Financialisation varied: a comparative analysis of advanced economies

The Effects of Financialisation and Financial Development on Investment: Evidence from Firm-Level Data in Europe

“…This increased financial orientation of US NFCs appears to be different with respect to firms' size, with smaller firms again being less involved in this process. The evidence at a microeconomic level supports the thesis for which the increasing interconnections between the financial flows of NFCs and financial markets are likely to have an adverse impact on the dynamic of physical accumulation Event though the available evidence depict financialization as a phenomenon common to almost all developing and developed economies, the different institutional settings at country or/and regional level reveal the presence of 'varieties of financialization' (Lapavitsas and Powell, 2013). More specifically, Karwowski and Stockhammer (2016) studied the effect of financialization in emerging countries (Asia, Africa, Emerging Europe, and Latin America) according to different measures (i.e.…”

Power, Intergroup Conflicts and Social Stratification in the United States: What has the Global Crisis Taught us?

“…However, a common trend across these five countries is that household indebtedness has increasingly been in the form of mortgage debt rather than consumer debt. Lapavitsas and Powell (2013) also show that this trend can be explained by the change in the lending structure of Western banks. In effect, since the 2000s loans were increasingly made to the non-productive sector of the economy, i.e.…”

“…Lapavitsas and Powell (2013) show that financialisation in advanced economies varied according to their institutional characteristics. For example, over the past thirty years, households in Japan, Germany and France tended to have a higher proportion of their savings in the form of deposits rather than market-based assets; the latter was more prominent in the case of the US and British households, whose savings were more prone to market volatility.…”

“…Weber (1905) provided the well-known argument linking materialism to the capitalist and protestant ethics as a source of financial success. The experience of financialisation in different countries has however been quite diverse (Lapavitsas and Powell 2013), which suggests that managerial and financial norms go beyond economic and religious values to include social identities. In effect, the masculinity (Knights andTullberg 2012, Connell andMesserschmidt 2005), intersectionality (hooks 1981, Nash 2008), stratification (Darity et al 2006, Mason 1996 and feminist (Nelson 1992, Meyers 2005 literatures, have stressed the importance of social identities in influencing economic interactions, and in particular how it affects the movement of income between social groups.…”

Financeirização do território e novos nexos entre pobreza e consumo na metrópole de São Paulo

“…Aalbers (2008) e Sokol (2013) propõem entender a financeirização como o deslocamento do capital dos circuitos primário, secundário e terciário para o circuito quaternário do capital, o qual não constitui um mercado de produção ou consumo, mas um mercado de especulação, ou ainda, um circuito de auto reprodução do capital. A financeirização coincide, nesta direção, com a afirmação do sistema financeiro enquanto uma esfera autô-noma de acumulação e a decorrente reestruturação da economia global em benefício de agentes hegemônicos dos mercados financeiros (Lapavitsas & Powell, 2013).…”