Financialization in Peripheral Countries

Insights from the Marxist Dependency Theory

Bibliographic Data

ID12039342
AuthorsFrancisco Luiz de Andrade Neto (0000-0003-4261-3561, International Relations Graduate Program (PPGRI), Federal University of Bahia (UFBA), Salvador, Brazil, corresponding author)
Year2025
Volume57
Issue4
Pages696-705
Publication date2025-07-23
Open AccessYes
TypeARTICLE
VenueReview of Radical Political Economics (JOURNAL)
Journal identifiersISSN: 0486-6134 • E-ISSN: 1552-8502
PublisherSAGE Publishing (PUBLISHER • US)
DOI10.1177/04866134251348265
OpenAlexW4412601386
LanguageEN
References cited13

This article examines the contributions of Marxist dependency theory (MDT) to the understanding of “peripheral financialization.” It emphasizes the theory’s relevance in addressing the distinct characteristics of dependency, situating MDT within its theoretical, political, and historical contexts alongside its fundamental categories. Contemporary contributions to the analysis of financialization within this framework are explored, highlighting how this process reinforces dependent countries’ subordinated position in the global economy. In this sense, financialization marks a new stage of dependency, intensifying the structural transfer of value and aggravating the superexploitation of labor. These contributions point to an understanding of peripheral financialization that not only acknowledges the particularities of capitalist development in the periphery but also maintains a direct link to class exploitation. JEL Classification: B2, F3

Dependency (UML · Economics · Financialization · Market economy · Marxist philosophy · Neoclassical economics · Political science · Politics · Sociology · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Political Economy and Marxism

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