Finance/security infrastructures

Goede, Marieke de

doi:10.1080/09692290.2020.1830832

Cited by 63 publications

(31 citation statements)

References 58 publications

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“…The analysis has further implications for the emergent research program on the infrastructure or 'plumbing' of global markets (Bernards & Campbell-Verduyn, 2019;Goede, 2021). This work provides a much-needed corrective to IPE's usual focus on states and global system governance.…”

Section: Introductionmentioning

confidence: 94%

Market self-organization and the invisible hand of politics in global risk-trading

Seddon

2021

Review of International Political Economy

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To absorb modernity's perils, insurers and reinsurers developed sophisticated collective risk sharing markets. The logic of pooling mega risks-pandemics, nuclear catastrophes, natural disasters, etc.-seemed obvious. In recent decades, however, this enduring market structure has been disrupted by the introduction of insurancelinked securities (ILS) and financial derivatives. This article presents a political account of the convergence between once-separate reinsurance and capital markets. The force driving change is a struggle for risk and price information: the protection of information by incumbent reinsurers and the search for information by capital market entrants. Large reinsurers in a position to bridge reinsurance and capital markets have been able to exploit the institutional discontinuities created in this battle. Disturbingly, as global risks escalate, the analysis explains why ILS markets have emerged sub-optimally, not efficiently, and the hollowing out of traditional reinsurance markets. More broadly, the argument develops a political conceptualization of market self-organization and structure. In this view, markets never spontaneously form as neutral fields of efficient exchange. Markets are always geared and distorted from within-through bitter internal conflicts among contending market groups bargaining over market organization and technical design, struggles that are political even if states remain peripheral to them-to produce distinctive global economic outcomes.

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Section: Introductionmentioning

confidence: 94%

Market self-organization and the invisible hand of politics in global risk-trading

Seddon

2021

Review of International Political Economy

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“…However, the study focuses more on technical mechanisms and does not address qualitative aspects. The infrastructure of financial security is also essential, namely, accessibility and cybersecurity conditions in which the financial market is located (Goede, 2021).…”

Section: Zhuravka Et Al (2021) Assessed and Projectedmentioning

confidence: 99%

Assessment and forecasting of Ukraine’s financial security: Choice of alternatives

Рекуненко

Zhuravka

Nebaba

et al. 2022

Problems and Perspectives in Management

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Financial security of a country is an integral part of its economic security and the basis of national security. The paper aims to assess and forecast the level of Ukraine’s financial security using two methodological approaches (the existing one and the authors’ elaboration) to choose the best alternative. The first one is based on the Methodology of the Ministry of Economy of Ukraine. The alternative one has been developed as a multiplicative model of non-linear convolution of relevant direct and indirect impact indicators, considering the opportunity and risk, which is based on a combination of a power function and the Harrington method. A database of input indicators was formed with further differentiation according to their impact on Ukraine’s financial security. The research results demonstrated that during 2013–2019 Ukraine’s financial security integrated index was cyclical and constantly changing. A comparison of the existing methodology and the developed model demonstrated a certain discrepancy between the obtained results. It was substantiated that the proposed multiplicative non-linear convolution model for assessing and forecasting the state’s financial security is more relevant, includes current indicators sorted by their direct and indirect impact, and adjusts them according to the risk of impact on overall security in the country.

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“…Financial infrastructure has long been viewed as the mundane technical ‘plumbing’ or ‘architecture’ of finance, forming the backdrop where the higher politics of ‘interest, ideas, institutions’ play out (Bernards and Campbell-Verduyn, 2019: 3). This paper views infrastructure as contextualized relations, in which financial infrastructures are inscribed with power and political meaning, and possess agentic capabilities in routing flows, structuring interactions and enabling functionalities (de Goede, 2020: 4). A closer scrutiny of the infrastructural qualities of platform finance enables the unpacking of the sociotechnical relations that underpin the interactions between actors, technological artifacts, knowledge and socioeconomic practices that make up the economic function of investing (Clarke, 2019).…”

Section: Financial Infrastructures Platforms and Platform Capitalismmentioning

confidence: 99%

Democratizing finance with Robinhood: Financial infrastructure, interface design and platform capitalism

Tan

2021

Environ Plan A

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It is widely claimed that financial technology democratizes financial access and promotes financial inclusion. This paper challenges this dominant narrative of financial technology using the popular US-based mobile investing platform Robinhood as a case study. Analyzing press articles on Robinhood and regulatory filings of online brokerages, the concepts of financial infrastructures and platforms are used to unpack the capitalist logics that drive the platform business model. Specifically, this paper shows how digital interface design plays a central role in Robinhood's articulation of investors into the stock markets, through its simple, minimalist app that keeps users engaged by the productive management of ‘frictions’. The ease of investing via platform-based brokerages has seen investors taking on greater amounts of risk. This paper argues that Robinhood's success is driven by the continued expansion of its user base using various interface design techniques. This allows platform capitalism to be enacted by extracting rent through various revenue streams, where higher rents are derived from more frequent and riskier trading behaviors. The narrative of democratizing finance as employed widely in the financial technology sector thus obscures the capitalist logics and predatory practices that underlie financial technology.

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Finance/security infrastructures

Cited by 63 publications

References 58 publications

Market self-organization and the invisible hand of politics in global risk-trading

Market self-organization and the invisible hand of politics in global risk-trading

Assessment and forecasting of Ukraine’s financial security: Choice of alternatives

Democratizing finance with Robinhood: Financial infrastructure, interface design and platform capitalism

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