The Indian road to financialisation: a case study of the Indian telecommunication sector

Jai Bhatia

Cambridge Journal of Economics, 2022, vol. 46, issue 5, 1025-1044

Abstract: This article provides an empirically grounded study of financialisation in India and assesses the challenges of theorising financialisation and applying it to developing countries. Drawing on the case study of the Indian telecommunication (telecom) sector, this article then contrasts the characteristics of financialisation in India with those in other developing countries. Using the case study, the key institutions, policies and practices that produce and reproduce financial accumulation in this sector are mapped, detailing how the primary role of finance in the telecom sector has changed from facilitating business to making telecom companies investable financial assets that could be bought and sold for profit. The article shows how the uniqueness of India’s financial system leads to a structure where the state, the public sector banks, the big businesses and the financial markets together play a key role in producing and reproducing financialisation in India.

Keywords: Financialisation; Indian economy; Developing and emerging economies; Heterodox economics; Indian telecommunications (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1093/cje/beac039 (application/pdf)
Access to full text is restricted to subscribers.

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:oup:cambje:v:46:y:2022:i:5:p:1025-1044.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().