Key Concepts in Economic Geography is a new kind of textbook that forms part of an innovative set of companion texts for the human geography sub-disciplines. Organized around 20 short essays, this book provides a cutting edge introduction to the central concepts that define contemporary research in economic geography. Involving detailed and expansive discussions, the book includes:
An introductory chapter providing a succinct overview of the recent developments in the field; Over 20 key concept entries with comprehensive explanations, definitions, and evolutions of the subject; Extensive pedagogic features that enhance understanding including figures, diagrams, and further reading
An ideal companion text for advanced undergraduate and graduate students in economic geography, the book presents the key concepts in the discipline, demonstrating their historical roots, and contemporary applications to fully understand the processes of economic change, regional growth and decline, globalization, and the changing locations of firms and industries. Written by an internationally recognized set of authors, the book is an essential addition to any geography student's library.
Chapter 6.2: Financialization
The total daily turnover of international financial markets grew exponentially in the latter part of the twentieth century. Also, the shares of total employment and GDP in the financial industry have been steadily increasing in many economies. Despite the importance of financialization, no consensus has emerged on its definition. To some, it refers to the growing importance of profits generated by speculative investment. Some observers focus on the greater role of finance in individual, household, and firm behaviour (Erturk et al., 2007), while others consider the role of finance in causing systemic changes in capitalism (Strange, 1986; Boyer, 2000). Yet others view financialization as the continuous evaluation of economic investments by the financial markets.
Origins and Fundamentals
The emergence of money as a medium of exchange ...