Financialisation in developing and emerging economies:
Manifestations, Drivers and Implications
Overview
The Special Issue aims to provide an assessment of the financialisation process in developing and emerging economies (DEEs). It invites contributions on the theoretical and empirical specificities of the manifestations, drivers and implications of this process in these economies. It encourages interdisciplinary work, both in theory and method, and is particularly interested in papers, which make a conceptual contribution to the literature.
The analysis of financialisation in DEEs is relatively novel (Bonizzi, 2013). It is rooted in earlier discussions about the risks of financial globalisation and liberalisation, including the Latin American Structuralist literature on the hegemonic role of the US dollar (Belluzzo, 1997; Braga, 1997; de Mello, 1997; Fiori, 1997; Miranda, 1997; Tavares, 1997; Tavares & Melin, 1997); the debate on capital account liberalisation and capital market integration (Cohen, 1996; Rodrik, 1998; Stiglitz & Ocampo, 2008; Strange, 1994); the Minsky-inspired currency and boom bust dynamics of financial crisis in developing economies (Arestis & Glickman, 2002; de Paula & Alves, 2000; Dymski, 1999; Kregel, 1998; Schroeder, 2002); and the critique of financial liberalisation and integration of DEEs (Akyuz & Boratav, 2005; Barbosa‐Filho, 2005; Crotty & Lee, 2005; Frenkel & Rapetti, 2009; Grabel, 2003; O’Connell, 2005; Palma, 1998; Taylor, 1998).
