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Financialisation, financial chains and uneven geographical development: Towards a research agenda

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  • Sokol, Martin

Abstract

This paper examines a critical relationship between finance and uneven geographical development, using Europe as a point of reference. It argues that the existing economic geography literature fails to fully address the implications of financialisation for uneven geographical development. In particular, and despite recent renewed interest in geographies of finance, there does not seem to be a coherent theory of debt and its spatialities. The paper argues that the lack of a coherent theoretical framework on spatialities of credit–debt is a major shortcoming and highlights the need for a geographically-informed view of financialisation and its implications for uneven development. As a way forward, the paper proposes a new approach based on the concept of ‘financial chains’ understood both as channels of value transfer and as social relations that shape socio-economic processes over space and time.

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  • Sokol, Martin, 2017. "Financialisation, financial chains and uneven geographical development: Towards a research agenda," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 678-685.
    • Handle: RePEc:eee:riibaf:v:39:y:2017:i:pb:p:678-685
    DOI: 10.1016/j.ribaf.2015.11.007
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    2. Callum Ward, 2021. "Contradictions of Financial Capital Switching: Reading the Corporate Leverage Crisis through The Port of Liverpool's Whole Business Securitization," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 45(2), pages 249-265, March.
    3. Martin Sokol & Leonardo Pataccini, 2022. "Financialisation, regional economic development and the coronavirus crisis: a time for spatial monetary policy? [The financialization of home and the mortgage market crisis]," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 15(1), pages 75-92.
    4. Heather Whiteside, 2019. "Foreign in a domestic sense: Puerto Rico’s debt crisis and paradoxes in critical urban studies," Urban Studies, Urban Studies Journal Limited, vol. 56(1), pages 147-166, January.
    5. Bu, Ya & Du, Xin & Wang, Yuting & Liu, Shuyu & Tang, Min & Li, Hui, 2024. "Digital inclusive finance: A lever for SME financing?," International Review of Financial Analysis, Elsevier, vol. 93(C).
    6. Bruno Bonizzi & Annina Kaltenbrunner, 2019. "Liability-driven investment and pension fund exposure to emerging markets: A Minskyan analysis," Environment and Planning A, , vol. 51(2), pages 420-439, March.

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