What is Subordinate Financialization? with Ewa Karwowski
Ewa Karwowski will guide us through ways to quantify and recognize financialization in the global south. Also we will discuss why this particular theoretical frame may be useful to look at contemporary issues that developing countries face and how it is related to structural issues.
Ewa Karwowski (University of Hertfordshire) is focused on the operations of large corporations, particularly how firms' behaviour has changed in a financialised setting. Her expertise centers on finance, financialisation and development.
00:00 Introductions Sara and Rodrigo
05:48 Start presentation by Ewa Karwowski: What is Subordinate Financialization
07:21 Definition of financialization, and subordination
09:00 Distinctiveness of DEEs experience
11:24 Financial Liberalization
12:36 Consequences, financial inflows, portfolio inflows
16:45 Reserves are costly!
19:02 Foreign Direct Investment
21:47 Debt Liabilities
23:45 Further Reading, some clarifications (sterilisation by Central Banks, costs of lending)
30:30 Q&A: Financialisation vs democracy and democratic order, privatisation
34:34 Q&A: National economic elite in Global South
37:00 Q&A: Deregulation , disaster capitalism, current prospects and the counternarative
40:44 Q&A: Bretton Woods 2.0 and Green New Deals: how to finance those?
46:00 Q&A: Dependency of the USA on Third World countries
50:37 Q&A: Financialization and exploitaiton, and climate crisis
54:00 Q&A: Logics of financialization: Central Banks, Foreign exchange
58:12 Q&A: Why 'Subordinate' Financialization? & FDI and household debt
01:01:30 Wrap up by Sara
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