Economic Development and Variegated Financialization in Emerging Economies

Authored by: Ewa Karwowski

The Routledge International Handbook of Financialization

Print publication date:  February  2020
Online publication date:  February  2020

Print ISBN: 9781138308213
eBook ISBN: 9781315142876
Adobe ISBN:

10.4324/9781315142876-14

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Abstract

One of the main strengths of financialization as a concept is its potential for interdisciplinary research (Aalbers 2015). In this spirit, the chapter brings together different debates from economic geography, political economy and heterodox economics, addressing the underlying structures and spatial sites of variegated financialization. The focus here is on the Global South, and specifically on emerging economies (EMEs), where financialization is acknowledged to take on a distinct character, shaped by the interaction of international and domestic forces. While the distinctiveness of financialization in EMEs has been discussed for some time, producing important studies on the changing nature of financial markets and institutions within specific countries (Rethel 2010; Correa, Vidal & Marshall 2012; Ashman & Fine 2013), there are few comparative accounts across a larger number of poorer countries or regions. 1

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