The Road to Financialization in Central and Eastern Europe: The Early Policies and Politics of Stabilizing Transition
Narratives of macroeconomic stabilization played an important part in the financialization of the formerly planned economies. The excess demand narrative, one of the least contested ‘problems’ of post-socialist transformation, shaped central banks' liquidity policies and thus translated the priorities of financialized capitalism into policy goals and practices. The paper challenges the boundaries of the debates on post-socialist economic developments, contextualizes the representation of the stabilization ‘problem’ in those debates and reinterprets them from the standpoint of financialization. If the excess demand narrative is treated as a contested account of the stabilization ‘imperative’, its role as catalyst for the financialization of the banking sector and the shift to impatient finance becomes apparent. An alternative approach to stabilization is further outlined, drawing on institutionalist conceptualizations of the role of money in capitalist production.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 24 (2012)
Issue (Month): 2 (April)
|Contact details of provider:|| Web page: http://www.tandfonline.com/CRPE20 |
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CRPE20|
When requesting a correction, please mention this item's handle: RePEc:taf:revpoe:v:24:y:2012:i:2:p:227-249. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.