Financialisation, Underemployment, & the Disconnected Greek Capitalism

Giorgos Gouzoulis (), Panagiotis Iliopoulos and Giorgos Galanis
Additional contact information
Giorgos Gouzoulis: University of Bristol, School of Magagement

No 112, Working Papers from Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research

Abstract: Recent contributions within the disconnected capitalism literature argue that personal financial insecurity related to household indebtedness and pension fund financialisation is positively associated with underemployment. This is because financially insecure workers are more likely to accept worsening working conditions on the fear of losing their job and defaulting. Using quarterly data from the Eurostat for the period 2008Q3-2020Q4, this paper shows that the persistent rise of underemployment rates in post-crisis Greece is robustly associated with the household debt ratio and pension fund investments in financial derivatives. We also demonstrate that while the effects of financialisation are similar for men and women, the employment-tied and gendered nature of social benefits in the country has disproportionately induced underemployment for women in the context of austerity. The paper concludes that personal financial insecurity is a key missing factor behind rising employment precariousness in Greece since 2008

Keywords: Financialisation; Labour Process; EU Integration; Underemployment; Greece (search for similar items in EconPapers)
Pages: 24 pages
Date: 2023-04
New Economics Papers: this item is included in nep-fdg, nep-hme, nep-lab and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://cgr.sbm.qmul.ac.uk/CGRWP112.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cgs:wpaper:112

Access Statistics for this paper

More papers in Working Papers from Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research Contact information at EDIRC.
Bibliographic data for series maintained by Pedro S. Martins ().