Tag Archives: banking system

Princes of the Yen and the Japanese Shock Doctrine

Posted on July 5, 2016 by

“It is better for the Bank of Japan not to attract attention and remain as quit as the forest in a rural shrine.” – Hisato Ichimada, the 18th Governor of the Bank of Japan, 1946-1954 (Werner 2003: 70) “Thanks to this … Continue reading →

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The debt crisis and austerity in the Eurozone: social and political impacts

Posted on April 1, 2016 by

During the past six years, the countries of the European periphery – Portugal, Ireland, Italy, Greece and Spain – have been experiencing severe economic-financial crises. In the shadow of these drastic events, the EU institutions and the IMF initiated “bailout programs” for … Continue reading →

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Créditez-vous français? Credit as a relationship and a practice

Posted on October 29, 2015 by

I’m subscribed to “Gdr-economie-sociologie” – an academic mailing list of French and French-speaking economic sociologists and political economists. Receiving through this list announcements about new interesting and enlightening books and articles (in French), intellectually inviting conferences and seminars (conducted in French, … Continue reading →

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China’s Minsky moment? Stability leads to instability

Posted on August 24, 2015 by

Hyman Minsky (1919–1996) was a distinguished American scholar and prominent post-Keynesian economist. In the wake of the 2008-2009 crisis Minsky’s invaluable scientific contribution has widely spread, but soon he has unfortunately disappeared from public and economic discussions. While most of the mainstream economists are … Continue reading →

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Fed with credit: financial “liberalization”, deregulation and the role of credit in Iceland’s collapse

Posted on August 19, 2015 by

Beginning in the 1990s, Iceland embarked on a major “liberalization” policy, privatizing its financial sector and reorganizing regulation. The resulting highly concentrated banking sector refocused on investment banking and international operations, while businesses, consumers and the finance industry itself borrowed … Continue reading →

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The political origins of the banking regulation and the international cooperation at the Federal Reserve and the European Central Bank

Posted on July 29, 2015 by

Neither the U.S. Federal Reserve nor the European Central Bank was created as a banking supervisory institution. Each has evolved into its current role, yet for different reasons. In “The Foundations Of Regulatory Convergence And Divergence Between The Federal Reserve And … Continue reading →

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Democracy matters: the extension of the franchise and its impact on financial systems

Posted on May 22, 2015 by

For centuries, voting rights were limited to wealthy elites, aristocrats, and landlords. For instance,  the electorate in England and Wales in 1780 consisted of less than 3% of the total population. Suffrage reforms, enacted during the late 19th and the 20th … Continue reading →

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What is financialization? Marxism, Post-Keynesianism and Economic Sociology’s complementary theorizing

Posted on January 31, 2015 by

The economic crisis erupted in 2007-2008, commonly known around the world as the Global Financial Crisis and in the US as the Great Recession, highlighted – for those who deliberately or unintentionally have in recent years overlooked – the ascendancy of finance, a … Continue reading →

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The incredible collapse of Ireland’s Celtic Tiger: corporatism, neoliberalism and globalization run amok

Posted on January 25, 2015 by

In 2008 Ireland experienced one of the most dramatic economic crises of any economy in the world. It remains at the heart of the international crisis, sitting uneasily between the US and European economies. Not long ago, however, Ireland was … Continue reading →

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“Banks and the False Dichotomy in the Comparative Political Economy of Finance” challenges the understanding of bank-based financial system

Posted on June 26, 2014 by

The wide-ranging varieties of capitalism literature rests on a particular conception of banks and banking that, the authors argue, no longer reflects the reality of modern financial systems. Iain Hardie, David Howarth, Sylvia Maxfield and Amy Verdun take advantage of the greater … Continue reading →

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The Bank of England’s “‪‎Money‬ Creation in the Modern ‪‎Economy‬” erodes the mainstream ‪economics‬ and ‪‎finance‬ theory

Posted on April 30, 2014 by

Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits. … Continue reading →

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“Bank Behaviour and Resilience: the Effect of Structures, Institutions and Agents” challenges conventional thinking about the varieties of capitalism

Posted on April 5, 2014 by

Why were banking sectors in ‘liberal’ and ‘coordinated’ market economies with similar financial systems, operating under the same set of global rules, more resilient than others during the Global Financial Crisis? Building on the rich body of knowledge in institutional analysis and … Continue reading →

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Why are banking systems unstable in some countries–but not in others? Since 1840, the US had 12 crises; Canada had none.

Posted on March 20, 2014 by

Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, “Fragile by Design” (Free access to the First chapter) demonstrates that chronic banking crises and scarce credit are not accidents … Continue reading →

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Financial Centres and International Capital Flows in the 19th and 20th Centuries

Posted on October 10, 2011 by

As interest in financial markets intensifies, stimulated by the financial crisis of the early 21st century, Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries, a new volume edited by Laure Quennouëlle-Corre and Youssef Cassis, brings together leading authorities in … Continue reading →

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