A Different Financialization Story: Sui Generis Financialization Led By “Captains of Finance” During the Pandemic in an Emerging Market
Abstract
In this study, the link between the financialization process and financial frictions in the Turkish economy during the pandemic is explored. The behavior of the banking sector was found to be crucial to the financialization process. Financial frictions, shaped by the banking system, influenced the financialization of manufacturing firms during the pandemic. The study, therefore, focuses on the financialization process under the Veblenian Captains of Finance argument and highlights the importance of financial frictions in this process.
Fields of Study & Subjects
Housing
Finance
and Neoliberalism
Economic Theory and Policy
Political Economy and Marxism
Publication details
- Journal / source
- Journal of Economic Issues
- Volume
- 60
- Issue
- 1
- Pages
- 166–179
- Publication date
- 2 January 2026
- Language
- EN