Consumer Credit as an Aspect of Everyday Life of Workers in Developing Countries

Karaçimen, Elif

doi:10.1177/0486613415591806

Cited by 21 publications

(12 citation statements)

References 20 publications

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“…Kalinowski and Cho (2009) and Seo et al (2012) highlight the importance of shareholder value in Korea. Gabor (2010) and Karacimen (2015) point to the rising integration of ECE households into credit markets through consumption and/or housing loans. A few authors have noted the changing behaviour of ECE banks, which have increasingly substituted (househo ld) deposits for market funding (Painceira, 2011, BIS 2015.…”

Section: Financialisation and The Hierarchic Nature Of The International Monetary Systemmentioning

confidence: 99%

Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience

Kaltenbrunner

Painceira

2017

New Political Economy

130

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This paper analyses the recent changes in financial practices and relations in emerging capitalis t economies (ECEs) using the example of Brazil. It argues that in ECEs these financ ia l transformations, akin to the financialisation phenomena observed in Core Capitalist Economies (CCEs), are fundamentally shaped by their subordinated integration into a financialised and structured world economy. To analyse this subordinated financialisation the paper draws on the framework of international currency hierarchies. It shows by means of two specific processes how the existence of a hierarchic international monetary system has changed the financial behaviour of domestic economic agents and with it the structure of the financial system. The first process highlights the phenomenon of reserve accumulation and the changing behaviour of domestic banks. The second points to ECEs' sustained external vulnerability and its impact on the operations of Brazilian non-financial corporations. The paper also shows that not only were these financ ia l transformation shaped by ECEs' subordinated financial integration, but it was these financialisation tendencies themselves which contributed to cementing existing hierarchies and further deepened existing asymmetries between ECEs and CCEs.

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Section: Financialisation and The Hierarchic Nature Of The International Monetary Systemmentioning

confidence: 99%

Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience

Kaltenbrunner

Painceira

2017

New Political Economy

130

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“…Second, there is the emergence of a mass investment culture (Harmes, 2001) as financial products become more and more available to ordinary citizens (Deutschmann, 2011; Edwards, 2017). Financial instruments such as mortgages and consumer credits also play an increasingly important role in people’s everyday life (Gonzalez, 2015; Karacimen, 2016).…”

Section: Financialization and The Changing Significance Of Investmentmentioning

confidence: 99%

Financialization and generational differences in the correlates of perceived importance of investment in Hong Kong

Lee

Tang

Tsang

2019

STICS

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Purpose The purpose of this study is to examine how people’s perceptions of the importance of financial investment relate to their value orientation, societal perceptions and policy attitudes. Tying together insights from theoretical analysis of the financialization of society and Mannheim’s (1972) theory of generation, this study hypothesizes that perceived importance of investment should be less connected to a desire for a wealthy lifestyle and more connected to a critique of social inequality among the young generation. Analysis of survey data (N = 1,020) from Hong Kong, an international financial hub, shows that perceived importance of investment relates positively to consumer materialism, perceptions of social inequality and support for social democratic policies. More importantly, the relationships between the latter variables and perceived importance of investment vary across age groups in ways largely consistent with the expectation. The findings illustrate the changing social significance of financial investment and the reluctant embracement of investment by young people. Design/methodology/approach A representative telephone survey (N = 1,020) was conducted and analyzed. Findings The analysis shows that perceived importance of investment relates positively to consumer materialism, perceptions of social inequality and support for social democratic policies. More importantly, the relationships between the latter variables and perceived importance of investment vary across age groups in ways largely consistent with the expectation. Originality/value The findings illustrate the changing social significance of financial investment and the reluctant embracement of investment by the young generation. It is, to the authors’ knowledge, the first study in Hong Kong addressing people’s attitudes toward investment in relation to the notion of financialization.

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“…Kalinowski and Cho (2009) and Seo et al (2012) highlight the importance of shareholder value in Korea. Gabor (2010) and Karacimen (2016) point to the rising integration of DEE households into credit markets through consumption and/or housing loans. Finally, a few authors have noted the changing behaviour of DEE banks, which have increasingly substituted (household) deposits for market funding (Painceira, 2011;dos Santos, 2009).…”

Section: Putting the International Into Financializationmentioning

confidence: 99%

The International Dimension of Financialization in Developing and Emerging Economies

Bortz¹,

Kaltenbrunner²

2017

Development and Change

114

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This contribution discusses the international aspect of financialization in developing and emerging economies (DEEs). It argues that international financialization is more than just an increase in cross‐border capital flows but entails distinct qualitative changes in the way economic agents are integrated into international financial markets. Moreover, in line with the emerging literature on subordinated financialization, the article shows how these changes have been shaped by, and have themselves exacerbated, the subordinated position of DEEs in the international economic and financial system and hence have contributed to uneven international development. Based on an empirical discussion of recent changes in DEEs’ international financial integration, the article concludes with some concrete policy proposals on how to confront these international aspects of financialization.

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Consumer Credit as an Aspect of Everyday Life of Workers in Developing Countries

Cited by 21 publications

References 20 publications

Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience

Subordinated Financial Integration and Financialisation in Emerging Capitalist Economies: The Brazilian Experience

Financialization and generational differences in the correlates of perceived importance of investment in Hong Kong

The International Dimension of Financialization in Developing and Emerging Economies

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