modern world economy, by using the case studies of electricity and housing provision in Turkey.

Author : Todd A. Knoop
Publisher : Routledge
Page : 330 pages
File Size : 42,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780415501217

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Global Finance in Emerging Market Economies by Todd A. Knoop Pdf

This title focuses on the important characteristics of financial systems in emerging market economies and their differences from those in developed countries. The book surveys both theoretical and empirical research on finance in emerging economies, as well as reviewing numerous case studies.

Author : Toby Carroll,Darryl Jarvis
Publisher : Routledge
Page : 118 pages
File Size : 54,6 Mb
Release : 2018-11-07
Category : Social Science
ISBN : 9781317450825

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Financialisation and Development in Asia by Toby Carroll,Darryl Jarvis Pdf

Multilateral development agencies have increasingly focused on underdeveloped Asian countries as potential new sites for financial capital. Often referred to as ‘emerging markets’, these economies are seen as ripe for private sector investment and, at the same time, in need of foreign capital to support rapid industrialisation, modernisation and poverty reduction. This confluence of interests suggests a means for quickly closing the ‘development gap’, primarily through mobilising regulatory, institutional and governance reforms designed to reduce barriers to foreign capital, institutional inefficiencies and risks to investment, capital repatriation and market operation. Therefore, development agencies now encourage the construction of ‘enabling environments’ to support ‘market driven development’ through processes variously identified as ‘financialisation’, centring on the role of the market and private capital. While the state itself has historically occupied a central place in economic development, new financialised modes of development are increasingly marginalising the state, its influence in the economy and thus its ability to manage developmental outcomes. In this volume a collection of leading authors critically assess these developments, highlighting the emergence of financialised modes of development and their contested and often problematic nature. Drawing upon a series of case studies, the contributors explore not just the increasing use of financialised development initiatives, but assess critically their implications in terms of the emergent risks, costs and inequalities that often accompany them. This book was originally published as a special issue of the Asian Studies Review.

Author : I. Hardie
Publisher : Springer
Page : 220 pages
File Size : 41,9 Mb
Release : 2012-03-05
Category : Political Science
ISBN : 9780230370265

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Financialization and Government Borrowing Capacity in Emerging Markets by I. Hardie Pdf

Hardie investigates the link between the financialization – defined as the ability to trade risk – and the capacity of emerging market governments to borrow from private markets. He considers the government bond markets in Brazil, Lebanon and Turkey and includes interviews with 126 financial market actors.

Author : Philip Mader,Daniel Mertens,Natascha van der Zwan
Publisher : Routledge
Page : 564 pages
File Size : 55,8 Mb
Release : 2020-02-05
Category : Business & Economics
ISBN : 9781351390361

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The Routledge International Handbook of Financialization by Philip Mader,Daniel Mertens,Natascha van der Zwan Pdf

Financialization has become the go-to term for scholars grappling with the growth of finance. This Handbook offers the first comprehensive survey of the scholarship on financialization, connecting finance with changes in politics, technology, culture, society and the economy. It takes stock of the diverse avenues of research that comprise financialization studies and the contributions they have made to understanding the changes in contemporary societies driven by the rise of finance. The chapters chart the field’s evolution from research describing and critiquing the manifestations of financialization towards scholarship that pinpoints the driving forces, mechanisms and boundaries of financialization. Written for researchers and students not only in economics but from across the social sciences and the humanities, this book offers a decidedly global and pluri-disciplinary view on financialization for those who are looking to understand the changing face of finance and its consequences.

Author : Ilias Alami
Publisher : Routledge
Page : 236 pages
File Size : 42,8 Mb
Release : 2019-12-09
Category : Business & Economics
ISBN : 9781000769005

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Money Power and Financial Capital in Emerging Markets by Ilias Alami Pdf

This book provides a comprehensive investigation of the messy and crisis-ridden relationship between the operations of capitalist finance, global capital flows, and state power in emerging markets. The politics, drivers of emergence, and diversity of these myriad forms of state power are explored in light of the positionality of emerging markets within the network of space and power relations that characterises contemporary global finance. The book develops a multi-disciplinary perspective and combines insights from Marxist political economy, post-Keynesian economics, economic geography, and postcolonial and feminist International Political Economy. Alami comprehensively reviews the theories, histories, and geographies of cross-border finance management, and develops a conceptual framework which allows unpacking the complex entanglement of constraint and opportunities, of growing integration and tight discipline, that cross-border finance represents for emerging markets. Extensive fieldwork research provides an in-depth comparative critical interrogation of the policies and regulations deployed in Brazil and South Africa. This volume will be especially useful to those researching and working in the areas of international political economy, contemporary geographies of money and finance, and critical development studies. It should also prove of interest to policy makers, practitioners, and activists concerned with the relation between finance and development in emerging markets and beyond.

Author : Fatima Muhammad Abdulkarim,Abbas Mirakhor,Baharom Abdul Hamid
Publisher : Walter de Gruyter GmbH & Co KG
Page : 133 pages
File Size : 51,7 Mb
Release : 2019-11-18
Category : Business & Economics
ISBN : 9783110599404

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Financialization of the economy and income inequality in selected OIC and OECD countries by Fatima Muhammad Abdulkarim,Abbas Mirakhor,Baharom Abdul Hamid Pdf

Income inequality is a serious problem confronting not only the developed world but also developing countries. Recently, financialization has been one of the culprits identified in literature as one of the cause of income inequality. This book offers the only detailed presentation of the how financialization aided the spread of income inequality in Organization of Islamic Cooperation, OIC countries. Finance has taking a center stage in the affairs of most developing economies, surpassing the real sector of the economy. The result is the creation of an indebted society in which people are comfortable with financing their financial needs through credit. This creates a debt laden society that is trapped in the cycle of debt. This book represents a comprehensive and indispensable source for students, practitioners and the general public at large. It presents data which shows the buildup of debt and the rising income inequality in Muslim countries. It includes discussion of the rise in rentier income, financialization of everyday life, decline in physical capital accumulation and deregulation of the financial sector. The book therefore, proffers solutions on how Muslim countries can come out of the present economic problem facing them. The promotion and adoption of Islamic principles, which promotes risk sharing based contracts as against debt based transaction is the way to go. When financial contracts are based on the principles of risk sharing, any gains from economic activities get to be shared equitably. Hence, not only capital owners get to enjoy the benefit from the income derived from investments, but rather, all parties that partake in the contract. Distinguished by its clarity and readability as it is written in a very easy to understand language, it is an important reference work for any concerned individual interested on the recent causes of income inequality in Muslim World.