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...

Full description

Bibliographic Details
Published in:Journal of the Royal Anthropological Institute
Main Author: Mattioli, Fabio
Format: Article in Journal/Newspaper
Language:English
Published: Wiley 2018
Subjects:
Online Access: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
id crwiley:10.1111/1467-9655.12861
record_format openpolar
spelling 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
institution Open Polar
collection Wiley Online Library
op_collection_id crwiley
language English
description 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
genre Iceland
genre_facet 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
container_title Journal of the Royal Anthropological Institute
container_volume 24
container_issue 3
container_start_page 568
op_container_end_page 588
_version_ 1810451750810812416