Reference Entry

financialization

Alisdair Rogers, Noel Castree and Rob Kitchin

in A Dictionary of Human Geography

Published in print January 2013 | ISBN: 9780199599868
Published online September 2013 | e-ISBN: 9780191758065
financialization

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The process whereby *finance capital and financial institutions account for a greater share of all economic activity. Since the early 1980s several countries allowed banks (commercial and retail), credit card firms, building societies, insurance companies, and other financial institutions to expand their customer base. They did this in two ways. First, they offered established financial products to more customers (such as credit cards). Second, they created new financial products and popularized them (such as collateralized debt obligations and credit default swaps). The global financial crisis that began in ...

Reference Entry.  163 words. 

Subjects: Human Geography

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