Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe
Abstract After 2008, the spectacular collapse of financial markets in the United States, Spain, Iceland, Portugal, and Greece has induced researchers to conceptualize financialization as a rapid and unsustainable increase in liquidity. In Macedonia, a small country at the periphery of the European U...
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crwiley:10.1111/1467-9655.12861 2024-09-15T18:13:58+00:00 Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe Mattioli, Fabio 2018 http://dx.doi.org/10.1111/1467-9655.12861 https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2F1467-9655.12861 http://onlinelibrary.wiley.com/wol1/doi/10.1111/1467-9655.12861/fullpdf en eng Wiley http://onlinelibrary.wiley.com/termsAndConditions#vor Journal of the Royal Anthropological Institute volume 24, issue 3, page 568-588 ISSN 1359-0987 1467-9655 journal-article 2018 crwiley https://doi.org/10.1111/1467-9655.12861 2024-08-09T04:27:59Z Abstract After 2008, the spectacular collapse of financial markets in the United States, Spain, Iceland, Portugal, and Greece has induced researchers to conceptualize financialization as a rapid and unsustainable increase in liquidity. In Macedonia, a small country at the periphery of the European Union, however, the spread of financial instruments and debt coincided with an increased use of in‐kind payments instead of money. Focusing on a type of non‐monetary exchanges that Macedonians call kompenzacija , the article shows how in‐kind payments are integrated to financial flows, and are crucial to the emergence of an authoritarian regime. In the Macedonian context, kompenzacija is part of an oppressive set of relations whereby companies are forced to provide monetary credit to the regime by accepting payment in goods that lose value over time. The article describes the conditions that shape financialization at the periphery of Europe, and identifies in value conversions a crucial variable for understanding the interconnection between politics and finance. Article in Journal/Newspaper Iceland Wiley Online Library Journal of the Royal Anthropological Institute 24 3 568 588 |
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English |
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Abstract After 2008, the spectacular collapse of financial markets in the United States, Spain, Iceland, Portugal, and Greece has induced researchers to conceptualize financialization as a rapid and unsustainable increase in liquidity. In Macedonia, a small country at the periphery of the European Union, however, the spread of financial instruments and debt coincided with an increased use of in‐kind payments instead of money. Focusing on a type of non‐monetary exchanges that Macedonians call kompenzacija , the article shows how in‐kind payments are integrated to financial flows, and are crucial to the emergence of an authoritarian regime. In the Macedonian context, kompenzacija is part of an oppressive set of relations whereby companies are forced to provide monetary credit to the regime by accepting payment in goods that lose value over time. The article describes the conditions that shape financialization at the periphery of Europe, and identifies in value conversions a crucial variable for understanding the interconnection between politics and finance. |
format |
Article in Journal/Newspaper |
author |
Mattioli, Fabio |
spellingShingle |
Mattioli, Fabio Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe |
author_facet |
Mattioli, Fabio |
author_sort |
Mattioli, Fabio |
title |
Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe |
title_short |
Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe |
title_full |
Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe |
title_fullStr |
Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe |
title_full_unstemmed |
Financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of Europe |
title_sort |
financialization without liquidity: in‐kind payments, forced credit, and authoritarianism at the periphery of europe |
publisher |
Wiley |
publishDate |
2018 |
url |
http://dx.doi.org/10.1111/1467-9655.12861 https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2F1467-9655.12861 http://onlinelibrary.wiley.com/wol1/doi/10.1111/1467-9655.12861/fullpdf |
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Iceland |
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Iceland |
op_source |
Journal of the Royal Anthropological Institute volume 24, issue 3, page 568-588 ISSN 1359-0987 1467-9655 |
op_rights |
http://onlinelibrary.wiley.com/termsAndConditions#vor |
op_doi |
https://doi.org/10.1111/1467-9655.12861 |
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Journal of the Royal Anthropological Institute |
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24 |
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3 |
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568 |
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588 |
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1810451750810812416 |