The Inexorable Evolution of Financialisation

1. Front Matter

   Pages i-xv

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2. Introduction: Financial Crises — An Inter-Temporal, Inter-National and Endogenous Capitalist Problem

   • Domna M. Michailidou

   Pages 1-14

3. A Keynesian and Post-Keynesian Theoretical Brief: Selected Concepts

   • Domna M. Michailidou

   Pages 15-37

4. Post-1980 Global Liquidity Data: Exponential Flows

   • Domna M. Michailidou

   Pages 38-46

5. Supply-Push: The Western-Induced Endogenous Generation and Proliferation of Liquidity

   • Domna M. Michailidou

   Pages 47-55

6. Demand-Pull: The Internally Induced Attractiveness of Emerging Markets

   • Domna M. Michailidou

   Pages 56-63

7. Mexico: The Laissez Faire Paragon Gone Wrong

   • Domna M. Michailidou

   Pages 64-83

8. Brazil: The Anti-Mexican Public Debt Failure

   • Domna M. Michailidou

   Pages 84-104

9. South Korea: The Private Debt Story

   • Domna M. Michailidou

   Pages 105-120

10. Deregulation and Volatility: Where the Three Economies Meet

    • Domna M. Michailidou

    Pages 121-151

11. An Endogenous Conclusion

    • Domna M. Michailidou

    Pages 152-168

12. Back Matter

    Pages 169-200

    PDF

Since the 2007 financial crisis, discussion on issues related to the size, spread and frequency of financial crises has captivated a wide variety of audiences. Why has the world economy experienced such a marked increase in financial transactions and private and public indebtedness since the 1980s? How have middle-income developing countries suddenly become a part of this dynamic? And, most importantly, how has the topic of financial crises been featured in households’ daily discussions in both developed and developing parts of the world?


Domna Michailidou addresses the questions above through exploring the inexorable evolution of financialisation into financial crisis through the examination of three middle-income countries: Mexico, Brazil and South Korea. Concentrating on emerging economies, and especially choosing three very different economies that all experienced financial crises in the 1990s, this book explores what lessons can be learnt regarding financial fragility, volatility and failure in the wake of capital market liberalisation.

• Financial crises
• financialisation
• capital flows
• capital account liberalisation
• emerging economies
• public debt
• private debt
• manias
• panics and crashes
• financial instability
• financial volatility
• Keynesian economics
• Post-Keynesian economic theory
• South Korea
• Mexico
• Brazil
• Keynes

• Department of Country Studies, OECD, Paris, France

  Domna M. Michailidou

• Judge Business School, University of Cambridge, UK

  Domna M. Michailidou

Domna M. Michailidou works for the OECD Economics Division focusing on the Greek financial crisis. She has a PhD from the Centre for Development Studies in the University of Cambridge, UK, where she lectures and teaches Economic Development at both undergraduate and graduate levels. Currently, Domna is also a research fellow at the Judge Business School's Middle East Research Group and a teaching fellow at UCL's School of Public Policy, UK.

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