Pub Date : 2023-05-09DOI: 10.1177/0308518x231169288
Philip Völlers, Thomas Neise, Philip Verfürth, M. Franz, Felix Bücken, K. Schumacher
Until the so-called GPN 2.0 approach placed it on the research agenda, risk had played a subordinate role in the literature on global production networks (GPN). In GPN 2.0, Knight's economic notion of risk is applied and defined as rationally calculable, in contrast to uncertainties. However, this still dominant conceptualization of risk falls short of an actor-centered focus, which is a focal point of the GPN 2.0 approach. Therefore, we advocate for a stronger conceptual integration of a social constructivist premise with a spatio-relational understanding of risk to enhance the explanatory power of GPN risk. This article highlights that GPN risk needs to be framed as becoming causally significant in the perception and expectations of organizational decision-makers. We argue that the organization-environment interaction causes the production and constitution of risk. In pursuit of an integrative research design, we develop a multi-scalar framework based on a performative risk narrative perspective.
{"title":"Revisiting risk in the Global Production Network approach 2.0 - Towards a performative risk narrative perspective","authors":"Philip Völlers, Thomas Neise, Philip Verfürth, M. Franz, Felix Bücken, K. Schumacher","doi":"10.1177/0308518x231169288","DOIUrl":"https://doi.org/10.1177/0308518x231169288","url":null,"abstract":"Until the so-called GPN 2.0 approach placed it on the research agenda, risk had played a subordinate role in the literature on global production networks (GPN). In GPN 2.0, Knight's economic notion of risk is applied and defined as rationally calculable, in contrast to uncertainties. However, this still dominant conceptualization of risk falls short of an actor-centered focus, which is a focal point of the GPN 2.0 approach. Therefore, we advocate for a stronger conceptual integration of a social constructivist premise with a spatio-relational understanding of risk to enhance the explanatory power of GPN risk. This article highlights that GPN risk needs to be framed as becoming causally significant in the perception and expectations of organizational decision-makers. We argue that the organization-environment interaction causes the production and constitution of risk. In pursuit of an integrative research design, we develop a multi-scalar framework based on a performative risk narrative perspective.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"4 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88147022","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-08DOI: 10.1177/0308518X231172201
Nina Ebner
Economic geographers have long emphasized the ways in which borders are central to capitalism's uneven development. Yet even as scholarship outlines how borders are central devices for the articulation of the global political economy, they often are framed as functional to the system's immanent dynamics or as theoretical devices, with borderlands invisibilized as complex sites and spaces in their own right. Drawing on Margaret Ramírez's concept of a borderland analytic, I ask what a position from the U.S.–Mexico borderlands might help us to understand about capitalism's uneven development, both in particular and more generally. On the one hand, a borderland analytic connotes an empirical return to border spaces as a way to reconstruct how the border, and processes of bordering, underpin the creation of relational (and racialized) hierarchies that assign differential value to human life, labor, and place in the borderlands, effectively underwriting the forms of economic devaluation key to the region's ‘competitiveness’ in a restructuring global economy. On the other hand, a borderland analytic connotes a methodological orientation to the work that borders do as a part of processes of uneven development more broadly, which evolves through the (re)ordering and recoding of sociospatial differences, rather than from their elimination.
{"title":"A borderland analytic: Thinking uneven development from the U.S.–Mexico borderlands","authors":"Nina Ebner","doi":"10.1177/0308518X231172201","DOIUrl":"https://doi.org/10.1177/0308518X231172201","url":null,"abstract":"Economic geographers have long emphasized the ways in which borders are central to capitalism's uneven development. Yet even as scholarship outlines how borders are central devices for the articulation of the global political economy, they often are framed as functional to the system's immanent dynamics or as theoretical devices, with borderlands invisibilized as complex sites and spaces in their own right. Drawing on Margaret Ramírez's concept of a borderland analytic, I ask what a position from the U.S.–Mexico borderlands might help us to understand about capitalism's uneven development, both in particular and more generally. On the one hand, a borderland analytic connotes an empirical return to border spaces as a way to reconstruct how the border, and processes of bordering, underpin the creation of relational (and racialized) hierarchies that assign differential value to human life, labor, and place in the borderlands, effectively underwriting the forms of economic devaluation key to the region's ‘competitiveness’ in a restructuring global economy. On the other hand, a borderland analytic connotes a methodological orientation to the work that borders do as a part of processes of uneven development more broadly, which evolves through the (re)ordering and recoding of sociospatial differences, rather than from their elimination.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"36 1","pages":"1080 - 1088"},"PeriodicalIF":4.2,"publicationDate":"2023-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73672674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-07DOI: 10.1177/0308518x231156611
Matthew Archer
The outsize influence of asset managers raises important questions about the relationship between fund managers and the companies in which they are invested, with recent theorists of asset manager capitalism suggesting an emergent disinterest in the performance of individual firms among large asset managers. Investors’ growing focus on environmental, social, and governance (ESG) data in financial decisions offers one window into this relationship. Drawing on interviews with the ESG team and a group of portfolio managers at a large European bank, I argue that ESG analysis is seen as valuable not because of some unique social, environmental, or even financial benefits, but because it helps asset managers more effectively govern the companies in which they are invested by objectifying and depoliticizing their interventions in the governance of invested companies. This contributes to emerging theories of asset manager capitalism by calling attention to the strategies asset managers develop to exercise control over invested companies.
{"title":"Governing through ESG and the green spirit of asset manager capitalism","authors":"Matthew Archer","doi":"10.1177/0308518x231156611","DOIUrl":"https://doi.org/10.1177/0308518x231156611","url":null,"abstract":"The outsize influence of asset managers raises important questions about the relationship between fund managers and the companies in which they are invested, with recent theorists of asset manager capitalism suggesting an emergent disinterest in the performance of individual firms among large asset managers. Investors’ growing focus on environmental, social, and governance (ESG) data in financial decisions offers one window into this relationship. Drawing on interviews with the ESG team and a group of portfolio managers at a large European bank, I argue that ESG analysis is seen as valuable not because of some unique social, environmental, or even financial benefits, but because it helps asset managers more effectively govern the companies in which they are invested by objectifying and depoliticizing their interventions in the governance of invested companies. This contributes to emerging theories of asset manager capitalism by calling attention to the strategies asset managers develop to exercise control over invested companies.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"57 6 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90679971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-07DOI: 10.1177/0308518x231174023
Zhenfa Li, Fulong Wu, Fangzhu Zhang
Local government bonds (LGBs) have become the most important tool of the Chinese state for financing infrastructure projects. The underwriters and investors in LGBs are mostly commercial banks, with state actors holding the overwhelming majority of shares. We call these state-controlled market actors. This article investigates the role of state-controlled market actors in LGB issuance to extend the understanding of state actors and state–market relations in the financialisation of urban governance. The findings show that they underwrite and invest in LGBs to support the government's development objectives and make profits. They can hardly affect the government to create the terms and conditions of bonds to favour their financial interests, but they manage to make substantial profits. They follow the policy trends to identify LGBs as risk-free and reflexively change their investment priority towards the bonds. Due to the low interest rates, the banks mainly profit from bond trading in the secondary market and fiscal fund investment. There are preferential policies for LGB trading in the secondary market, and local governments deposit fiscal funds in the banks to motivate them to do LGB business. We argue that reflexively making investment decisions according to the policy environment and making profits by exploiting political resources represented by preferential policies and fiscal funds show the adaptability of the state-controlled market actors.
{"title":"Adaptable state-controlled market actors: Underwriters and investors in the market of local government bonds in China","authors":"Zhenfa Li, Fulong Wu, Fangzhu Zhang","doi":"10.1177/0308518x231174023","DOIUrl":"https://doi.org/10.1177/0308518x231174023","url":null,"abstract":"Local government bonds (LGBs) have become the most important tool of the Chinese state for financing infrastructure projects. The underwriters and investors in LGBs are mostly commercial banks, with state actors holding the overwhelming majority of shares. We call these state-controlled market actors. This article investigates the role of state-controlled market actors in LGB issuance to extend the understanding of state actors and state–market relations in the financialisation of urban governance. The findings show that they underwrite and invest in LGBs to support the government's development objectives and make profits. They can hardly affect the government to create the terms and conditions of bonds to favour their financial interests, but they manage to make substantial profits. They follow the policy trends to identify LGBs as risk-free and reflexively change their investment priority towards the bonds. Due to the low interest rates, the banks mainly profit from bond trading in the secondary market and fiscal fund investment. There are preferential policies for LGB trading in the secondary market, and local governments deposit fiscal funds in the banks to motivate them to do LGB business. We argue that reflexively making investment decisions according to the policy environment and making profits by exploiting political resources represented by preferential policies and fiscal funds show the adaptability of the state-controlled market actors.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"14 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90759851","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-01DOI: 10.1177/0308518x231170193
L. Cirolia, R. Sitas, A. Pollio, Alexis Gatoni Sebarenzi, P. Guma
The rise of digital platforms in urban Africa has been rightfully critiqued as an example of global techno-capital seeking new frontiers of profit among precarious lives and from fragile infrastructures. However, this techno-pessimistic reading of so-called “platform urbanism” leaves us with a bleak outlook on the future of the African city as a mere site of accumulation and exploitation. In this article, in contrast, we offer a more ambivalent analysis of a compelling trend in several African cities: the platformization of motorcycle taxis. Our focus is on Kigali and Nairobi two cities that have been celebrated as “Silicon Savannahs” for their commitment to digital innovation, and where motorcycle taxis have long contributed to the regular movement of people and goods. Deploying a Southern urban perspective on the digitization of these mobility systems, we make two contributions to platform urbanism debates. First, we show that this phenomenon dovetails two decades of supply-side, developmental investments in the connectivity infrastructure upon which platforms rely and are predicated. Second, we show that platform urbanism is not simply a case of global technologies landing in Africa. It is characterized by a proliferation of experiments in which domestic and international capital coalesce, platforms intersect in dynamic ways with informal economies, and local adaptations are necessary for survival. Overall, we argue that the platformization of motorcycles in these cities (and arguably others) constitutes a dynamic and evolving landscape that requires more careful conceptual and empirical attention.
{"title":"Silicon Savannahs and motorcycle taxis: A Southern perspective on the frontiers of platform urbanism","authors":"L. Cirolia, R. Sitas, A. Pollio, Alexis Gatoni Sebarenzi, P. Guma","doi":"10.1177/0308518x231170193","DOIUrl":"https://doi.org/10.1177/0308518x231170193","url":null,"abstract":"The rise of digital platforms in urban Africa has been rightfully critiqued as an example of global techno-capital seeking new frontiers of profit among precarious lives and from fragile infrastructures. However, this techno-pessimistic reading of so-called “platform urbanism” leaves us with a bleak outlook on the future of the African city as a mere site of accumulation and exploitation. In this article, in contrast, we offer a more ambivalent analysis of a compelling trend in several African cities: the platformization of motorcycle taxis. Our focus is on Kigali and Nairobi two cities that have been celebrated as “Silicon Savannahs” for their commitment to digital innovation, and where motorcycle taxis have long contributed to the regular movement of people and goods. Deploying a Southern urban perspective on the digitization of these mobility systems, we make two contributions to platform urbanism debates. First, we show that this phenomenon dovetails two decades of supply-side, developmental investments in the connectivity infrastructure upon which platforms rely and are predicated. Second, we show that platform urbanism is not simply a case of global technologies landing in Africa. It is characterized by a proliferation of experiments in which domestic and international capital coalesce, platforms intersect in dynamic ways with informal economies, and local adaptations are necessary for survival. Overall, we argue that the platformization of motorcycles in these cities (and arguably others) constitutes a dynamic and evolving landscape that requires more careful conceptual and empirical attention.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"121 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89434927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-25DOI: 10.1177/0308518x231170194
Aarti Krishnan
Recent research on embeddedness in global production networks (GPNs) has begun to move beyond the dominant perspective on how lead firms embed into host countries to investigate how non-lead firms embed across multiple scales in a GPN. This paper builds on such work by examining both processes of how, and the extent to which, different Southern suppliers embed into GPNs, detailing the contestation, struggles, and synergies faced. Empirical evidence is provided through a case study of Kenyan horticulture. Using a mixed-method approach of interviews and surveys, the paper finds that Kenyan farmers and Kenyan export firms (KEFs) have varied ways in which they embed, with farmers more embedded (highly dependent on network relationships and participation in a GPN) and KEFs simultaneously less embedded (having a low degree of commitment towards farmers) in GPNs. Overarchingly, the results demonstrate the need to account for the complex ways in which non-lead firm actors like Southern suppliers embed in GPNs.
{"title":"Embeddedness beyond the lead firm in global production networks: Insights from Kenyan horticulture","authors":"Aarti Krishnan","doi":"10.1177/0308518x231170194","DOIUrl":"https://doi.org/10.1177/0308518x231170194","url":null,"abstract":"Recent research on embeddedness in global production networks (GPNs) has begun to move beyond the dominant perspective on how lead firms embed into host countries to investigate how non-lead firms embed across multiple scales in a GPN. This paper builds on such work by examining both processes of how, and the extent to which, different Southern suppliers embed into GPNs, detailing the contestation, struggles, and synergies faced. Empirical evidence is provided through a case study of Kenyan horticulture. Using a mixed-method approach of interviews and surveys, the paper finds that Kenyan farmers and Kenyan export firms (KEFs) have varied ways in which they embed, with farmers more embedded (highly dependent on network relationships and participation in a GPN) and KEFs simultaneously less embedded (having a low degree of commitment towards farmers) in GPNs. Overarchingly, the results demonstrate the need to account for the complex ways in which non-lead firm actors like Southern suppliers embed in GPNs.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"18 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72514886","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-25DOI: 10.1177/0308518x231169286
C. Burlina, A. Rodríguez‐Pose
Solitude is a rising phenomenon in the western world. The share of people affected by solitude has been rising for some time and the Covid-19 pandemic has further brought this trend to the fore. Yet, we know next to nothing about the aggregate subnational economic impact of the rise in solitude. In this paper, we analyse the consequences of solitude on regional economic performance across Europe, distinguishing between two of its key dimensions: alone living, proxied by the regional share of single-person households and loneliness, proxied by the aggregate share of social interactions. We find that solitude has important implications for economic development, but that these go in different directions. While alone living is a substantial driver of economic growth across European regions, high shares of lonely people undermine it. The connection of loneliness with economic growth is, however, dependent on the frequency of in-person meetings, with large shares of the population meeting others socially on a weekly basis, alongside a small percentage of people who never meet others, yielding the best economic returns.
{"title":"Alone and lonely. The economic cost of solitude for regions in Europe","authors":"C. Burlina, A. Rodríguez‐Pose","doi":"10.1177/0308518x231169286","DOIUrl":"https://doi.org/10.1177/0308518x231169286","url":null,"abstract":"Solitude is a rising phenomenon in the western world. The share of people affected by solitude has been rising for some time and the Covid-19 pandemic has further brought this trend to the fore. Yet, we know next to nothing about the aggregate subnational economic impact of the rise in solitude. In this paper, we analyse the consequences of solitude on regional economic performance across Europe, distinguishing between two of its key dimensions: alone living, proxied by the regional share of single-person households and loneliness, proxied by the aggregate share of social interactions. We find that solitude has important implications for economic development, but that these go in different directions. While alone living is a substantial driver of economic growth across European regions, high shares of lonely people undermine it. The connection of loneliness with economic growth is, however, dependent on the frequency of in-person meetings, with large shares of the population meeting others socially on a weekly basis, alongside a small percentage of people who never meet others, yielding the best economic returns.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"19 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78401079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-25DOI: 10.1177/0308518x231170190
Hannah Stokes-Ramos
Puerto Rico has lost an alarming amount of farmland in the past century, and land distribution is highly unequal in line with broader social patterns. These problems raise the question of alternative models that can enhance socio-ecological justice, and whether the reversal of the historical neglect of agriculture could factor significantly into such alternatives. A significant step toward such a reversal was arguably Puerto Rico's 2015 Plan de Uso de Terrenos (Land Use Plan) (PUT), the first island-level land use plan. I analyze the PUT as a Polanyian double movement to protect agricultural land from circulating as an urban asset, with the novel addition of environmental justice's “trivalent” notion of social justice. I argue that participatory justice, in particular, played a dual role in this “double movement”: first, the process achieved sufficient balance amongst actors to protect significant agricultural area from urban development; and second, the constituency mobilized through the PUT's creation later proved essential to the plan's defence against land marketization efforts. My analysis offers a unique synthesis of environmental justice and heterodox political economy and concludes that deepening dialogue across the two literatures can offer important insights for achieving emancipatory socio-ecological change in land use planning.
{"title":"Rethinking Polanyi's double movement through participatory justice: Land use planning in Puerto Rico","authors":"Hannah Stokes-Ramos","doi":"10.1177/0308518x231170190","DOIUrl":"https://doi.org/10.1177/0308518x231170190","url":null,"abstract":"Puerto Rico has lost an alarming amount of farmland in the past century, and land distribution is highly unequal in line with broader social patterns. These problems raise the question of alternative models that can enhance socio-ecological justice, and whether the reversal of the historical neglect of agriculture could factor significantly into such alternatives. A significant step toward such a reversal was arguably Puerto Rico's 2015 Plan de Uso de Terrenos (Land Use Plan) (PUT), the first island-level land use plan. I analyze the PUT as a Polanyian double movement to protect agricultural land from circulating as an urban asset, with the novel addition of environmental justice's “trivalent” notion of social justice. I argue that participatory justice, in particular, played a dual role in this “double movement”: first, the process achieved sufficient balance amongst actors to protect significant agricultural area from urban development; and second, the constituency mobilized through the PUT's creation later proved essential to the plan's defence against land marketization efforts. My analysis offers a unique synthesis of environmental justice and heterodox political economy and concludes that deepening dialogue across the two literatures can offer important insights for achieving emancipatory socio-ecological change in land use planning.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"15 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88229611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-18DOI: 10.1177/0308518x231169738
E. Tarim, A. Gozluklu, G. Muradoglu
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.
{"title":"The American spirit: The performativity of folk economics in global financial markets","authors":"E. Tarim, A. Gozluklu, G. Muradoglu","doi":"10.1177/0308518x231169738","DOIUrl":"https://doi.org/10.1177/0308518x231169738","url":null,"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.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"23 1","pages":""},"PeriodicalIF":4.2,"publicationDate":"2023-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78423421","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-11DOI: 10.1177/0308518X231156171
Linda Szabó, Csaba Jelinek
The 2008 financial crisis allowed for the rising power of China to expand deeper into more (semi-)peripheral regions: in the past decade, the role of China and Chinese SOEs has increased markedly in Eastern Europe. This has been in step with China's geopolitical and geoeconomic expansion, hallmarked by the Belt and Road Initiative; the reconstruction of the Belgrade-Budapest railway line constitutes one of its flagship projects in Europe. This paper aims to explore the complexities of the current reconfiguration of state-capital nexus through an empirical analysis of this particular development project; in doing so, we hope to contribute to the scholarly debate about the heuristic use of ‘new’ state capitalism in three specific ways. First, instead of conceptualizing the state as a territorially confined power container, we propose to scrutinize the state-capital nexus from a multi-scalar and relational perspective. Second, we claim that the study of funding, financing and governing of large-scale infrastructural investments is a fruitful analytical entry point to theorize the changing relations between ‘state’ and ‘capital’. Finally, we argue that from the perspective of contemporary shifts in global power structures, the emergence of state capitalist modalities in the Eastern peripheries of Europe should be understood as a ‘co-production’ of the geopolitical rivalry and elite capture of domains of infrastructure. In terms of methodology, in order to show how state-capital relations are produced, enacted and redrawn, the study builds on the analysis of media sources, policy documents, company networks, semi-structured interviews, and non-participant observations.
{"title":"State, capitalism and infrastructure-led development: A multi-scalar analysis of the Belgrade-Budapest railway construction","authors":"Linda Szabó, Csaba Jelinek","doi":"10.1177/0308518X231156171","DOIUrl":"https://doi.org/10.1177/0308518X231156171","url":null,"abstract":"The 2008 financial crisis allowed for the rising power of China to expand deeper into more (semi-)peripheral regions: in the past decade, the role of China and Chinese SOEs has increased markedly in Eastern Europe. This has been in step with China's geopolitical and geoeconomic expansion, hallmarked by the Belt and Road Initiative; the reconstruction of the Belgrade-Budapest railway line constitutes one of its flagship projects in Europe. This paper aims to explore the complexities of the current reconfiguration of state-capital nexus through an empirical analysis of this particular development project; in doing so, we hope to contribute to the scholarly debate about the heuristic use of ‘new’ state capitalism in three specific ways. First, instead of conceptualizing the state as a territorially confined power container, we propose to scrutinize the state-capital nexus from a multi-scalar and relational perspective. Second, we claim that the study of funding, financing and governing of large-scale infrastructural investments is a fruitful analytical entry point to theorize the changing relations between ‘state’ and ‘capital’. Finally, we argue that from the perspective of contemporary shifts in global power structures, the emergence of state capitalist modalities in the Eastern peripheries of Europe should be understood as a ‘co-production’ of the geopolitical rivalry and elite capture of domains of infrastructure. In terms of methodology, in order to show how state-capital relations are produced, enacted and redrawn, the study builds on the analysis of media sources, policy documents, company networks, semi-structured interviews, and non-participant observations.","PeriodicalId":48432,"journal":{"name":"Environment and Planning A-Economy and Space","volume":"35 1","pages":"1281 - 1304"},"PeriodicalIF":4.2,"publicationDate":"2023-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73368289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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