Political economy of financialisation and corporate governance

Financialisation is a hallmark of the last three decades, therefore, the key features of financialised economies call for an analysis. What does a rise in size of the financial sector mean? And where do financial profits come from? Moreover, financialisation has an impact on all the sectors of the economy. How does it affect households? And firms? Specifically, what is the impact of financialisation on capital accumulation and corporate governance? And what is the role of the state in these processes?

A selection of papers indicative of our ongoing work in the area:

  • Sotiropoulos, D, Milios, J, and Lapatsioras, S (2011), Demystifying Finance: How to Understand Financialization and Think of Strategies for a Good Society, in Marangos, J (ed.) Alternative Perspectives of a Good Society, Palgrave Macmillan
  • Sotiropoulos, D (2011), Kalecki's dilemma: towards a Marxian interpretation of neoliberal financialization, Rethinking Marxism, 23(1): 100-116
  • Stockhammer, Engelbert (2011), Financialization and the Global Economy. In: Gerald Epstein and Martin H. Wolfson (eds): The Political Economy of Financial Crises (Oxford University Press)
  • Levina, Iren and Costas Lapavitsas (2010), Financial Profit: Profit From Production and Profit Upon Alienation. RMF Discussion Paper No. 24
  • Stockhammer, Engelbert (2004), Financialisation and the slowdown of accumulation. Cambridge Journal of Economics, 28(5), pp. 719-741
  • Auerbach, Paul and Skott, Peter (1992), Financial Innovation and Planning in a Capitalist Economy, Metroeconomica Vol. 43 (1-2):75-102
  • Auerbach, Paul (1988), Competition Oxford: Basil Blackwell
  • Auerbach, Paul (1988), Concentration, Competition and Distribution - A Critique of Theories of Monopoly Capital, (with Peter Skott), International Review of Applied Economics 2(1)
Photograph of a torn Euro banknote