Financialization, Austerity, and Inclusion in Latin America and the Caribbean

Diogo L. Pinheiro; Dwight Wilson; Rana S. Gautam

doi:10.5771/9781793647962

Summary

Financialization, Austerity, and Inclusion in Latin America and the Caribbean examines the spread of financialization since 1980, highlighting the ideational origins of financialization outside the region, its effects on government budgeting and social inclusion, and options for increased inclusivity. Rana S. Gautam, Diogo L. Pinheiro, and Dwight Wilson argue that rather than a mechanistic implementation of external pressures, financialization is a complex social process with ideational origins in which national-level actors participate. Ultimately, the authors find that deeper financial integration, the expansion of credit, and reliance on international bond markets drives governments to cut certain areas of social spending and drives inequality but ameliorates absolute poverty. There is, therefore, space for agents to mold financialization and its inclusiveness.

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Bibliographic data

Edition: 1/2023
Copyright Year: 2023
ISBN-Print: 978-1-7936-4795-5
ISBN-Online: 978-1-7936-4796-2
Publisher: Lexington, Lanham
Language: English
Pages: 168
Product Type: Monograph

1. Figures No access
2. Tables No access
3. Preface No access
1. 1.1 Financialization and Its Many Faces No access
2. 1.2 Measuring Financialization No access
3. 1. 1.3.1 The Two Tales of Financialization No access
  2. 1.3.2 A Bridge Not Too Far No access
4. 1.4 The Plan for the Book No access
5. Notes No access
6. Bibliography No access
1. 1. 2.1.1 Early Financial Institutions in Latin America No access
2. 2.2 The Emergence of Financialization in the Core No access
3. 2.3 Financialization Comes to Latin America No access
4. 2.4 Conclusion No access
5. Bibliography No access
1. 1. 3.1.1 Economy as Obstacle Course: Structure No access
  2. 3.1.2 Constructing the Course: Ideas No access
2. 3.2 The Problem of Complexity No access
3. 1. 3.3.1 Market Ideology No access
  2. 3.3.2 Ideologies: Connecting Theory to Policy No access
  3. 3.3.3 Ideological Import and Diffusion No access
4. 3.4 Blindspot: Market Ideology No access
5. 3.5 Blindspot: Critical Approaches No access
6. 3.6 Implications No access
7. Conclusion: Testing Theory No access
8. Bibliography No access
1. 4.1 Background No access
2. 4.2 Existing Perspectives on Spending and Financialization No access
3. 1. 4.3.1 How the Markets View Social Spending No access
  2. 4.3.2 Government Spending and Default No access
  3. 4.3.3 Methods No access
  4. 1. 4.3.4.1 Dependent Variables No access
    2. 4.3.4.2 Independent Variables No access
  5. 4.3.5 Results No access
4. 4.4 Conclusion No access
5. Bibliogaphy No access
1. 5.1 Poverty, Inequality, and Inclusion No access
2. 1. 5.2.1 Social Inclusion and Benefit Sharing No access
3. 5.3 Trends in Relative and Absolute Inclusion No access
4. 1. 5.4.1 Inequality Beyond Financialization No access
5. 1. 5.5.1 Results No access
  2. 5.5.2 Inclusion and the Pandemic No access
6. 5.6 Conclusion No access
7. Notes No access
8. Bibliography No access
1. 6.1 Financialization in Review No access
2. 6.2 Market Ideology, Financialization, and Agency No access
3. 6.3 Findings No access
4. 6.4 A Final Word No access
5. Bibliography No access
Index No access Pages 161 - 166
About the Authors No access Pages 167 - 168