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Premature financialization: a conceptual exploration

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  • Hugh Whittaker

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

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.'

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  • Hugh Whittaker, 2017. "Premature financialization: a conceptual exploration," Working Papers halshs-01680406, HAL.
    • Handle: RePEc:hal:wpaper:halshs-01680406
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01680406
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    References listed on IDEAS

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    1. Adams, Zeno & Collot, Solène & Kartsakli, Maria, 2020. "Have commodities become a financial asset? Evidence from ten years of Financialization," Energy Economics, Elsevier, vol. 89(C).

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    Keywords

    financialization; development; premature deindustrialization;
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