Financialisation in the Post-Yugoslav Region: Monetary Policy, Credit Money and Dollarization

Živković, Andreja (2017) Financialisation in the Post-Yugoslav Region: Monetary Policy, Credit Money and Dollarization. Revista de Economía Mundial, 46. pp. 117-134. ISSN 1576-0162

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Abstract

This paper considers long term processes of financialisation in the former and post-Yugoslavia. Regional monetary policy has since the 1980s defended the value of credit money in order to facilitate international capital flows. It is argued that the monetary system of fixed exchange rates, inflation targeting and capital account liberalisation has institutionalised the subordinate financialisation and dollarization of the region. However the origins of dollarization are found in the historic dependency of the productive sector on foreign currency credit imports.

Item Type: Journal Article
Additional Information: Article commissioned for a special thematic issue on "Financialization and Crises in Europe". The co-editors of the special issue state in their introduction that they 'are very pleased to present such a significant selection of papers by some of the most relevant authors currently researching the connections between financialisation and crises in Europe.' See: Toporowski, J., Horn, L. and Arias, J. (2017), 'Perspectives on Financialisation and Crises in Europe', Revista de Economía Mundial 46, 17-26.
Keywords: Employment Relations, Labour Studies, Economics of the Labour-managed Firm, Financialisation, Political Economy
Faculty: ARCHIVED Faculty of Arts, Law & Social Sciences (until September 2018)
SWORD Depositor: Symplectic User
Depositing User: Symplectic User
Date Deposited: 11 Apr 2019 09:18
Last Modified: 09 Sep 2021 18:58
URI: https://arro.anglia.ac.uk/id/eprint/704277

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