Alami, I, Alves, C, Bonizzi, B et al. (4 more authors) (2022) International financial subordination: a critical research agenda. Review of International Political Economy, 30 (4). pp. 1360-1386. ISSN 0969-2290
Abstract
Despite a varied picture in terms of their relative economic strength, Developing and Emerging Economies (DEEs) remain in a subordinate position in the global monetary and financial system. While the IPE and economics literatures provide rich insights about the significance of this phenomenon, research efforts remain fragmented. To address this problem, we offer an umbrella concept—international financial subordination (IFS)—to channel research efforts towards cumulative theory-building. IFS is about unearthing why the structural power of finance takes a particularly violent form of expression in DEEs. To provide structure to IFS as a scholarly field, we first assess the contributions of IPE in analyzing various factors that reproduce IFS. To better ground these efforts in processes of accumulation and the histories of the relation between finance and (post)colonial development, we then offer a critical synthesis of three heterodox traditions—dependency theory, post-Keynesian economics, and Marxism. Next, we develop a pluridisciplinary research agenda organized around six analytical axes: the historical analysis of financial relations, the relations between financial and productive subordinations, the constitutive role of monetary relations as expressions of power, the role of the state, the actions and practices of non-state actors, and the spatial relations of financial subordination.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. |
Keywords: | Financial subordination, currency hierarchy, North-South relations, dependency, financialized capitalism, monetary order |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Funding Information: | Funder Grant number (DNU) Independent Social Research Fdn Not Known |
Depositing User: | Symplectic Publications |
Date Deposited: | 31 May 2022 14:30 |
Last Modified: | 29 Jan 2024 10:45 |
Status: | Published |
Publisher: | Taylor & Francis |
Identification Number: | 10.1080/09692290.2022.2098359 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:187406 |
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