Keywords
Financialization
Heterodox economics
Bibliometrics
Scopus
VOSviewer.
Heterodox economics
Bibliometrics
Scopus
VOSviewer.
How to Cite
PALLUDETO, Alex Wilhans Antonio; FELIPINI, André Rodrigues. An overview of the literature on financialization (1992-2017): a bibliometric approach. Economia e Sociedade, Campinas, SP, v. 28, n. 2, p. 313–337, 2019. Disponível em: https://periodicos.sbu.unicamp.br/ojs/index.php/ecos/article/view/8656961. Acesso em: 17 jul. 2024.
Abstract
The purpose of this paper is to present an overview of the literature on financialization between 1992 and 2017 from a bibliometric approach using the VOSviewer software. Specifically, it seeks to delineate the state of the art of literature, identifying specific studies, publication vehicles and key authors, as well as the subfields in which the contributions have been distributed. We propose the identification of five major approaches. The first approach refers to the analysis of financialization from a critique of the maximization of shareholder value standpoint. The second group represents a set of Marxist and post-Keynesian works that focus on the evaluation of financialization as a new pattern of accumulation. The third approach is organized around the spread within society of norms, practices, rules of conduct and vocabulary typical of financial markets and their impact on daily life. The fourth group focuses on the assessment of the way in which contemporary finance shapes the organization of space, particularly urban areas. Finally, the fifth group is devoted to examining the impact of financialization on rural activity, particularly in underdeveloped economies dependent on commodity exports.
References
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AALBERS, M. Corporate financialization. In: THE INTERNATIONAL encyclopedia of geography: People, the earth, environment, and technology. 2015. Retrieve from: http://dx.doi.org/10.1002/9781118786352.wbieg0598.
BHATIA, R.; KHATKHATE, D. Financial intermediation, savings mobilization, and entrepreneurial development: the African experience. Staff Papers, International Monetary Fund, v. 22, n. 1, p. 132-158, 1975.
CLAPP, J. Financialization, distance and global food politics. Journal of Peasant Studies, v. 41, n. 5, p. 797-814, 2014.
DAVIS, G. F.; KIM, S. Financialization of the economy. Annual Review of Sociology, v. 41, n. 1, p. 203-221, 2015.
DEQUECH, D. Neoclassical, mainstream, orthodox, and heterodox economics. Journal of Post Keynesian Economics, v. 30, n. 2, p. 279-302, 2007.
DORE, R. Financialization of the global economy. Industrial and Corporate Change, v. 17, n. 6, p. 1097-1112, 2008.
EPSTEIN, G. Financialization: there’s something happening here. Amherst, MA: PERI, 2015. (Working Paper, n. 394).
FAIRBAIRN, M. ‘Like gold with yield’: evolving intersections between farmland and finance. Journal of Peasant Studies, v. 41, n. 5, p. 777-795, 2014.
FARAZMAND, A. Globalization and public administration. Public Administration Review, v. 59, n. 6, p. 509-522, 1999.
FOSTER, J. B. The financialization of capitalism. Monthly Review, v. 58, n. 11, p. 1-12, 2007.
FRENCH, S.; KNEALE, J. Excessive financialisation: insuring lifestyles, enlivening subjects, and everyday spaces of biosocial excess. Environment and Planning D: society and space, v. 27, n. 6, p. 1030-1053, 2009.
FRENCH, S.; LEYSHON, A.; THRIFT, N. A very geographical crisis: the making and breaking of the 2007-2008 financial crisis. Cambridge Journal of Regions, Economy and Society, v. 2, n. 2, p. 287-302, 2009.
FRENCH et al. Financializing space, spacing financialization. Progress in Human Geography, v. 35, n. 6, p. 798-819, 2011.
FROUD, J. et al. Shareholder value and financialization: consultancy promises, management moves. Economy and Society, v. 29, n. 1, p. 80-110, 2000.
GKANOUTAS-LEVENTIS, A. The many faces of financialisation. In GKANOUTASLEVENTIS, A. Spikes and shocks. London: Palgrave Macmillan UK, 2017. p. 23-37.
GOLDSTEIN, J. P. Introduction: the political economy of financialization. Review of Radical Political Economics, v. 41, n. 4, p. 453-457, 2009.
GOTHAM, K. F. Creating liquidity out of spatial fixity: the secondary circuit of capital and the subprime mortgage crisis. International Journal of Urban and Regional Research, v. 33, n. 2, p. 355-371, 2009.
HALL, S. Geographies of money and finance II: Financialization and financial subjects. Progress in Human Geography, v. 36, n. 3, p. 403-411, 2012.
HALL, S.; LEYSHON, A. Editorial: Financialization, space and place. Regional Studies, v. 47, n. 6, p. 831-833, 2013.
HARVEY, D. Neoliberalism as creative destruction. The Annals of the American Academy of Political and Social Science, v. 610, p. 22-44, 2007.
HEIN, E.; VAN TREECK, T. . ‘Financialisation’ in Post-Keynesian models of distribution and growth-a systematic review. IMK Working Paper, n. 10, 2008.
ISAKSON, S. R. Food and finance: the financial transformation of agro-food supply chains. Journal of Peasant Studies, v. 41, n. 5, p. 749-775, 2014.
KHATKHATE, D. Analytic basis of the working of monetary policy in less developed countries. Staff Papers, International Monetary Fund, v. 19, n. 3, p. 533-558, 1972.
KRIPPNER, G. R. The financialization of the American economy. Socio-Economic Review, v. 3, n. 2), p. 173-208, 2005.
KUS, B. Financialisation and income inequality in OECD nations: 1995-2007. The Economic and Social Review, v. 43, n. 4, p. 477-495, 2013.
LANGLEY, P. The everyday life of global finance: saving and borrowing in Anglo-America. Oxford: OUP, 2008.
LAPAVITSAS, C. Financialised capitalism: crisis and financial expropriation. Historical Materialism, v. 17, n. 2, p. 114-148, 2009.
LAPAVITSAS, C. Theorizing financialization. Work, Employment & Society, 25(4), 611–626. 2011
LAZZARATO, M. Neoliberalism in action inequality, insecurity and the reconstitution of the social. Theory, culture & society, 26(6), 109-133. 2009
LEE, R., CLARK, G. L., POLLARD, J., & LEYSHON, A. The remit of financial geography– before and after the crisis. Journal of Economic Geography, 9(5), 723-747. 2009
MAKDISI, S. Lebanon: Monetary Developments, Management and Performance in the Postwar Period up to 1972. Part II. Middle East Journal, 29(2), 199-206. 1975
MARTIN, R. Financialization of daily life. Temple University Press. 2002
MCMICHAEL, P. The land grab and corporate food regime restructuring. The Journal of Peasant Studies, 39(3-4), 681-701. 2012
OLCZYK, M. Bibliometric approach to tracking the concept of international competitiveness, Journal of Business Economics and Management, 17(6), 945-9592016
ORHANGAZI, Ö. Financialisation and capital accumulation in the non-financial corporate sector: A theoretical and empirical investigation on the US economy: 1973–2003. Cambridge Journal of Economics, 32(6), 863-886. 2008
PIKE, A., & POLLARD, J. Economic Geographies of Financialization. Economic Geography, 86(1), 29-52. 2010
SAWYER, M. What Is Financialization? International Journal of Political Economy, 42(4), 5–18. 2013
SAWYER, M. Confronting Financialisation. In P. Arestis & M. Sawyer (Eds.), Financial Liberalisation (pp. 43–85). Cham: Springer International Publishing. 2016
SKOTT, P., & RYOO, S. Macroeconomic implications of financialisation. Cambridge Journal of Economics, 32(6), 827-862. 2008
SMALL, H. Co‐citation in the scientific literature: A new measure of the relationship between two documents. Journal of the Association for Information Science and Technology, 24(4), 265-269. 1973
SOKOL, M. Towards a ‘newer’ economic geography? Injecting finance and financialisation into economic geographies. Cambridge Journal of Regions, Economy and Society, 6(3), 501- 515. 2013
STOCKHAMMER, E. Financialisation and the slowdown of accumulation. Cambridge Journal of Economics, 28(5), 719-741. 2004
TANG, K., & XIONG, W. Index investment and the financialization of commodities. Financial Analysts Journal, 68(5), 54-74. 2012
TOMASKOVIC-DEVEY, D.; LIN, K. H. Income dynamics, economic rents, and the financialization of the US economy. American Sociological Review, v. 76, n. 4, p. 538-559, 2011.
TOMASKOVIC-DEVEY, D.; LIN, K. H.; MEYERS, N. Did financialization reduce economic growth? Socio-Economic Review, v. 13, n. 3, p. 525-548, 2015.
TOPOROWSKI, J. Neologism as theoretical innovation in economics: the case of “financialisation.” In: O’SULLIVAN, P.; ALLINGTON, N. F. B.; ESPOSITO, M. (Ed.). The Philosophy, politics and economics of finance in the 21st century: from hubris to disgrace. New York, NY: Routledge, 2015. p. 254-266.
VAN DER ZWAN, N. Making sense of financialization. Socio-Economic Review, v. 12, n. 1, p. 99-129, 2014.
VAN ECK, N. J.; WALTMAN, L. Bibliometric mapping of the computational intelligence field. International Journal of Uncertainty, Fuzziness and Knowledge-Based Systems, v. 15, n. 5, p. 625-645, 2007.
VAN ECK, N. J.; WALTMAN, L. Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, v. 84. n. 2, p. 523-538, 2010.
VAN ECK, N. J.; WALTMAN, L. Citation-based clustering of publications using CitNetExplorer and VOSviewer. Scientometrics, 2017. Retrieve from: https://dx.doi.org/10.1007/s11192-017-2300-7.
VERCELLI, A. Financialization in a long-run perspective: an evolutionary approach. International Journal of Political Economy, v. 42, n. 4, p. 19-46, 2013.
VERCELLI, A. The evolution of financialisation. In: VERCELLI, A. Crisis and sustainability. London: Palgrave Macmillan UK, 2017. p. 89-115.
WALTMAN, L.; VAN ECK, N. J.; NOYONS, E. C. A unified approach to mapping and clustering of bibliometric networks. Journal of Informetrics, v. 4, n. 4, p. 629-635, 2010.
WILLIAMS, K. From shareholder value to present-day capitalism. Economy and Society, v. 29, n. 1, p. 1-12, 2000.
ZHANG, Y.; ANDREW, J. Financialisation and the conceptual framework. Critical perspectives on accounting, v. 25, n. 1, p. 17-26, 2014.
AALBERS, M. Corporate financialization. In: THE INTERNATIONAL encyclopedia of geography: People, the earth, environment, and technology. 2015. Retrieve from: http://dx.doi.org/10.1002/9781118786352.wbieg0598.
BHATIA, R.; KHATKHATE, D. Financial intermediation, savings mobilization, and entrepreneurial development: the African experience. Staff Papers, International Monetary Fund, v. 22, n. 1, p. 132-158, 1975.
CLAPP, J. Financialization, distance and global food politics. Journal of Peasant Studies, v. 41, n. 5, p. 797-814, 2014.
DAVIS, G. F.; KIM, S. Financialization of the economy. Annual Review of Sociology, v. 41, n. 1, p. 203-221, 2015.
DEQUECH, D. Neoclassical, mainstream, orthodox, and heterodox economics. Journal of Post Keynesian Economics, v. 30, n. 2, p. 279-302, 2007.
DORE, R. Financialization of the global economy. Industrial and Corporate Change, v. 17, n. 6, p. 1097-1112, 2008.
EPSTEIN, G. Financialization: there’s something happening here. Amherst, MA: PERI, 2015. (Working Paper, n. 394).
FAIRBAIRN, M. ‘Like gold with yield’: evolving intersections between farmland and finance. Journal of Peasant Studies, v. 41, n. 5, p. 777-795, 2014.
FARAZMAND, A. Globalization and public administration. Public Administration Review, v. 59, n. 6, p. 509-522, 1999.
FOSTER, J. B. The financialization of capitalism. Monthly Review, v. 58, n. 11, p. 1-12, 2007.
FRENCH, S.; KNEALE, J. Excessive financialisation: insuring lifestyles, enlivening subjects, and everyday spaces of biosocial excess. Environment and Planning D: society and space, v. 27, n. 6, p. 1030-1053, 2009.
FRENCH, S.; LEYSHON, A.; THRIFT, N. A very geographical crisis: the making and breaking of the 2007-2008 financial crisis. Cambridge Journal of Regions, Economy and Society, v. 2, n. 2, p. 287-302, 2009.
FRENCH et al. Financializing space, spacing financialization. Progress in Human Geography, v. 35, n. 6, p. 798-819, 2011.
FROUD, J. et al. Shareholder value and financialization: consultancy promises, management moves. Economy and Society, v. 29, n. 1, p. 80-110, 2000.
GKANOUTAS-LEVENTIS, A. The many faces of financialisation. In GKANOUTASLEVENTIS, A. Spikes and shocks. London: Palgrave Macmillan UK, 2017. p. 23-37.
GOLDSTEIN, J. P. Introduction: the political economy of financialization. Review of Radical Political Economics, v. 41, n. 4, p. 453-457, 2009.
GOTHAM, K. F. Creating liquidity out of spatial fixity: the secondary circuit of capital and the subprime mortgage crisis. International Journal of Urban and Regional Research, v. 33, n. 2, p. 355-371, 2009.
HALL, S. Geographies of money and finance II: Financialization and financial subjects. Progress in Human Geography, v. 36, n. 3, p. 403-411, 2012.
HALL, S.; LEYSHON, A. Editorial: Financialization, space and place. Regional Studies, v. 47, n. 6, p. 831-833, 2013.
HARVEY, D. Neoliberalism as creative destruction. The Annals of the American Academy of Political and Social Science, v. 610, p. 22-44, 2007.
HEIN, E.; VAN TREECK, T. . ‘Financialisation’ in Post-Keynesian models of distribution and growth-a systematic review. IMK Working Paper, n. 10, 2008.
ISAKSON, S. R. Food and finance: the financial transformation of agro-food supply chains. Journal of Peasant Studies, v. 41, n. 5, p. 749-775, 2014.
KHATKHATE, D. Analytic basis of the working of monetary policy in less developed countries. Staff Papers, International Monetary Fund, v. 19, n. 3, p. 533-558, 1972.
KRIPPNER, G. R. The financialization of the American economy. Socio-Economic Review, v. 3, n. 2), p. 173-208, 2005.
KUS, B. Financialisation and income inequality in OECD nations: 1995-2007. The Economic and Social Review, v. 43, n. 4, p. 477-495, 2013.
LANGLEY, P. The everyday life of global finance: saving and borrowing in Anglo-America. Oxford: OUP, 2008.
LAPAVITSAS, C. Financialised capitalism: crisis and financial expropriation. Historical Materialism, v. 17, n. 2, p. 114-148, 2009.
LAPAVITSAS, C. Theorizing financialization. Work, Employment & Society, 25(4), 611–626. 2011
LAZZARATO, M. Neoliberalism in action inequality, insecurity and the reconstitution of the social. Theory, culture & society, 26(6), 109-133. 2009
LEE, R., CLARK, G. L., POLLARD, J., & LEYSHON, A. The remit of financial geography– before and after the crisis. Journal of Economic Geography, 9(5), 723-747. 2009
MAKDISI, S. Lebanon: Monetary Developments, Management and Performance in the Postwar Period up to 1972. Part II. Middle East Journal, 29(2), 199-206. 1975
MARTIN, R. Financialization of daily life. Temple University Press. 2002
MCMICHAEL, P. The land grab and corporate food regime restructuring. The Journal of Peasant Studies, 39(3-4), 681-701. 2012
OLCZYK, M. Bibliometric approach to tracking the concept of international competitiveness, Journal of Business Economics and Management, 17(6), 945-9592016
ORHANGAZI, Ö. Financialisation and capital accumulation in the non-financial corporate sector: A theoretical and empirical investigation on the US economy: 1973–2003. Cambridge Journal of Economics, 32(6), 863-886. 2008
PIKE, A., & POLLARD, J. Economic Geographies of Financialization. Economic Geography, 86(1), 29-52. 2010
SAWYER, M. What Is Financialization? International Journal of Political Economy, 42(4), 5–18. 2013
SAWYER, M. Confronting Financialisation. In P. Arestis & M. Sawyer (Eds.), Financial Liberalisation (pp. 43–85). Cham: Springer International Publishing. 2016
SKOTT, P., & RYOO, S. Macroeconomic implications of financialisation. Cambridge Journal of Economics, 32(6), 827-862. 2008
SMALL, H. Co‐citation in the scientific literature: A new measure of the relationship between two documents. Journal of the Association for Information Science and Technology, 24(4), 265-269. 1973
SOKOL, M. Towards a ‘newer’ economic geography? Injecting finance and financialisation into economic geographies. Cambridge Journal of Regions, Economy and Society, 6(3), 501- 515. 2013
STOCKHAMMER, E. Financialisation and the slowdown of accumulation. Cambridge Journal of Economics, 28(5), 719-741. 2004
TANG, K., & XIONG, W. Index investment and the financialization of commodities. Financial Analysts Journal, 68(5), 54-74. 2012
TOMASKOVIC-DEVEY, D.; LIN, K. H. Income dynamics, economic rents, and the financialization of the US economy. American Sociological Review, v. 76, n. 4, p. 538-559, 2011.
TOMASKOVIC-DEVEY, D.; LIN, K. H.; MEYERS, N. Did financialization reduce economic growth? Socio-Economic Review, v. 13, n. 3, p. 525-548, 2015.
TOPOROWSKI, J. Neologism as theoretical innovation in economics: the case of “financialisation.” In: O’SULLIVAN, P.; ALLINGTON, N. F. B.; ESPOSITO, M. (Ed.). The Philosophy, politics and economics of finance in the 21st century: from hubris to disgrace. New York, NY: Routledge, 2015. p. 254-266.
VAN DER ZWAN, N. Making sense of financialization. Socio-Economic Review, v. 12, n. 1, p. 99-129, 2014.
VAN ECK, N. J.; WALTMAN, L. Bibliometric mapping of the computational intelligence field. International Journal of Uncertainty, Fuzziness and Knowledge-Based Systems, v. 15, n. 5, p. 625-645, 2007.
VAN ECK, N. J.; WALTMAN, L. Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, v. 84. n. 2, p. 523-538, 2010.
VAN ECK, N. J.; WALTMAN, L. Citation-based clustering of publications using CitNetExplorer and VOSviewer. Scientometrics, 2017. Retrieve from: https://dx.doi.org/10.1007/s11192-017-2300-7.
VERCELLI, A. Financialization in a long-run perspective: an evolutionary approach. International Journal of Political Economy, v. 42, n. 4, p. 19-46, 2013.
VERCELLI, A. The evolution of financialisation. In: VERCELLI, A. Crisis and sustainability. London: Palgrave Macmillan UK, 2017. p. 89-115.
WALTMAN, L.; VAN ECK, N. J.; NOYONS, E. C. A unified approach to mapping and clustering of bibliometric networks. Journal of Informetrics, v. 4, n. 4, p. 629-635, 2010.
WILLIAMS, K. From shareholder value to present-day capitalism. Economy and Society, v. 29, n. 1, p. 1-12, 2000.
ZHANG, Y.; ANDREW, J. Financialisation and the conceptual framework. Critical perspectives on accounting, v. 25, n. 1, p. 17-26, 2014.
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