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International Financial Crises: Scourge or Blessings in Disguise?

Author

Listed:
  • Mathieu Dufour

    (Department of Economics, University of Massachusetts-Amherst; e-mail: mathieu@econs.umass.edu)

  • Özgür Orhangazi

    (Department of Economics, Roosevelt University; e-mail: oorhangazi@roosevelt.edu)

Abstract

In this article, the authors study the consequences of financial crises in Argentina, Brazil, South Korea, Malaysia, Mexico, Thailand, and Turkey and present an attempt to identify winners and losers during and after the crises. Through empirical analysis, the authors find that financial crises seem to benefit certain segments of international finance capital, and domestic capital, and structural changes imposed on the economy to remedy the situation further the interests and power of capital in general.

Suggested Citation

  • Mathieu Dufour & Özgür Orhangazi, 2007. "International Financial Crises: Scourge or Blessings in Disguise?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 39(3), pages 342-350, September.
    • Handle: RePEc:sae:reorpe:v:39:y:2007:i:3:p:342-350
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    Citations

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    Cited by:

    1. Mathieu Dufour & Özgür Orhangazi, 2016. "Growth and distribution after the 2007–2008 US financial crisis: who shouldered the burden of the crisis?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(2), pages 151-174, April.
    2. Mathieu Dufour & Ozgur Orhangazi, 2009. "The 2000-2001 Financial Crisis in Turkey: A Crisis for Whom?," Review of Political Economy, Taylor & Francis Journals, vol. 21(1), pages 101-122.
    3. Özgür Orhangazi, 2011. "“Financial” vs. “Real”: An Overview of the Contradictory Role of Finance," Research in Political Economy, in: Revitalizing Marxist Theory for Today's Capitalism, pages 121-148, Emerald Group Publishing Limited.

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