The American spirit: The performativity of folk economics in global financial markets

IF 4.6 1区社会学 Q1 ENVIRONMENTAL STUDIES Environment and Planning A-Economy and Space Pub Date : 2023-04-18 DOI:10.1177/0308518x231169738

E. Tarim, A. Gozluklu, G. Muradoglu

引用次数: 0

Abstract

Inspired by Austin's conceptualisation of utterances as performative, that is, they do things rather than merely represent, research has shown how scientific theories can become performative in financial markets. Research also shows that brokerage and investment work is as much about using everyday knowledge of markets as it is about performing scientific theories. We investigate whether and how this knowledge or what Swedberg calls ‘folk economics’ can also be performative. We focus on Borsa Istanbul, an emerging market where market actors perform what we call ‘the American Spirit’ – a ubiquitous folk theory that frames and plots the Turkish market as one that moves in tandem with American and other developed markets – and in the process become better market forecasters. Our findings have implications for the study of folk economics and performativity in global economy and finance.

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美国精神:民间经济学在全球金融市场中的表现

受奥斯汀将话语概念化为表现性的启发，也就是说，他们做事情而不仅仅是代表，研究表明科学理论如何在金融市场中成为表现性的。研究还表明，经纪和投资工作既需要运用日常市场知识，也需要运用科学理论。我们调查了这种知识或Swedberg所说的“民间经济学”是否也可以发挥作用，以及如何发挥作用。我们关注的是伊斯坦布尔证券交易所(Borsa Istanbul)，这是一个新兴市场，市场参与者表现出我们所说的“美国精神”——这是一种无处不在的民间理论，它将土耳其市场描绘成与美国和其他发达市场齐头并进的市场——并在此过程中成为更好的市场预测者。我们的研究结果对民间经济学和全球经济与金融绩效的研究具有启示意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Environment and Planning A-Economy and Space Multiple-

CiteScore

9.50

自引率

9.50%

发文量

100

期刊介绍： Environment and Planning A: Economy and Space is a pluralist and heterodox journal of economic research, principally concerned with questions of urban and regional restructuring, globalization, inequality, and uneven development. International in outlook and interdisciplinary in spirit, the journal is positioned at the forefront of theoretical and methodological innovation, welcoming substantive and empirical contributions that probe and problematize significant issues of economic, social, and political concern, especially where these advance new approaches. The horizons of Economy and Space are wide, but themes of recurrent concern for the journal include: global production and consumption networks; urban policy and politics; race, gender, and class; economies of technology, information and knowledge; money, banking, and finance; migration and mobility; resource production and distribution; and land, housing, labor, and commodity markets. To these ends, Economy and Space values a diverse array of theories, methods, and approaches, especially where these engage with research traditions, evolving debates, and new directions in urban and regional studies, in human geography, and in allied fields such as socioeconomics and the various traditions of political economy.