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Dependency in a financialised global economy

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  • Fathimath Musthaq

Abstract

Drawing on Samir Amin’s writings, this article proposes a contemporary form of dependency that manifests in the subordinate integration of developing countries into a financialised global economy. Using insights from the emergent financialisation literature, the article updates two themes in Amin’s work: imperialist rent and the role of the peripheral state in perpetuating dependency in the global economy. In contemporary capitalism, imperialist rent is not limited to labour arbitrage but also includes financial arbitrage, and the peripheral state, rather than retreating, now actively manages the financial sphere. The article advances an updated understanding of dependency in the context of financialisation.

Suggested Citation

  • Fathimath Musthaq, 2021. "Dependency in a financialised global economy," Review of African Political Economy, Taylor & Francis Journals, vol. 48(167), pages 15-31, January.
    • Handle: RePEc:taf:revape:v:48:y:2021:i:167:p:15-31
    DOI: 10.1080/03056244.2020.1857234
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    Cited by:

    1. Gruber, Aaron, 2023. "Navigating a world of constraints: Developmentalism, industrial policy, and the limits to structural transformation in Ethiopia," ÖFSE-Forum, Austrian Foundation for Development Research (ÖFSE), volume 87, number 287748.
    2. Nikita Sud & Diego Sánchez‐Ancochea, 2022. "Southern Discomfort: Interrogating the Category of the Global South," Development and Change, International Institute of Social Studies, vol. 53(6), pages 1123-1150, November.

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