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Author: Viktor Skyrman
Publisher: Viktor Skyrman
ISBN: 917731297X
Category : Antiques & Collectibles
Languages : en
Pages : 277
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Book Description
Financialization, the increasing influence of financial markets, actors, practices and measurements in political, economic and social life, continues to draw attention from scholars from diverse academic fields. Contributing to the literatures on household financialization, financial market institutionalization and the financialization of nature, this dissertation explores the underlying factors that enabled and facilitated the financialization of Sweden’s growth model. Drawing from the Regulation Approach and heterodox economics, it analyzes how covered bonds, an overlooked topic in financialization studies, have contributed to “de-risking” European financial markets, decelerated the spread of securitization, and enabled an increase in mortgage lending, house price inflation and household indebtedness, especially in Sweden. Zooming in on the Nordic forest industry, the dissertation furthermore elaborates on the differential impact of financialization on non-financial firms. Amid the entrance of shareholder value ideology, it shows how innovation was undermined through R&D downsizing while dividends have been increased to shareholders at labor’s expense. Meanwhile, profitability has been supported by appreciating forest assets that are increasingly treated as a new financial asset class by the financial sector. In addition, providing data on welfare retrenchment, financialization indicators and corporate governance, while app lying a Gramscian Regulation Approach, the dissertation analyzes the structural pressures and the formation of a particular neoliberal hegemony that have shaped the financialization of Sweden’s previously universal welfare sector. Whereas financial markets have been seen as crucial for growth and employment, the dissertation furthermore documents how financial deepening has mainly resulted in increased mortgage lending, while public sector debt has increasingly been perceived as economically detrimental by policymakers. The dissertation finalizes with some stylized facts of financialization in small Wes tern economies and how they relate to Sweden.
Author: Viktor Skyrman
Publisher: Viktor Skyrman
ISBN: 917731297X
Category : Antiques & Collectibles
Languages : en
Pages : 277
Get Book Here
Book Description
Financialization, the increasing influence of financial markets, actors, practices and measurements in political, economic and social life, continues to draw attention from scholars from diverse academic fields. Contributing to the literatures on household financialization, financial market institutionalization and the financialization of nature, this dissertation explores the underlying factors that enabled and facilitated the financialization of Sweden’s growth model. Drawing from the Regulation Approach and heterodox economics, it analyzes how covered bonds, an overlooked topic in financialization studies, have contributed to “de-risking” European financial markets, decelerated the spread of securitization, and enabled an increase in mortgage lending, house price inflation and household indebtedness, especially in Sweden. Zooming in on the Nordic forest industry, the dissertation furthermore elaborates on the differential impact of financialization on non-financial firms. Amid the entrance of shareholder value ideology, it shows how innovation was undermined through R&D downsizing while dividends have been increased to shareholders at labor’s expense. Meanwhile, profitability has been supported by appreciating forest assets that are increasingly treated as a new financial asset class by the financial sector. In addition, providing data on welfare retrenchment, financialization indicators and corporate governance, while app lying a Gramscian Regulation Approach, the dissertation analyzes the structural pressures and the formation of a particular neoliberal hegemony that have shaped the financialization of Sweden’s previously universal welfare sector. Whereas financial markets have been seen as crucial for growth and employment, the dissertation furthermore documents how financial deepening has mainly resulted in increased mortgage lending, while public sector debt has increasingly been perceived as economically detrimental by policymakers. The dissertation finalizes with some stylized facts of financialization in small Wes tern economies and how they relate to Sweden.
Author:
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ISBN:
Category : Computer network resources
Languages : en
Pages : 300
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Book Description
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Publisher: Oxford University Press
ISBN: 0197607888
Category : Political Science
Languages : en
Pages : 561
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Book Description
A set of state of the art empirical analyses at the country, regional, and global level that work from a new theoretical framework that analyzes the politics of growth and stagnation. As highlighted by the recent debate on 'secular stagnation,' economic growth has slowed down considerably, and this has given rise to a host of new problems, from financial instability to the collapse of mainstream parties. What happens when growththe main mechanism of capitalist legitimationis harder to come by and less broadly shared? And how should we think about capitalist diversity in the context of global stagnation? In Diminishing Returns, Lucio Baccaro, Mark Blyth, and Jonas Pontusson address these questions by bringing together a number of comparative and international political economists with expertise across many different countries and regions. Going beyond the methodological nationalism common in most comparative research, each author departs from a common theoretical framework, the Growth Model Perspective, and contributes to develop it further. The outcome is a new theoretical framework to help social scientists, policymakers, and opinion makers, understand the politics of growth and stagnation, which offers state of the art empirical analyses at the country, regional, and global level.
Author: Richard B. Freeman
Publisher: University of Chicago Press
ISBN: 0226261859
Category : Political Science
Languages : en
Pages : 490
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Book Description
Once heralded in the 1950s and 1960s as a model welfare state, Sweden is now in transition and in trouble since its economic plunge in the early 1990s. This volume presents ten essays that examine Sweden's economic problems from a U.S. perspective. Exploring such diverse topics as income equalization and efficiency, welfare and tax policy, wage determination and unemployment, and international competitiveness and growth, they consider how Sweden's welfare state succeeded in eliminating poverty and became a role model for other countries. They then reflect on Sweden's past economic problems, such as the increase in government spending and the fall in industrial productivity, warning of problems to come. Finally they review the consequences of the collapse of Sweden's economy in the early 1990s, exploring the implications of its efforts to reform its welfare state and reestablish a healthy economy. This volume will be of interest to policymakers and analysts, social scientists, and economists interested in welfare states.
Author: Luis Cárdenas del Rey
Publisher: Routledge
ISBN: 1000391337
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
This book combines demand-led growth models and the institutionalist approach, in order to explain the macroeconomic performance of the main European countries in recent years followed by which a coherent explanation of the institutional change since the Great Recession, including the economic policy response to the economic and financial crisis (2008) and to the debt crisis (2010) is provided. A "Comparative Political Economy" (CPE) analytical framework and provide an institutional base to the different European growth models is built, in general terms over the period 1995-2018. The results allow us to link diverse growth dynamics to the changes of the institutional framework as a consequence of the economic and financial crises. In each chapter for country case studies (France, Germany, Italy, Spain, Greece, Sweden, UK and Poland) there;’s an ntroduction with a general characterization of the country and the most relevant changes that have occurred subsequently (main legislative milestones or changes in the behaviour of social agents) especially the process of dualization or deregulation of European economies. In addition, an analysis of the macroeconomic evolution and the situation of the labour market before and after the crisis from a demand-side perspective is included, concluding with the linkages between both issues and the characterization of the growth model. This book is of special interest to all the students and university professors who will use this book to be able to follow a multitude of subjects from Applied Economy to International Economic Structure but can also be useful for researchers, doctoral students and teaching staff who want to expand knowledge in the fields of comparative political economy, institutions and the European Union. In general, this book is aimed at anyone interested in expanding their knowledge of the evolution of Europe today.
Author: Anke Hassel
Publisher: Oxford University Press
ISBN: 0192635824
Category : Political Science
Languages : en
Pages : 481
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Book Description
Growth and Welfare in Advanced Capitalist Economies takes stock of the major economic challenges that advanced industrial democracies have faced since the early 1990s and the responses by governments to them. It has three goals: firstly, to further our understanding of how political economies have transformed over the past decades; secondly, to analyse the contribution of governments to these changes, by looking at their growth strategies and thirdly, to highlight and analyse the role of the reforms of welfare systems in this transformative change. In a nutshell, this book maps and provides general understanding of the evolution of growth regimes in advanced capitalist countries. It identifies five main growth regimes in contemporary advanced capitalist economies (three export-led and two domestic demand-led ones). To do so the book combines a supply side approach to economic growth as advocated by the Varieties of Capitalism Literature (OUP, 2001) with a demand side perspective as the recent discussion on growth models has exemplified. It argues that all political economies consist of growth regimes, which are based on a set of institutions that shape the supply side of the economy as well as on demand drivers such as government spending and private consumption. Both supply and demand are heavily shaped by the welfare state which provides for skills through education systems and stimulates demand through high social spending and private pension funds. The book focuses on the analysis of welfare reforms as growth strategies pursued by governments in an era characterised by financialization and the rise of the knowledge economy.
Author: Dani Filc
Publisher: Edward Elgar Publishing
ISBN: 1035311402
Category : Political Science
Languages : en
Pages : 173
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Book Description
This ground-breaking book goes beyond conventional arguments to explore how and why populists are able to hold power for long periods. It illustrates that exclusionary populist movements maintain power whenever they succeed in stabilizing social structures around a political project promoted as an alternative to the current hegemony.
Author: Lars Magnusson
Publisher: Routledge
ISBN: 113467595X
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
This book represents the first recent attempt to provide a comprehensive treatment of Sweden's economic development since the middle of the 18th century. It traces the rapid industrialisation, the political currents and the social ambitions, that transformed Sweden from a backward agrarian economy into what is now regarded by many as a model welfar
Author: Kennedy, Paul
Publisher: Policy Press
ISBN: 1447332660
Category : Political Science
Languages : en
Pages : 240
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Book Description
Around the world, parties of the left and center-left have been struggling, losing ground to right-wing parties and various forms of reactionary populism. This book brings together a range of leading academics and experts on social democratic politics and policy to offer an international, comparative view of the changing political landscape. Using case studies from the United Kingdom, Germany, Spain, France, Australia and New Zealand contributors argue that despite different local and specific contexts, the mainstream center-left is beset by a range of common challenges. Analysis focuses on institutional and structural factors, the role of key individuals, and the atrophy of progressive ideas as interconnected reasons for the current struggles of the center-left.
Author: Richard B. Freeman
Publisher: University of Chicago Press
ISBN: 0226261913
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
Over the course of the twentieth century, Sweden carried out one of the most ambitious experiments by a capitalist market economy in developing a large and active welfare state. Sweden's generous social programs and the economic equality they fostered became an example for other countries to emulate. Of late, Sweden has also been much discussed as a model of how to deal with financial and economic crisis, due to the country's recovery from a banking crisis in the mid-1990s. At that time economists heatedly debated whether the welfare state caused Sweden's crisis and should be reformed—a debate with clear parallels to current concerns over capitalism. Bringing together leading economists, Reforming the Welfare State examines Sweden's policies in response to the mid-1990s crisis and the implications for the subsequent recovery. Among the issues investigated are the way changes in the labor market, tax and benefit policies, local government policy, industrial structure, and international trade affected Sweden's recovery. The way that Sweden addressed its economic challenges provides valuable insight into the viability of large welfare states, and more broadly, into the way modern economies deal with crisis.
