Liberalisation and the political economy of financial bubbles

Knafo, Samuel (2009) Liberalisation and the political economy of financial bubbles. Competition and Change, 13 (2). pp. 128-144. ISSN 1024-5294

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This paper criticises the tight association in the political economy literature of speculation with liberal forms of governance. Having emphasised liberalisation, it is argued, scholars who ascribe to such a view are too often left without an institutional account of speculative dynamics. The paper then sets out the foundation for a political economy of speculation; one which emphasises the various forms speculation has taken and how these are rooted within specific institutional structures. In order to do so, the paper develops a distinction between premodern and modern speculation and uses it in order to contrast British and American finance. This contrast then serves as a basis for challenging the idea that speculation emerges from liberal forms of governance.

Item Type: Article
Schools and Departments: School of Global Studies > International Relations
Depositing User: Samuel Knafo
Date Deposited: 06 Feb 2012 15:27
Last Modified: 18 Jul 2012 10:09
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