Table of Contents

The Financialization Response to Economic Disequilibria

The Financialization Response to Economic Disequilibria

European and Latin American Experiences

New Directions in Post-Keynesian Economics series

Edited by Noemi Levy and Etelberto Ortiz

Europe and Latin America’s social and economic stagnation is a direct result of the unresolved phenomena of the financialization crisis that broke out in 2008 in developed countries. Editors Noemi Levy and Etelberto Ortiz analyze the limitations of economic growth and development under capitalist economic organizations where financial capital is dominant, as well as explore alternative economic policies.

Chapter 4: The periphery in the productive globalization: a new dependency?

Alan Cibils and Germán Pinazo

Subjects: development studies, development economics, economics and finance, financial economics and regulation, political economy, post-keynesian economics


In the chapter, ‘The periphery in the productive globalization: a new dependency?,’ the authors analyse the role of peripheral countries in what has been called the new international division of labor from two perspectives. First discussed is the theoretical debates centered on new growth theory, neostructuralism, and the renewed interest in structuralist and dependency theories. Second, a broad range of statistical aggregates are presented and analysed. The authors conclude that there is justification for the use of dependency concepts for peripheral countries in today’s international division of labor.

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