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Effects of financialization on the structure of production and nonfinancial private enterprises: the case of Mexico

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  • Noemi Levy-Orlik

Abstract

This article analyzes the social relations of production under conditions of financialization, emphasizing the changes taking place in the productive sector and the enterprises leading this process. The central theme of the analysis is that maximization of shareholder value has downsized and redistributed the production process, creating global supply chains and increasing financial activities in nonfinancial private firms that are independent of the financial process of production. The process of financialization has modified the relationship between developed and developing economies. The former have specialized in financial services, while the latter have deepened their industrialization process in high-technology manufacturing sectors, creating winner and loser economies.

Suggested Citation

  • Noemi Levy-Orlik, 2012. "Effects of financialization on the structure of production and nonfinancial private enterprises: the case of Mexico," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 35(2), pages 235-254.
    • Handle: RePEc:mes:postke:v:35:y:2012:i:2:p:235-254
    DOI: 10.2753/PKE0160-3477350204
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    Cited by:

    1. Feijó, Carmem Aparecida & Punzo, Lionello Franco & Tostes Lamonica, Marcos, 2021. "The growth trajectories of Argentina, Brazil, Chile and Mexico: a comparative view through the framework space lens," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    2. Wahidin, Deni & Akimov, Alexandr & Roca, Eduardo, 2021. "The impact of bond market development on economic growth before and after the global financial crisis: Evidence from developed and developing countries," International Review of Financial Analysis, Elsevier, vol. 77(C).
    3. Halima Jibril & Annina Kaltenbrunner & Effi Kesidou, 2018. "Financialisation and innovation in emerging economics," FMM Working Paper 27-2018, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    4. Annina Kaltenbrunner & Juan Pablo Painceira, 2016. "International and Domestic Financialisation in Middle Income Countries; The Brazilian Experience," Working papers wpaper146, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    5. Costas Lapavitsas & Aylin Soydan, 2020. "Financialisation in developing countries: Approaches, concepts, and metrics," Working Papers 240, Department of Economics, SOAS University of London, UK.

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