Premature financialization: a conceptual exploration

Hugh Whittaker ()
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Hugh Whittaker: FFJ - Fondation France-Japon de l'EHESS - EHESS - École des hautes études en sciences sociales

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Abstract: This paper reviews some of the recent writing on financialization and its effects in developing countries. Acknowledging the positive role of finance in development, it argues that beyond a certain point of ‘financial deepening' there are negative consequences. Financialization affects the economy, and also the state. In developing countries financialization does not necessarily follow a long period of industrialization, but may happen simultaneously with it, and indeed may be linked to ‘premature de-industrialization.' From this perspective, namely of timing, it may also be meaningful to talk of ‘premature financialization.'

Keywords: financialization; development; premature deindustrialization (search for similar items in EconPapers)
Date: 2017-01-19
New Economics Papers: this item is included in nep-fdg and nep-pay
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01680406
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