uu.seUppsala University Publications
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Against (the idea of) financial markets
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Institute for Housing and Urban Research.
2015 (English)In: Geoforum, ISSN 0016-7185, E-ISSN 1872-9398, Vol. 66, 85-93 p.Article in journal (Refereed) Published
Resource type
Text
Abstract [en]

The difference between bank-based and market-based financial systems is a longstanding and influential conceptual staple of the interdisciplinary literature on finance. This dualistic model has been subjected to wide-ranging critiques over the past decade. Yet, while those critiques productively problematize the relationship between banks and markets presumed by the model, they fail to address the underlying distinction between banks and markets that is also presumed by the model. This article questions that distinction. It argues that financial markets are best understood not as places or platforms where banks and other financial actors come to interact - and thus as essentially separate from banks - but, instead, as, in large part, their interaction; as constituted by it. The article further argues for the political as well as scholarly importance of reconfiguring our ideas of what financial markets are. The idea of markets as separate, reified phenomena not only underpins the scholarly model of bank- and market-based financial systems - it does political work in the wider world, with the appeal to financial markets or, more nebulously, "the market" to rationalize and justify political decision-making having become a commonplace of contemporary public policy discourse. (C) 2015 Elsevier Ltd. All rights reserved.

Place, publisher, year, edition, pages
2015. Vol. 66, 85-93 p.
Keyword [en]
Finance, Markets, Banks, Financial systems, Disintermediation
National Category
Human Geography
Identifiers
URN: urn:nbn:se:uu:diva-269977DOI: 10.1016/j.geoforum.2015.09.011ISI: 000364885000009OAI: oai:DiVA.org:uu-269977DiVA: diva2:885595
Available from: 2015-12-19 Created: 2015-12-19 Last updated: 2017-12-01Bibliographically approved

Open Access in DiVA

No full text

Other links

Publisher's full text

Authority records BETA

Christophers, Brett

Search in DiVA

By author/editor
Christophers, Brett
By organisation
Institute for Housing and Urban Research
In the same journal
Geoforum
Human Geography

Search outside of DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric score

doi
urn-nbn
Total: 515 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf