Show/Hide Menu
Hide/Show Apps
Logout
Türkçe
Türkçe
Search
Search
Login
Login
OpenMETU
OpenMETU
About
About
Open Science Policy
Open Science Policy
Open Access Guideline
Open Access Guideline
Postgraduate Thesis Guideline
Postgraduate Thesis Guideline
Communities & Collections
Communities & Collections
Help
Help
Frequently Asked Questions
Frequently Asked Questions
Guides
Guides
Thesis submission
Thesis submission
MS without thesis term project submission
MS without thesis term project submission
Publication submission with DOI
Publication submission with DOI
Publication submission
Publication submission
Supporting Information
Supporting Information
General Information
General Information
Copyright, Embargo and License
Copyright, Embargo and License
Contact us
Contact us
Too big to manage: US megabanks' competition by innovation and the microfoundations of financialization
Download
index.pdf
Date
2019-07-01
Author
Vielma, Nicole Cerpa
Cömert, Hasan
D'avino, Carmela
Dymski, Gary
Kaltenbrunner, Annina
Petratou, Eirini
Shabani, Mimoza
Metadata
Show full item record
This work is licensed under a
Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
.
Item Usage Stats
90
views
72
downloads
Cite This
Disagreements over the systemic implications-the future-of financialization can be traced in part to the absence of sustained attention to the role of banking firms in driving this secular shift forward. That is, the financialization literature lacks an adequate microfoundation. Accounting for the drivers of financialization processes solely at the macro level overlooks the problems of how these processes came about and whether they are sustainable. This paper addresses this explanatory gap, arguing that a key independent microeconomic driver of increasing financialization did exist: the incessant efforts by money-centre banks in the USA to break out of Depression-era restrictions on their size, activities, and markets. These banks' growth strategies in turbulent times led to an institutional (meso) shift-the rise of a megabank-centred shadow banking system-that now shapes global financial architecture even while operating in ways that are unsustainable. In short, too-big-to-manage megabanks are at the heart of the fragility and instability of the economy today.
URI
https://hdl.handle.net/11511/94110
Journal
CAMBRIDGE JOURNAL OF ECONOMICS
DOI
https://doi.org/10.1093/cje/bez027
Collections
Department of Economics, Article
Suggestions
OpenMETU
Core
Consequentialist versus deontological ethical dispositions of Turkish banking sector managers : comparing a public and a private bank
Karaoğlu (Kırbaşlı), Dilşad; Üstüner, Mustafa Yılmaz; Department of Political Science and Public Administration (2006)
The aim of this thesis is to see in a descriptive manner, whether there is a difference in the ethical disposition of public and private banking sector managers in Türkiye, according to two ethical theories: consequentialism (based on the consequences of the action) and deontologism (based on principles). The study analyzes the preferences of the managers both in the way of thinking and acting to see whether people act consistently with their way of thinking. The degree of validity of consequentialism/deont...
Losing the sight of the whole : a critical review of three schools of international political economy on globalisation and the state
Nazikoğlu, Zeynep; Yalman, Osman Galip; Department of Political Science and Public Administration (2004)
Within this thesis, the dominant conceptualisations of the state/market and the national/global within international political economy are put into a critical scrutiny. It is emphasized that within most of the analyses of globalisation and the state, these conceptualisations are built in a dualist manner and that the internal relation between them is ignored. Within this context, it will be focused on three prominent approaches in contemporary international political economy literature, namely regulation ap...
Transformation of urban sphere: Hacibayram square and its environment, Ankara
Yardımcı, Sinem; Sargın, Güven Arif; Department of Architecture (2008)
The aim of this thesis is put forward a critical inquiry into the new advent neoliberal publicity and the spatiality which brought forth by this emergent publicity in Ankara thereby interrogating some key concepts such as neoliberalism, neoliberal urbanization, public space and publicity. “The Renovation Project of Ankara Historical City Center” will be assessed owing to constitute a model for understanding the tendencies in the planning of public spaces of Ankara for the last two decades. Considering the v...
Does economic freedom help or hurt the emerging markets? the moderating effect of economic freedom on the corporate governance - financial performance relationship: a cross-country study
Gün, Görkem; Sayarı Marcum, Naz.; Department of Business Administration (2019)
This study investigates the relationship between corporate governance and financial performance of firms from distinct perspectives. First, the governance-performance relationship is examined by using three different types of financial performance indicators, which include accounting-based, valuation-based, and market-based performance indicators. Second, the study examines the governance-performance relationship in the emerging economies., while a sample of G-7 economies is also used to provide a compariso...
Flexible labour policy and the crisis of trade unionism: the case of Tekel workers resistance in Ankara
Tosun, Mehtap; Kalaycıoğlu, Hediye Sibel; Department of Sociology (2011)
The aim of this thesis is to examine the practices directed to the flexibilisation of the labor brought together with the means of neoliberal structuring and the trade union crisis appeared as an outcome of these in terms of the Tekel Workers’ resistance in Ankara. The theoretical frame of this study is created in the content of the discussions that starting from the Marxist approach on trade unions and the critical view within this approach focus on the reasons of the crisis of the trade unions as a result...
Citation Formats
IEEE
ACM
APA
CHICAGO
MLA
BibTeX
N. C. Vielma et al., “Too big to manage: US megabanks’ competition by innovation and the microfoundations of financialization,”
CAMBRIDGE JOURNAL OF ECONOMICS
, vol. 43, no. 4, pp. 1103–1121, 2019, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/94110.