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Winners And Losers In Coronavirus Times: Financialisation, Financial Chains and Emerging Economic Geographies of The Covid‐19 Pandemic

Author

Listed:
  • Martin Sokol
  • Leonardo Pataccini

Abstract

This paper has two interrelated aims. First, it attempts to sketch a preliminary map of economic winners and losers to highlight the emerging economic geographies of the coronavirus pandemic. Second, it aims to explore the links between these emerging economic geographies and the processes of ‘financialisation’, drawing on the concept of ‘financial chains’. Regarding the first aim, the paper argues that the pandemic‐induced crisis will exacerbate social inequalities and deepen uneven development at multiple geographical scales. Regarding the second aim, the paper argues that the ‘financialisation’ perspective in general, and the concept of ‘financial chains’ in particular, provide useful insights into the crisis and its uneven effects, by shedding light on the complex web of flows of value and power relations established/emerging between the prospective winners and losers. It also highlights the prominent role of debt and debt‐based financial chains in shaping economic geographies in times of major global crisis.

Suggested Citation

  • Martin Sokol & Leonardo Pataccini, 2020. "Winners And Losers In Coronavirus Times: Financialisation, Financial Chains and Emerging Economic Geographies of The Covid‐19 Pandemic," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 111(3), pages 401-415, July.
    • Handle: RePEc:bla:tvecsg:v:111:y:2020:i:3:p:401-415
    DOI: 10.1111/tesg.12433
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    References listed on IDEAS

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    4. Leonardo Pataccini & Raul Eamets, 2019. "Austerity versus pragmatism: a comparison of Latvian and Polish economic policies during the great recession and their consequences ten years later," Journal of Baltic Studies, Taylor & Francis Journals, vol. 50(4), pages 467-494, October.
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    7. Joe Beswick & Georgia Alexandri & Michael Byrne & Sònia Vives-Miró & Desiree Fields & Stuart Hodkinson & Michael Janoschka, 2016. "Speculating on London's housing future," City, Taylor & Francis Journals, vol. 20(2), pages 321-341, April.
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    Cited by:

    1. Rasa Kanapickiene & Deimante Teresiene & Daiva Budriene & Greta Keliuotytė-Staniulėnienė & Jekaterina Kartasova, 2020. "The Impact Of Covid-19 On European Financial Markets And Economic Sentiment," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 14(1), pages 144-163.
    2. Joanna Stawska & Ramona Rupeika-Apoga & Maciej Malaczewski & Iwona Dorota Czechowska & Fatima Sol Murta, 2022. "Financialization: curse or salvation? The case of Latvia, a small and post-transition economy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(3), pages 173-197, March.
    3. Bull, Benedicte & Robles Rivera, Francisco, 2020. "COVID-19, elites and the future political economy of inequality reduction in Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    4. Małgorzata Uhruska & Agnieszka Małkowska, 2021. "The Impact of COVID-19 on the Work of Property Valuers: A Glance at the Polish State of Play," JRFM, MDPI, vol. 14(8), pages 1-16, August.
    5. Richard Bůžek & Christoph Scheuplein, 2022. "The Global Wealth Chains of Private‐Equity‐Run Physician Practices," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 113(4), pages 331-347, September.
    6. Martin Sokol & Leonardo Pataccini, 2022. "Financialisation, regional economic development and the coronavirus crisis: a time for spatial monetary policy? [The financialization of home and the mortgage market crisis]," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 15(1), pages 75-92.
    7. Carlos S. Galina & José F. Martínez & Bruce D. Murphy, 2023. "Constraints on Research in Biological and Agricultural Science in Developing Countries: The Example of Latin America," Publications, MDPI, vol. 11(2), pages 1-15, April.

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