Financialisation Working Group
Financialisation refers to the phenomenon of finance playing an ever more significant role in economic life. This phenomenon is related to the structural transformation of capitalist economies and the accompanying social effects. In the wake of the crisis, this has become an increasingly prominent area of research in the field of political economy. Yet, there is still no broad consensus on the exact meaning of the term. Unsurprisingly, important analytical gaps and flaws have emerged. Many are yet to be addressed, both theoretically and empirically.
Panel: Financialisation: Theory and application
Session 1 — Track 2 — Room 4.25 — 10:30-12:30pm
Victor Kasper, Jr and Tamara Apostolou, Relations among the financial sector, productive sector and labor Market in the US: New Marxist Macroeconomic Simulations of the current US Crisis
Abstract Full Paper
Hendrik Van den Berg, Dealing with Financialization – Lessons from Ancient and Modern Societies
Emrah Karakilic Locating Financialisation
Abstract Full Paper
Raviv Or, Varieties of financialisation: constituting global finance one national institution at a time
Abstract Full Paper
Panel: Marxist Perspectives on Financialisation
Session 1 — Track 3 — Room 3.01 — 10:30-12:30pm
Alan Freeman A Correction to the Profit Rate for the Presence of Financial Markets: Implications for the Origins of the Present Great Recession
Abstract Full Paper
Sergio Cámara Izquierdo Financial Profits in the United States in the Neoliberal Financialisation: Theory and Empirics in a Marxist Approach
Flávio Ferreira de Miranda Theoretical tools to understand the current economic crisis: Marx law of value and the dynamics of fictitious capital
Panel: Financialisation and the Household
Session 2 — Track 2 — Room 4.25 — 13:30-15:30pm
Johnna Montgomerie, Are Households Financialized? An everyday economy account of financial change
Ana Santo and Nuno Teles, Household as financial asset holders in Europe
Robert Ogman, Financialization, the Economic Crisis, and Debt-Organizing Campaigns in the United States
Serap Saritas, Understanding the Individual Pension System in Turkey in the context of Financialisation
Abstract Full Paper
Panel: Financialisation and Banks
Session 2 — Track 3 — Room 3.01 — 13:30-15:30pm
Duncan Lindo, Banks and Derivatives: Making Markets for themselves
Abstract Full Paper
Annina Kaltenbrunner and Juan Pablo Painceira, Central Banks as Promoters of Financialisation: The British Experience
Abstract Full Paper
Antonia Settle, Central Banking in Fragile States: An examination of the State Bank of Pakistan’s management of external monetary relations under financialised globalisation
Abstract Full Paper
Panel: Financialisation and International Capital Flow
Session 3 — Track 3 — Room 3.01 — 15:45-17:15pm
Andrew Fischer, The Changing Grounds of Aid Effectiveness: the implications of aid as a financial flow amidst financialised global imbalances
Abstract Full Paper
Susan Newman, Finance and the [re]structuring of production; foregrounding production in the process of financialisation
Abstract Full Paper
Panel: Financialisation of Non-Financial Corporations
Session 4 — Track 3 — Room 3.01 — 9:00-11:00am
Annina Kaltenbrunner, Elif Karacimen, Juan Pablo Painceira, Paulo dos Santos, Financialisation in the Middle Income Countries: An Analysis of the Changing Investment and Financing Behaviours of Non-Financial Corporations in Turkey and Brazil
Abstract Full Paper
A.Celil KOÇ, Income Class Analysis in Non-Financial Firms as a Result of Financialisation Process in Turkey
Abstract Full Paper
Jeff Powell, Subordinate financialisation and the non-financial firm
Abstract Full Paper
Panel: Financialization in Middle Income Countries I
Session 5 — Track 3 — Room 3.01 — 11:15-12:45
Annina Kaltenbrunner, International and Domestic Financialisation in Middle-Income Countries: The Brazilian Case
Abstract Full Paper
Serdar Sengul, A Tale of Two Decades: Financialisation in Turkey and its Anomalies
Abstract Full Paper
Antoine Ducastel and Ward Anseeuw, Agriculture as an asset class: Financialisation of the South African farming sector
Abstract Full Paper
Panel: Financialization in Middle Income Countries II
Session 6 — Track 3 — Room 3.01— 13:30-15:00
Jo Michell, A Steindlian interpretation of the Chinese growth regime.
Abstract Full Paper
Derya Gultekin-Karakas and Fuat Ercan, Is Financialization a Form of Dependency or a Strategy for the External Financing Need of Productive Capital
Abstract Full Paper
Panel: Money and Finance
Session 3 — Track 2 — Room 4.25 — 15:45-17:15
Susana Martín Bemonte, A monetary system proposal based on Keynes’ ICU
Abstract Full Paper
George Labrinidis, The prospects of the quasi-world money standard
Panel: Financial aspects of Kaleckian economic analysis
Session 8 — Track 3 — Room 3.01 — 9:00-10:30am
Ewa Karwowski, The Dynamics of Competition and their Impact on Firm Finance
Abstract Full Paper
Bruno Bonizzi, Gross Capital Flows to Emerging Markets: Institutional Investors and the Post-Crisis Environment
Abstract Full Paper
Mimoza Shabani, Capital Market Inflation Theory: An Empirical Aproach
Abstract Full Paper
Panel: Euro Crisis – 1
Session 9 — Track 2 — Room 4.25 — 10:45-12:45pm
Jesse Hembruff, See No Evil, Financialized Shock Therapy in Greece
Sérgio Lagoa, Emanuel Leão, Ricardo Paes Mamede, Ricardo Barradas, Financialisation in the European Periphery and the Soverign Debt Crisis: The Portuguese Case
Aylin Soydan, The Core/Periphery Division in Europe in the Context of Financialisation
Abstract Full Paper
Konstantinos Konstantakis, Theofanis Papageorgiou and Panayotis G. Michaelides, On the Transmission of the Greek Crisis to the EMU: Testing for Financial and Structural Channels (2001-2012)
Abstract Full Paper
Konstantinos Konstantakis and Panayotis G. Michaelides, Credit Multipliers in a Crisis Economy: The Case of Greece (1960-2011)
Abstract Full Paper
Panel: Derivatives and the financialisation of the state
Session 9 — Track 3 — Room 3.01 — 10:45-12:45pm
Andrea Lagna, From finanza derivata to derivatives finance – how and why Italian municipalities got high on interest rate swaps
Abstract Full Paper
Reijer Hendrikse, Financial wizardry and the Golden City: Tracking the financial crisis through Pforzheim, Germany
Abstract Full Paper
Rodrigo Fernandez, How financial metrics took over a public university: An investigation into new forms, modes and mechanisms of financialization
Abstract Full Paper
Nicolas Canry, Jerry Epstein, and Bruno Tinel, Financialization and Public Debt: some indicators and mechanisms
Abstract Full Paper
Panel: The financialisation of commodity markets
Session 7 — Track 8 — Room 2.01 — 15:15-16:45
Sophie van Hullen, Term-Structure, Basis Volatility and Speculative Demand – Irregularities in cocoa markets
Abstract Full Paper
Annina Kaltenbrunner, Financialisation of Natural Resources: A Marxist Approach
Abstract Full Paper
Omid Rahmani, The fundamentals and financial investment in the World Soybeans Market; understanding “excess volatility”