Financialisation in the European Periphery
Financialisation in the European Periphery

Author: Ana Cordeiro Santos

Publisher: Routledge

Published: 2020-09-03

Total Pages: 237

ISBN-13: 0429801416

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In many European countries, the process of financialisation has been exacerbated by the project of closer EU integration and accelerated as a result of austerity policies introduced after the Euro crisis of 2010–2012. However, the impact has been felt differently in core and peripheral countries. This book examines the case of Portugal, and in particular the impact on its economy, work and social reproduction. The book examines the recent evolution of the Portuguese economy, of particular sectors and systems of social provision (including finance, housing and water), labour relations and income distribution. In doing so, it offers a comprehensive critical analysis of varied aspects of capital accumulation and social reproduction in the country, which are crucial to understand the effects of the official ‘bail-out’ of 2011 and associated austerity adjustment program. The book shows how these have increasingly relied on deteriorating pay and working conditions and households’ direct and indirect engagement with the global financial system in new domains of social reproduction. Through its exploration of the Portuguese case, the book presents a general theoretical and methodological framework for the analysis of financialisation processes in peripheral countries. This text is essential reading for students and scholars of political economy, development, geography, international relations and sociology with an interest in examining the uneven mechanisms and impacts of global finance.

The New Oxford Handbook of Economic Geography
The New Oxford Handbook of Economic Geography

Author: Dariusz Wójcik

Publisher: Oxford University Press

Published: 2018-01-04

Total Pages: 1145

ISBN-13: 0191072176

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The first fifteen years of the 21st century have thrown into sharp relief the challenges of growth, equity, stability, and sustainability facing the world economy. In addition, they have exposed the inadequacies of mainstream economics in providing answers to these challenges. This volume gathers over 50 leading scholars from around the world to offer a forward-looking perspective of economic geography to understanding the various building blocks, relationships, and trajectories in the world economy. The perspective is at the same time grounded in theory and in the experiences of particular places. Reviewing state-of-the-art of economic geography, setting agendas, and with illustrations and empirical evidence from all over the world, the book should be an essential reference for students, researchers, as well as strategists and policy makers. Building on the success of the first edition, this volume offers a radically revised, updated, and broader approach to economic geography. With the backdrop of the global financial crisis, finance is investigated in chapters on financial stability, financial innovation, global financial networks, the global map of savings and investments, and financialization. Environmental challenges are addressed in chapters on resource economies, vulnerability of regions to climate change, carbon markets, and energy transitions. Distribution and consumption feature alongside more established topics on the firm, innovation, and work. The handbook also captures the theoretical and conceptual innovations of the last fifteen years, including evolutionary economic geography and the global production networks approach. Addressing the dangers of inequality, instability, and environmental crisis head-on, the volume concludes with strategies for growth and new ways of envisioning the spatiality of economy for the future.

Financialising City Statecraft and Infrastructure
Financialising City Statecraft and Infrastructure

Author: Andy Pike

Publisher: Edward Elgar Publishing

Published: 2019

Total Pages: 294

ISBN-13: 1788118952

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Financialising City Statecraft and Infrastructure addresses the struggles of national and local states to fund, finance and govern urban infrastructure. It develops fresh thinking on financialisation and city statecraft to explain the socially and spatially uneven mixing of managerial, entrepreneurial and financialised city governance in austerity and limited decentralisation across England. As urban infrastructure fixes for the London global city-region risk undermining national ‘rebalancing’ efforts in the UK, city statecraft in the rest of the country is having uneasily to combine speculation, risk-taking and prospective venturing with co-ordination, planning and regulation.

Profiting Without Producing
Profiting Without Producing

Author: Costas Lapavitsas

Publisher: Verso Books

Published: 2014-01-14

Total Pages: 417

ISBN-13: 178168197X

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Financialization is one of the most innovative concepts to emerge in the field of political economy during the last three decades, although there is no agreement on what exactly it is. Profiting Without Producing puts forth a distinctive view defining financialization in terms of the fundamental conduct of non-financial enterprises, banks and households. Its most prominent feature is the rise of financial profit, in part extracted from households through financial expropriation. Financialized capitalism is also prone to crises, none greater than the gigantic turmoil that began in 2007. Using abundant empirical data, the book establishes the causes of the crisis and discusses the options broadly available for controlling finance.

The Financialization of Housing
The Financialization of Housing

Author: Manuel B. Aalbers

Publisher: Routledge

Published: 2016-05-05

Total Pages: 184

ISBN-13: 1317361784

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Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.

Geofinance between Political and Financial Geographies
Geofinance between Political and Financial Geographies

Author: Silvia Grandi

Publisher: Edward Elgar Publishing

Published: 2019-12-27

Total Pages: 263

ISBN-13: 1789903858

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This edited collection explores the boundaries between political and financial geographies, focusing on the linkages between the changing strategies, policies and institutions of the state. It also investigates banks and other financial institutions affected by both state policies and a globalizing financial system, and the financial resources available to firms as well as households. In so doing, the book highlights how an empirical focus on the semi-periphery of the financial system may generate new perspectives on the entanglement between (geo) politics and finance.

Crisis Spaces
Crisis Spaces

Author: Costis Hadjimichalis

Publisher: Routledge

Published: 2017-11-08

Total Pages: 383

ISBN-13: 1317291093

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The financial malaise that has affected the Eurozone countries of southern Europe – Spain, Portugal, Italy and, in its most extreme case, Greece – has been analysed using mainly macroeconomic and financial explanations. This book shifts the emphasis from macroeconomics to the relationship between uneven geographical development, financialization and politics. It deconstructs the myth that debt, both public and private, in Southern Europe is the sole outcome of the spendthrift ways of Greece, Spain, Italy and Portugal, offering a fresh perspective on the material, social and ideological parameters of the economic crisis and the spaces where it unfolded. Featuring a range of case examples that complement and expand the main discussion, Crisis Spaces will appeal to students and scholars of human geography, economics, regional development, political science, cultural studies and social movements studies.

Key Concepts in Economic Geography
Key Concepts in Economic Geography

Author: Yuko Aoyama

Publisher: SAGE

Published: 2010-11-17

Total Pages: 290

ISBN-13: 144625982X

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"A comprehensive and highly readable review of the conceptual underpinnings of economic geography. Students and professional scholars alike will find it extremely useful both as a reference manual and as an authoritative guide to the numerous theoretical debates that characterize the field." - Allen J. Scott, University of California "Guides readers skilfully through the rapidly changing field of economic geography... The key concepts used to structure this narrative range from key actors and processes within global economic change to a discussion of newer areas of research including work on financialisation and consumption. The result is a highly readable synthesis of contemporary debates within economic geography that is also sensitive to the history of the sub-discipline." - Sarah Hall, University of Nottingham "The nice thing about this text is that it is concise but with depth in its coverage. A must have for any library, and a useful desk reference for any serious student of economic geography or political economy." - Adam Dixon, Bristol University Organized around 20 short essays, Key Concepts in Economic Geography provides a cutting edge introduction to the central concepts that define contemporary research in economic geography. Involving detailed and expansive discussions, the book includes: An introductory chapter providing a succinct overview of the recent developments in the field. Over 20 key concept entries with comprehensive explanations, definitions and evolutions of the subject. Extensive pedagogic features that enhance understanding including figures, diagrams and further reading. An ideal companion text for upper-level undergraduate and postgraduate students in economic geography, the book presents the key concepts in the discipline, demonstrating their historical roots and contemporary applications to fully understand the processes of economic change, regional growth and decline, globalization, and the changing locations of firms and industries. Written by an internationally recognized set of authors, the book is an essential addition to any geography student′s library.

Financialization and Strategy
Financialization and Strategy

Author: Julie Froud

Publisher: Routledge

Published: 2006-04-18

Total Pages: 416

ISBN-13: 1134314558

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Considering the recent impact of the capital market on corporate strategy, this text analyzes, through argument and supportive case studies, how pressures from the capital bull market of the 1990s and bear market of the early 2000s, have reshaped management action and calculation in large, publicly quoted US and UK corporations. Beginning with the dissatisfaction with classical strategy and its limited engagement with the processes of financialization, the book moves on to cover three detailed company case studies (General Electric, Ford and GlaxoSmithKline) which use long run financial data and analysis of company and industry narratives to illustrate and explore key themes. The book emphasizes the importance of company and industry narrative, while also analyzing long term financial results, and helps to explain the limits of management action and the burden of expectations placed on corporate governance. Presenting financial and market information on trajectory in an accessible way, this book provides a distinctive, critical social science account of management in large UK and US corporations, and it is a valuable resource for students, scholars and researchers of business, management, political economy and non-mainstream economics. short listed for the 2007 IPEG Book Prize

The Routledge International Handbook of Financialization
The Routledge International Handbook of Financialization

Author: Philip Mader

Publisher: Routledge

Published: 2020-02-05

Total Pages: 584

ISBN-13: 1351390368

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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.