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  Subjects -> BUSINESS AND ECONOMICS (Total: 3381 journals)
    - ACCOUNTING (110 journals)
    - BANKING AND FINANCE (291 journals)
    - BUSINESS AND ECONOMICS (1266 journals)
    - COOPERATIVES (4 journals)
    - ECONOMIC SCIENCES: GENERAL (213 journals)
    - HUMAN RESOURCES (83 journals)
    - INSURANCE (26 journals)
    - INTERNATIONAL COMMERCE (129 journals)
    - INVESTMENTS (22 journals)
    - MACROECONOMICS (17 journals)
    - MANAGEMENT (522 journals)
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    - MICROECONOMICS (21 journals)
    - PUBLIC FINANCE, TAXATION (38 journals)

BUSINESS AND ECONOMICS (1266 journals)                  1 2 3 4 5 6 7 | Last

Showing 1 - 200 of 1566 Journals sorted alphabetically
4OR: A Quarterly Journal of Operations Research     Hybrid Journal   (Followers: 10)
Abacus     Hybrid Journal   (Followers: 17)
Accounting Forum     Hybrid Journal   (Followers: 28)
Acta Amazonica     Open Access   (Followers: 6)
Acta Commercii     Open Access   (Followers: 4)
Acta Oeconomica     Full-text available via subscription   (Followers: 3)
Acta Scientiarum. Human and Social Sciences     Open Access   (Followers: 9)
Acta Universitatis Danubius. Œconomica     Open Access   (Followers: 3)
Acta Universitatis Lodziensis : Folia Geographica Socio-Oeconomica     Open Access  
Acta Universitatis Nicolai Copernici Zarządzanie     Open Access   (Followers: 4)
AD-minister     Open Access   (Followers: 3)
Adam Academy : Journal of Social Sciences / Adam Akademi : Sosyal Bilimler Dergisi     Open Access   (Followers: 3)
AdBispreneur : Jurnal Pemikiran dan Penelitian Administrasi Bisnis dan Kewirausahaan     Open Access  
Admisi dan Bisnis     Open Access  
ADR Bulletin     Open Access   (Followers: 6)
Advances in Developing Human Resources     Hybrid Journal   (Followers: 29)
Advances in Economics and Business     Open Access   (Followers: 19)
AfricaGrowth Agenda     Full-text available via subscription   (Followers: 2)
African Affairs     Hybrid Journal   (Followers: 66)
African Business     Full-text available via subscription   (Followers: 2)
African Development Review     Hybrid Journal   (Followers: 42)
African Journal of Business and Economic Research     Full-text available via subscription   (Followers: 8)
African Journal of Business Ethics     Open Access   (Followers: 7)
African Review of Economics and Finance     Open Access   (Followers: 7)
Afro Eurasian Studies     Open Access  
Afro-Asian Journal of Finance and Accounting     Hybrid Journal   (Followers: 8)
Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi     Open Access   (Followers: 3)
Agronomy     Open Access   (Followers: 12)
Akademik Yaklaşımlar Dergisi     Open Access  
Akademika : Journal of Southeast Asia Social Sciences and Humanities     Open Access   (Followers: 6)
Alphanumeric Journal : The Journal of Operations Research, Statistics, Econometrics and Management Information Systems     Open Access   (Followers: 6)
American Economic Journal : Applied Economics     Full-text available via subscription   (Followers: 243)
American Enterprise Institute     Free   (Followers: 3)
American Journal of Business and Management     Open Access   (Followers: 59)
American Journal of Business Education     Open Access   (Followers: 13)
American Journal of Economics and Business Administration     Open Access   (Followers: 32)
American Journal of Economics and Sociology     Hybrid Journal   (Followers: 37)
American Journal of Evaluation     Hybrid Journal   (Followers: 16)
American Journal of Finance and Accounting     Hybrid Journal   (Followers: 23)
American Journal of Health Economics     Full-text available via subscription   (Followers: 16)
American Journal of Industrial and Business Management     Open Access   (Followers: 26)
American Journal of Medical Quality     Hybrid Journal   (Followers: 10)
American Law and Economics Review     Hybrid Journal   (Followers: 29)
ANALES de la Universidad Central del Ecuador     Open Access   (Followers: 3)
Ankara University SBF Journal     Open Access  
Annales de l'Institut Henri Poincare (C) Non Linear Analysis     Full-text available via subscription   (Followers: 1)
Annals of Finance     Hybrid Journal   (Followers: 34)
Annals of Operations Research     Hybrid Journal   (Followers: 10)
Annual Review of Economics     Full-text available via subscription   (Followers: 44)
Anuario Facultad de Ciencias Económicas y Empresariales     Open Access   (Followers: 2)
Applied Developmental Science     Hybrid Journal   (Followers: 4)
Applied Economics     Hybrid Journal   (Followers: 54)
Applied Economics Letters     Hybrid Journal   (Followers: 32)
Applied Financial Economics     Hybrid Journal   (Followers: 29)
Applied Mathematical Finance     Hybrid Journal   (Followers: 7)
Applied Stochastic Models in Business and Industry     Hybrid Journal   (Followers: 6)
Apuntes Universitarios     Open Access   (Followers: 1)
Arab Economic and Business Journal     Open Access   (Followers: 7)
Archives of Business Research     Open Access   (Followers: 9)
Arena Journal     Full-text available via subscription   (Followers: 1)
Argomenti. Rivista di economia, cultura e ricerca sociale     Open Access   (Followers: 4)
ASEAN Economic Bulletin     Full-text available via subscription   (Followers: 7)
Asia Pacific Business Review     Hybrid Journal   (Followers: 8)
Asia Pacific Journal of Human Resources     Hybrid Journal   (Followers: 323)
Asia Pacific Viewpoint     Hybrid Journal  
Asia-Pacific Journal of Operational Research     Hybrid Journal   (Followers: 3)
Asia-Pacific Management and Business Application     Open Access   (Followers: 1)
Asian Business Review     Open Access   (Followers: 4)
Asian Case Research Journal     Hybrid Journal   (Followers: 1)
Asian Development Review     Open Access   (Followers: 16)
Asian Economic Journal     Hybrid Journal   (Followers: 11)
Asian Economic Papers     Hybrid Journal   (Followers: 8)
Asian Economic Policy Review     Hybrid Journal   (Followers: 6)
Asian Journal of Accounting and Governance     Open Access   (Followers: 5)
Asian Journal of Business Ethics     Hybrid Journal   (Followers: 11)
Asian Journal of Social Sciences and Management Studies     Open Access   (Followers: 8)
Asian Journal of Sustainability and Social Responsibility     Open Access   (Followers: 2)
Asian Journal of Technology Innovation     Hybrid Journal   (Followers: 8)
Asian-pacific Economic Literature     Hybrid Journal   (Followers: 8)
AStA Wirtschafts- und Sozialstatistisches Archiv     Hybrid Journal   (Followers: 5)
ATA Journal of Legal Tax Research     Hybrid Journal   (Followers: 5)
Atlantic Economic Journal     Hybrid Journal   (Followers: 13)
Australasian Journal of Regional Studies, The     Full-text available via subscription   (Followers: 1)
Australian Cottongrower, The     Full-text available via subscription   (Followers: 1)
Australian Economic Papers     Hybrid Journal   (Followers: 42)
Australian Economic Review     Hybrid Journal   (Followers: 4)
Australian Journal of Maritime and Ocean Affairs     Hybrid Journal   (Followers: 10)
Balkan Region Conference on Engineering and Business Education     Open Access   (Followers: 2)
Baltic Journal of Real Estate Economics and Construction Management     Open Access   (Followers: 3)
Banks in Insurance Report     Hybrid Journal   (Followers: 1)
BBR - Brazilian Business Review     Open Access   (Followers: 5)
Benefit : Jurnal Manajemen dan Bisnis     Open Access   (Followers: 1)
BER : Consumer Confidence Survey     Full-text available via subscription   (Followers: 4)
BER : Economic Prospects : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Economic Prospects : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Intermediate Goods Industries Survey     Full-text available via subscription   (Followers: 1)
BER : Manufacturing Survey : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Motor Trade Survey     Full-text available via subscription  
BER : Retail Sector Survey     Full-text available via subscription   (Followers: 1)
BER : Retail Survey : Full Survey     Full-text available via subscription   (Followers: 1)
BER : Survey of Business Conditions in Building and Construction : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Survey of Business Conditions in Manufacturing : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Survey of Business Conditions in Retail : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Trends : Full Survey     Full-text available via subscription   (Followers: 1)
BER : Wholesale Sector Survey     Full-text available via subscription  
Berkeley Business Law Journal     Free   (Followers: 10)
Beta : Scandinavian Journal of Business Research     Full-text available via subscription  
Beykent Üniversitesi Sosyal Bilimler Dergisi     Open Access  
Bio-based and Applied Economics     Open Access   (Followers: 2)
Biodegradation     Hybrid Journal   (Followers: 1)
Biology Direct     Open Access   (Followers: 9)
Bitlis Eren Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Akademik İzdüşüm Dergisi     Full-text available via subscription  
BizInfo (Blace) Journal of Economics, Management and Informatics     Open Access   (Followers: 1)
Black Enterprise     Full-text available via subscription  
Board & Administrator for Administrators only     Hybrid Journal  
Boletim Técnico do Senac     Open Access  
Border Crossing : Transnational Working Papers     Open Access   (Followers: 4)
Brazilian Business Review     Open Access  
Briefings in Real Estate Finance     Hybrid Journal   (Followers: 5)
British Journal of Industrial Relations     Hybrid Journal   (Followers: 41)
Brookings Papers on Economic Activity     Open Access   (Followers: 63)
Brookings Trade Forum     Full-text available via subscription   (Followers: 3)
BRQ Business Research Quarterly     Open Access   (Followers: 2)
BU Academic Review     Open Access  
Building Sustainable Legacies : The New Frontier Of Societal Value Co-Creation     Full-text available via subscription   (Followers: 1)
Bulletin of Economic Research     Hybrid Journal   (Followers: 19)
Bulletin of Geography. Socio-economic Series     Open Access   (Followers: 5)
Bulletin of Indonesian Economic Studies     Hybrid Journal   (Followers: 4)
Bulletin of the Dnipropetrovsk University. Series : Management of Innovations     Open Access   (Followers: 1)
Business & Entrepreneurship Journal     Open Access   (Followers: 24)
Business & Information Systems Engineering     Hybrid Journal   (Followers: 5)
Business & Society     Hybrid Journal   (Followers: 12)
Business : Theory and Practice / Verslas : Teorija ir Praktika     Open Access   (Followers: 1)
Business and Economic Research     Open Access   (Followers: 10)
Business and Management Horizons     Open Access   (Followers: 13)
Business and Management Research     Open Access   (Followers: 21)
Business and Management Studies     Open Access   (Followers: 13)
Business and Professional Communication Quarterly     Hybrid Journal   (Followers: 7)
Business and Society Review     Hybrid Journal   (Followers: 6)
Business Economics     Hybrid Journal   (Followers: 17)
Business Ethics Quarterly     Full-text available via subscription   (Followers: 17)
Business Ethics: A European Review     Hybrid Journal   (Followers: 20)
Business Horizons     Hybrid Journal   (Followers: 12)
Business Information Review     Hybrid Journal   (Followers: 15)
Business Management and Strategy     Open Access   (Followers: 43)
Business Research     Hybrid Journal   (Followers: 3)
Business Review Journal     Open Access  
Business Strategy and the Environment     Hybrid Journal   (Followers: 12)
Business Strategy Review     Hybrid Journal   (Followers: 11)
Business Systems & Economics     Open Access   (Followers: 2)
Business Systems Research Journal     Open Access   (Followers: 5)
Business, Economics and Management Research Journal : BEMAREJ     Open Access   (Followers: 3)
Business, Management and Education     Open Access   (Followers: 19)
Business, Peace and Sustainable Development     Full-text available via subscription   (Followers: 5)
Business: Theory and Practice     Open Access  
Bustan     Hybrid Journal  
Cadernos EBAPE.BR     Open Access   (Followers: 1)
Cambridge Journal of Economics     Hybrid Journal   (Followers: 71)
Cambridge Journal of Regions, Economy and Society     Hybrid Journal   (Followers: 12)
Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l Administration     Hybrid Journal   (Followers: 1)
Canadian Journal of Economics/Revue Canadienne d`Economique     Hybrid Journal   (Followers: 43)
Canadian journal of nonprofit and social economy research     Open Access   (Followers: 3)
Capitalism Nature Socialism     Hybrid Journal   (Followers: 21)
Cappadocia Academic Review     Open Access  
Case Studies in Business and Management     Open Access   (Followers: 11)
CBU International Conference Proceedings     Open Access   (Followers: 3)
Central European Business Review     Open Access   (Followers: 1)
Central European Journal of Operations Research     Hybrid Journal   (Followers: 5)
Central European Journal of Public Policy     Open Access   (Followers: 3)
CESifo Economic Studies     Hybrid Journal   (Followers: 23)
Chain Reaction     Full-text available via subscription  
Challenge     Full-text available via subscription   (Followers: 5)
Chandrakasem Rajabhat University Journal of Graduate School     Open Access  
China & World Economy     Hybrid Journal   (Followers: 19)
China : An International Journal     Full-text available via subscription   (Followers: 19)
China Economic Journal : The Official Journal of the China Center for Economic Research (CCER) at Peking University     Hybrid Journal   (Followers: 16)
China Economic Review     Hybrid Journal   (Followers: 14)
China Nonprofit Review     Hybrid Journal   (Followers: 3)
China perspectives     Open Access   (Followers: 12)
Chinese Economy     Full-text available via subscription   (Followers: 3)
Chinese Journal of Social Science and Management     Open Access  
Christian University of Thailand Journal     Open Access  
Chulalongkorn Business Review     Open Access  
Ciência & Saúde Coletiva     Open Access   (Followers: 2)
Ciencia Sociales y Económicas     Open Access  
CLIO América     Open Access   (Followers: 2)
Cliometrica     Hybrid Journal   (Followers: 5)
COEPTUM     Open Access  
Colombo Business Journal     Open Access  
Community Development Journal     Hybrid Journal   (Followers: 27)
Compendium : Cuadernos de Economía y Administración     Open Access  
Compensation & Benefits Review     Hybrid Journal   (Followers: 8)
Competition & Change     Hybrid Journal   (Followers: 11)
Competitive Intelligence Review     Hybrid Journal   (Followers: 2)
Computational Economics     Hybrid Journal   (Followers: 10)
Computational Mathematics and Modeling     Hybrid Journal   (Followers: 10)
Computer Law & Security Review     Hybrid Journal   (Followers: 18)
Computers & Operations Research     Hybrid Journal   (Followers: 12)
Contemporary Wales     Full-text available via subscription   (Followers: 1)
Contributions to Political Economy     Hybrid Journal   (Followers: 6)

        1 2 3 4 5 6 7 | Last

Similar Journals
Journal Cover
Cambridge Journal of Economics
Journal Prestige (SJR): 0.764
Citation Impact (citeScore): 2
Number of Followers: 71  
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 0309-166X - ISSN (Online) 1464-3545
Published by Oxford University Press Homepage  [406 journals]
  • Financialisation and the new capitalism'
    • Authors: Fontana G; Pitelis C, Runde J.
      Pages: 799 - 804
      PubDate: Thu, 25 Jul 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez029
      Issue No: Vol. 43, No. 4 (2019)
  • Platform economy as a new form of capitalism: a Régulationist
           research programme
    • Authors: Montalban M; Frigant V, Jullien B.
      Pages: 805 - 824
      Abstract: AbstractThe terms ‘platform economy’ or ‘sharing economy’ have become widespread with the development of digital platforms like Uber. This economy is transforming capitalism and raising important questions about its nature. Is it a new process of embeddedness or is it the next step for deregulation following the crisis of the financialised regime of accumulation (RA)' Is it a possible new Growth Regime' Using the approach of the French Régulation school of thought, we describe the nature and transformations of the form of competition inherent in platforms. Although this may favour some forms of re-embeddedness, we show that it will accelerate some of the trends and characteristics of the institutional forms of the financialised RA and that it is an endogenous product of its crisis. This raises further questions and uncertainties related to the ability of platforms to generate stable long run growth due to the dysfunctionality of the mode of régulation and the conflicts it could generate.
      PubDate: Tue, 14 May 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez017
      Issue No: Vol. 43, No. 4 (2019)
  • Financialisation, institutions and financing constraints in developing
    • Authors: Mertzanis C.
      Pages: 825 - 866
      Abstract: AbstractThe paper uses a consistent firm-level data from the World Banks Enterprise Surveys to explore the impact of financialisation in the economy on firms’ access to finance in 138 developing countries. Access to finance reflects survey-based firms’ perceptions of external financing constraints. Financialisation is proxied by consistent cross-country measures of financial depth. These proxies capture separately the role of bank-based versus market-based financing. Firm-, sector- and country-level information is jointly used for the analysis. Firm-specific characteristics and economic and non-economic national factors are included as controls. The results show that the proxies of financialisation are broadly robust predictors of financing constraints of firms in developing countries. However, the magnitude of the financialisation effect varies between bank-based and market-based channels of financing as well as between low- and high-income countries, and it is influenced by social, institutional and religious factors.
      PubDate: Thu, 23 May 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez015
      Issue No: Vol. 43, No. 4 (2019)
  • Financial markets and the working class in the USA: an empirical
           investigation of financial stress
    • Authors: McCormack M.
      Pages: 867 - 890
      Abstract: AbstractThis paper investigates the relationship between financial stress and the working class in the USA. Employing a financial stress index created from the Survey of Consumer Finances, I show that working class households are nearly twice as likely to be financially stressed than wealthier non-working class households from 1992 to 2016. A possible explanation of this result could be that the financial expropriation of personal income among the working class has the effect of increasing that group’s financial stress relative to wealthier classes. Working class households in the USA have struggled to afford means of subsistence in lieu of lacklustre wage growth and a tattered safety net. Financial expropriation of these households has operated in tandem with this precarity, increasing financial stress in a time of financialised capitalism.
      PubDate: Tue, 09 Jul 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez018
      Issue No: Vol. 43, No. 4 (2019)
  • Exercising the ‘governance option’: labour’s new push to reshape
           financial capitalism
    • Authors: Diamond S.
      Pages: 891 - 916
      Abstract: AbstractNew forms of stockholder activism call into question longstanding assumptions underpinning our system of corporate governance. Scholarship has largely failed to explain the basis for these new forms and, in particular, the differences among activists. Activists are not one undifferentiated mass. Both small activist hedge funds and large union-sponsored or -influenced pension funds use governance mechanisms to influence corporate behaviour. Pension funds, however, have a different set of incentives than hedge funds. The beneficiaries of these funds cannot easily switch between consumption and investment by buying or selling their holdings in firms. Thus, instead, institutional investors exercise an embedded ‘governance option’ found within shares of common stock to engage with firms. Organised labour, in particular, now uses its influence in pension funds to motivate progressive change by corporations. This form of activism has the potential to alter the balance of power between workers and capitalists in the era of financial capitalism.
      PubDate: Mon, 20 May 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez016
      Issue No: Vol. 43, No. 4 (2019)
  • Financialisation in context: the case of Italy
    • Authors: Forges Davanzati G; Pacella A, Salento A.
      Pages: 917 - 936
      Abstract: AbstractThis paper aims at analysing the causes and effects of increasing financial accumulation by Italian firms, within a radical Institutional theoretical framework. It will be argued that financialisation can be imputed to the fact that the biggest Italian companies aim to increase their profits through speculation after the cycle of class struggle of the 1970s. It will also be shown that financial accumulation has contributed to the reduction of economic growth and to the increase of income inequalities. Since very few research studies have dealt with the Italian case, this paper fills a gap.
      PubDate: Wed, 05 Jun 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez019
      Issue No: Vol. 43, No. 4 (2019)
  • The impact of financialisation on the wage share: a theoretical
           clarification and empirical test
    • Authors: Kohler K; Guschanski A, Stockhammer E.
      Pages: 937 - 974
      Abstract: AbstractIt is frequently asserted that financialisation has contributed to the decline in the wage share. This paper provides a theoretical clarification and a systematic empirical investigation. We identify four channels through which financialisation can affect the wage share: (i) enhanced exit options of firms; (ii) rising price mark-ups due to financial overhead costs for businesses; (iii) increased competition on capital markets and (iv) the role of household debt in increasing workers’ financial vulnerability and undermining their class consciousness. The paper compiles a comprehensive set of empirical measures of financialisation and uses it to test these hypotheses with a panel regression of 14 advanced countries over the 1992–2014 period. We find strong evidence for negative effects of financial liberalisation and financial payments of non-financial corporations on the wage share, which are in the same order of magnitude as the effects of globalisation.
      PubDate: Thu, 25 Jul 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez021
      Issue No: Vol. 43, No. 4 (2019)
  • Financialisation and tendencies towards stagnation: the role of
           macroeconomic regime changes in the course of and after the financial and
           economic crisis 2007–09
    • Authors: Hein E.
      Pages: 975 - 999
      Abstract: AbstractThis paper argues that the re-emergence of stagnation tendencies in modern capitalism can be related to financialisation and its macroeconomic failures leading to the recent crises, and in particular to the macroeconomic responses towards the crisis and the respective regime shifts in mature capitalist economies. The focus of the paper is on the latter, and it examines the regime changes for six mature capitalist economies, the two liberal Anglo-Saxon economies of the USA and the UK, a representative country from the Nordic welfare states, Sweden, the three important Eurozone countries France, Germany and Spain, as well as the core Eurozone (EA-12) as a whole. The concept of macroeconomic regimes under the conditions of financialisation is recapitulated, applied to the period before the crisis, and finally the regime changes during and after the crisis are examined. It is shown that a dominant tendency towards export-led mercantilism, in particular in the Eurozone and its main member countries, imposes an aggregation problem on the global economy and thus contributes to stagnation and rising global macroeconomic risks. Finally, short- and long-run alternative policies to deal with these problems are suggested.
      PubDate: Thu, 23 May 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez022
      Issue No: Vol. 43, No. 4 (2019)
  • Towards (de-)financialisation: the role of the state
    • Authors: Karwowski E.
      Pages: 1001 - 1027
      Abstract: AbstractUnderstanding the nature of state financialisation is crucial to ensure de-financialisation efforts are successful. Therefore, this article provides a structured overview of the emerging literature on financialisation and the state. We define financialisation of the state broadly as the changed relationship between the state, understood as sovereign with duties and accountable towards its citizens, and financial markets and practices, in ways that can diminish those duties and reduce accountability. We then argue that there are four ways in which financialisation works in and through public institutions and policies: adoption of financial logics, advancing financial innovation, embracing financial accumulation strategies and directly financialising the lives of their citizens. Organising our review around the two main policy fields of fiscal and monetary policy, four definitions of financialisation in the context of public policy and institutions emerge. When dealing with public expenditure on social provisions, financialisation most often refers to the transformation of public services into the basis for actively traded financial assets. In the context of public revenue, financialisation describes the process of creating and deepening secondary markets for public debt, with the state turning into a financial market player. Finally, in the realm of monetary policy, financial deregulation is perceived to have paved the way for financialisation, while inflation targeting and the encouragement, or outright pursuit, of market-based short-term liquidity management among financial institutions constitute financialised policies.
      PubDate: Thu, 25 Jul 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez023
      Issue No: Vol. 43, No. 4 (2019)
  • Shadow banking and the financial side of financialisation
    • Authors: Caverzasi E; Botta A, Capelli C.
      Pages: 1029 - 1051
      Abstract: AbstractThis paper sheds some light on the nature and functioning of shadow banking, with a special focus on its role in the evolution of financialisation as well as in sharpening income and wealth inequality. On the one hand, it discusses how securitisation has allowed traditional banks to expand their business, providing the financial system with the ‘raw materials’ for the manufacturing of complex structured financial products. On the other hand, it questions the view of traditional and shadow banks as two parallel and alternative systems, claiming that financialisation did not alter the role of commercial banks as money creators, but rather diverted endogenously created money to the financial sphere, feeding its expansion. Finally, our work discusses some policy options for the de-financialisation of the economy through more progressive taxation of the financial sector, as well as a stronger engagement to reduce income and wealth inequality.
      PubDate: Thu, 23 May 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez020
      Issue No: Vol. 43, No. 4 (2019)
  • Transformation of banking reconsidered: how feasible is
    • Authors: Sweeney R.
      Pages: 1053 - 1071
      Abstract: AbstractA defining feature of financialisation has been the transformation of banking, especially the expansion of investment banking. This article argues that the financialisation literature has, to date, failed to adequately explain this transformation. Neither disintermediation processes on the one hand, nor liberalisation of financial service activities on the other hand can explain the increase in scale and scope of the sector. The growth in investment banking activities should instead be seen in terms of the overall expansion of financial markets. In particular, demographic pressures and neoliberal restructuring have led to the growth of capital markets and modern asset management. The rise of capital markets and asset management, and the associated growth of money and derivatives markets have, in turn, put pressures on the banking system for expanded investment services, which it has met. Understanding financialisation as a structural change implies limits on how much economies can be ‘de-financialised’.
      PubDate: Thu, 25 Jul 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez024
      Issue No: Vol. 43, No. 4 (2019)
  • Labour share decline, financialisation and structural change
    • Authors: Pariboni R; Tridico P.
      Pages: 1073 - 1102
      Abstract: AbstractThe purpose of this article is to explain the determinants behind the decline of labour share in the last three to four decades in OECD countries. In our view, this decline was determined by financialisation and was deepened by the structural changes that occurred almost simultaneously in those economies. Financialisation, or finance-dominated capitalism, from the 1980s onwards, was a key element in the strategic offensive of the advanced countries’ dominant classes to appropriate higher shares of national income and to restore their control over the political process, a control that had been threatened by a generalised advancement of the labour movement in the 1970s. The development of a finance-dominated capitalism was helped by the process of globalisation, which affected not only OECD countries but also many others. A new, though unstable, macroeconomic model emerged, which we will call financial capitalism. In financial capitalism, trade unions lost power vis-à-vis capital, labour flexibility increased enormously, and a structural change from manufacturing to services was accelerated in rich countries. This resulted in negative consequences for labour share and income inequality. After having provided a theoretical discussion of the determinants of the compression of the wage share, making reference to the relevant literature, we submit our hypotheses to empirical scrutiny, performing a panel data analysis on 28 OECD Countries. The results of the estimations provide support to the theoretical argument.
      PubDate: Fri, 07 Jun 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez025
      Issue No: Vol. 43, No. 4 (2019)
  • Too big to manage: US megabanks’ competition by innovation and the
           microfoundations of financialization
    • Authors: Cerpa Vielma N; Cömert H, D’Avino C, et al.
      Pages: 1103 - 1121
      Abstract: AbstractDisagreements over the systemic implications—the future—of financialization can be traced in part to the absence of sustained attention to the role of banking firms in driving this secular shift forward. That is, the financialization literature lacks an adequate microfoundation. Accounting for the drivers of financialization processes solely at the macro level overlooks the problems of how these processes came about and whether they are sustainable. This paper addresses this explanatory gap, arguing that a key independent microeconomic driver of increasing financialization did exist: the incessant efforts by money-centre banks in the USA to break out of Depression-era restrictions on their size, activities, and markets. These banks’ growth strategies in turbulent times led to an institutional (meso) shift—the rise of a megabank-centred shadow banking system—that now shapes global financial architecture even while operating in ways that are unsustainable. In short, too-big-to-manage megabanks are at the heart of the fragility and instability of the economy today.
      PubDate: Thu, 04 Jul 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez027
      Issue No: Vol. 43, No. 4 (2019)
  • The entwined futures of financialisation and cities
    • Authors: Gupta P.
      Pages: 1123 - 1148
      Abstract: AbstractThis article considers the future of financialisation as it is entwined with that of cities. It poses the question of how cities can regulate financialisation. ‘Financialization’ is understood here to encompass the myriad of social, economic, legal and political dimensions of the transition from industrial capitalism to finance capitalism. This transition implicates the financial sector and their motives as well as the new roles that financial ideas play in everyday lives. That new role for finance has been understood to be a ‘normative order of reason’ that informs public decision-making and governance. While the efforts of national and transnational law to regulate the financial sector have been studied, there has been far less focus on local governments. Local governments, however, play a crucial role in how financial capitalism takes hold through their regulation of real estate and urban space (real estate being a key current engine of financial markets). Local governments mediate the ways that finance takes hold in cities and the built environment and the way that those transformations exclude certain populations. In short, they mediate the ‘spatialization’ of finance. This triangular constitution of local governance, financialisation and urban space can be observed in the shrinking of public space. The article first examines the relationship between public space and democracy, and the role of law as the underlying structure that allocates urban space towards the use of the public or the use of private real estate actors. This engagement demonstrates how urban space is a key site of financialisation’s dual dimensionality: as a sector with material accumulation of resources and as a constellation of rationalities and cultures. The article then turns to a discussion of city efforts to regulate the financial sector, and popular resistance to the ideologies of finance. Through that examination, this article hopes to demonstrate that efforts to regulate the financial sector are only one level on which to regulate financialisation. ‘Regulation’ here becomes a complex endeavour, requiring an engagement with the modes of reasoning and culture promulgated by financialisation as well as the financial sector and its activities.
      PubDate: Mon, 08 Jul 2019 00:00:00 GMT
      DOI: 10.1093/cje/bez028
      Issue No: Vol. 43, No. 4 (2019)
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
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