Description
Book SynopsisFinancialization, Austerity, and Inclusion in Latin America and the Caribbean examines the spread of financialization since 1980, highlighting the ideational origins of financialization outside the region, its effects on government budgeting and social inclusion, and options for increased inclusivity. Rana S. Gautam, Diogo L. Pinheiro, and Dwight Wilson argue that rather than a mechanistic implementation of external pressures, financialization is a complex social process with ideational origins in which national-level actors participate. Ultimately, the authors find that deeper financial integration, the expansion of credit, and reliance on international bond market drives governments to cut certain areas of social spending and drives inequality but ameliorates absolute poverty. There is, therefore, space for agents to mold financialization and its inclusiveness.
Table of ContentsChapter 1: The Puzzle of Financialization
Chapter 2: The Uneven Process of Financialization in Latin America
Chapter 3: Problems of Financialization
Chapter 4: Bond Markets and Their Implications for Social Spending
Chapter 5: Financialization, Social Policy, and Social Inclusion
Chapter 6: Understanding Financialization and its Consequences
