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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

Abstract   Full Paper

 

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

Abstract  Full Paper

 

Flávio Ferreira de Miranda Theoretical tools to understand the current economic crisis: Marx law of value and the dynamics of fictitious capital

Abstract   Full Paper

 


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

Abstract  Full Paper

 

Ana Santo and Nuno Teles, Household as financial asset holders in Europe

Abstract   Full Paper

 

Robert Ogman, Financialization, the Economic Crisis, and Debt-Organizing Campaigns in the United States

Abstract    Full Paper

 

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

Abstract   Full Paper

 


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

Abstract   Full Paper

 

Sérgio Lagoa, Emanuel Leão, Ricardo Paes Mamede, Ricardo Barradas, Financialisation in the European Periphery and the Soverign Debt Crisis: The Portuguese Case

Abstract   Full Paper

 

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. MichaelidesCredit 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”

Abstract   Full Paper