The Politics of Financialization

Krippner, Greta R.; Lemoine, Benjamin; Ravelli, Quentin

doi:10.4000/regulation.12637

Cited by 23 publications

(9 citation statements)

References 12 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The most common understanding of financialisation is where finance becomes increasingly dominant in the economy in relation to production, with financial activities generating more value over time in comparison to trade and commodity transactions (Arrighi ; Christophers :273–275; Krippner :14, ; Labban :545; Stockhammer ). While the empirical hypothesis of the increasing global scale and scope of financialisation has been questioned by Christophers (, ) as has its epistemological and ontological dimensions (Christophers ), it is possible to show empirically that at an aggregate scale, both a greater quantity of interest‐bearing capital is produced over time, and a greater proportion of capital becomes interest bearing (Bracking :20–41).…”

Section: Phases In the Financialisation Of Nature And Climatementioning

confidence: 99%

Financialisation, Climate Finance, and the Calculative Challenges of Managing Environmental Change

Bracking

2019

Antipode

View full text Add to dashboard Cite

This article describes the emergent and unstable dispositif of climate finance that is being built from iterative experiments in climate finance provision. The article provides a periodisation of different phases of climate finance from the 1990s onward using examples from REDD+, ecosystem services, the Green Climate Fund, green bonds, and insurance‐based derivatives, and connects this periodisation to broader processes of financialisation. It analyses how climate finance projects incorporate competing systems of accounting denominated in carbon, natural capital, “green‐ness”, insurance risk and internationally transferred mitigation outcomes. The article argues that many accounting units are evident in current climate finance products, each loosely derived from a different phase in this periodisation. However, experiments in calculating time and value in climate finance continue, and although risk is being increasingly used to correlate different denominators of value, an overall solution for how climate change is to be accounted for in financial interventions remains elusive.

show abstract

Section: Phases In the Financialisation Of Nature And Climatementioning

confidence: 99%

Financialisation, Climate Finance, and the Calculative Challenges of Managing Environmental Change

Bracking

2019

Antipode

View full text Add to dashboard Cite

show abstract

“…Epstein (2005: 3), son otuz yılda, dünya ekonomisinde yaşanan değişimleri tartıştığı yazısında, finans sermayesinin rolü üzerine odaklanmaktadır ve değişen bu sosyo-ekonomik yapının neoliberalizm, küreselleşme ve finansallaşma tarafından karakterize edildiğini belirtmektedir. Kendi finansallaşma kavramının tanım ve özelliklerini, Krippner (2004)'in çalışmasındaki finansallaşma kavramının farklı yönelimlerini ele alarak oluşturmaktadır. Buna göre, finansallaşma açısından beş farklı yaklaşım bulunmaktadır.…”

Section: Finansallaşma Nedir?unclassified

“…İleri analizlerinde, finansal ve üretici kavramlarını ayrı ayrı ele alsa da, bir önceki tanımıyla yaklaşık olarak (kavramsal düzey hariç) aynı metodolojiye sahiptir denebilir. Krippner (2004)'in çalışması etrafında şekillenen beş kavramsal tanımlama sonucunda, Epstein (2005: 3)'e göre, finansallaşma şu anlama gelir: "…finansal güdülerin, finansal piyasaların, finansal aktörlerin ve finansal kurumların yerel ve uluslararası ekonominin işleyişinde artan rolü…". Epstein (2005)'e ek olarak, Krippner (2005: 176)'e göre, ayrıca, finansallaşmanın çıkarımlarını, sürmekte olan iki anlaşmazlık üzerinden ele alarak incelemek mümkündür: (i) modern şirketlerin/kurumların kimler tarafından yönetildiği sorunu; ve (ii) devletin otonomisinin/bağımsızlığının/özerkliğinin aşınması açısından küreselleşmenin rolü sorunu.…”

Section: Finansallaşma Nedir?unclassified

The Effects Of Financialization Process Of The Turkish Economy On The Labor’s Share

Tunalı¹,

Özdemir²

2017

İktisat Fakültesi Mecmuası / Journal of the Faculty of Economics

View full text Add to dashboard Cite

ÖzetBu çalışma, 1990-2011 arası, Türkiye ekonomisinin finansallaşması sürecinin, Gayri Safi Yurt İçi Hasıla (GSYİH) içinde emek payı üzerindeki etkisini araştırmaktadır. Türkiye'nin 1990 sonrası yükselişe geçen finans sektörünün reel yatırımları olumsuz yönde etkilemesi sonucu sermayenin finansal alana yönlendiği görülmektedir. Birikimin yapısındaki bu değişim özellikle reel kesimde yaşanan durgunluk sonucunda işsizlikte artışa neden olmakta ve işçilerin pazarlık güçlerinde azalışı beraberinde getirmektedir. Bu durum sermayenin GSYİH içerisindeki payını arttırmakla beraber emek payını tam tersi şekilde azaltan bir etki yaratmaktadır. Sıradan En Küçük Kareler (SEKK) yöntemi ile test edilen bu hipotez, Türkiye'nin 1990-2011 arası tam da bu yönde bir seyir izlediğini kanıtlamaktadır. Sonuçlar göstermektedir ki, finansallaşma verisi olarak kullanılan "Hisse Senedi Devir Hızı Rasyosu" ile "Emek Payı" verisi arasında negatif bir ilişki vardır. Ayrıca, istihdam ve gelir yaratabilecek reel faktörlerin emek payını olumlu yönde ve anlamlı bir şekilde etkilediği görülmektedir. Son olarak, pazarlık gücü değişkenleri bakımından işsizlik oranındaki artış emek payını azaltırken, sendikalaşma oranı ve grev sayılarındaki yükseliş emek payını olumlu yönde etkileyerek GSYİH içinde arttırmaktadır. AbstractThis study investigates the effects of financialization process of the Turkish economy on the labor's share in the Gross Domestic Product (GDP) over the 1990-2011 period. It is seen that the capital was tended towards to financial realms due the negative effects of the financial sector on the real investments of Turkey, which was started to increase after 1990s. This change in the structure of accumulation was especially led to an increase in the unemployment level and thereby a decrease in the bargaining power of labors following the ongoing stagnation process in the real sector. While this case creates positive effects on the share of capital in the GDP, it also causes to a decrease of the labor's share. This hypothesis, which is tested by the ordinary least square (OLS) method, proves that Turkey follows a very similar pattern in this direction over the 1990-2011 period. The empirical results show that there is a negative relationship between the labor's share and the stock market turnover ratio, which is used as a * Doç. Dr

show abstract

“…Financialization here includes "changes in management ideology that increasingly orient firms to financial markets (i.e. 'shareholder value')," "the growing influence of financial products, [and] the extension of debts in underserved communities" (Krippner, Lemoine, and Ravelli 2017). To understand the phenomenon of egg freezing, then, we need to not only focus on clinicians and patients, but also on the firms and financiers that shape this part of the reproductive bioeconomy.…”

Section: Introductionmentioning

confidence: 99%

The speculative turn in IVF: egg freezing and the financialization of fertility

Wiel

2020

New Genetics and Society

View full text Add to dashboard Cite

Although IVF and egg freezing have received much scholarly attention, the pivotal role of financialization in the fertility (preservation) sector remains understudied. This article discusses how processes of financialization have instigated a step-change in the organization of contemporary US IVF and why egg freezing is at the heart of a wider consolidating trend in the sector. The financialization of fertility, in this context, references the financial investments in a future in which ever more women freeze their eggs, the role of capital markets in establishing new clinical and commercial infrastructures through which egg freezing becomes accessible and the role of financial products in shaping both the stories and the streamlining of fertility treatments. Together, these developments signal a shift from reproduction to fertility in IVF, in which treatment is not aimed at having a child at present, but rather at the proactive management of a more speculative fertility throughout the life course.

show abstract

The Politics of Financialization

Cited by 23 publications

References 12 publications

Financialisation, Climate Finance, and the Calculative Challenges of Managing Environmental Change

Financialisation, Climate Finance, and the Calculative Challenges of Managing Environmental Change

The Effects Of Financialization Process Of The Turkish Economy On The Labor’s Share

The speculative turn in IVF: egg freezing and the financialization of fertility

Contact Info

Product

Resources

About