Soydan, Aylin

Aylin, Soydan
Soydan Aylin
Aylin Soydan
A., Soydan
Aylin SOYDAN
SOYDAN Aylin
Soydan, Aylin
Soydan, A.

Prof.Dr.

aylin.soydan@okan.edu.tr

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Citation Count: 10
Financialisation in developing countries: approaches, concepts, and metrics
(Routledge Journals, Taylor & Francis Ltd, 2022) Lapavitsas, Costas; Soydan, Aylin; Soydan, Aylin; Ekonomi ve Finans / Economy and Finance
Financialisation in developing countries is the subject of an expanding literature but its characteristic features and its relationship to developed countries remain unclear. Reviewing the literature, this paper shows that financialisation in developing countries should be distinguished from financial liberalisation and financial globalisation. Furthermore, its character is partly derivative from financialisation in developed countries, as is confirmed by two theoretical approaches, related but different from each other, namely 'subordinate' and 'dependent' financialisation. By further reviewing the empirical literature, the paper also shows that financialisation in developing countries is highly variable and different from that in developed countries regarding the conduct of non-financial enterprises, banks, and households. Moreover, the literature addresses several sources of vulnerability for developing countries relating to financialisation. Finally, there are significant literature gaps, above all, the connection between financialisation and the globalisation of production as well as the role of the state.