The politics of mortgage credit expansion in the small coordinated market economies
Bibliographic Data
| ID | 6408065 |
|---|---|
| Authors | Kim M Anderson (0000-0002-1352-604X, University College Dublin, corresponding author), Karen M Anderson (Social Policy, University College Dublin, Dublin, Ireland), Paulette Kurzer (0000-0002-6368-7087, University of Arizona) |
| Year | 2020 |
| Volume | 43 |
| Issue | 2 |
| Pages | 366-389 |
| Publication date | 2020-02-23 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | West European Politics (JOURNAL) |
| Journal identifiers | ISSN: 0140-2382 • E-ISSN: 1743-9655 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/01402382.2019.1596421 |
| OpenAlex | W2944343118 |
| Language | EN |
| Citations received | 20 |
| References cited | 52 |
Recent contributions to the comparative political economy literature claim that liberal market economies are vulnerable to asset booms and busts because of financial deregulation, shrinking welfare states and a political ideology emphasising financial self-sufficiency. This article examines the rapid expansion of mortgage lending in three coordinated market economies (CMEs): Denmark, Sweden and the Netherlands. This expansion is puzzling given that all three countries are CMEs with generous welfare states. Yet the pattern of mortgage lending resembles the Anglo-Saxon or liberal market economies (LMEs) more than other CMEs. The article argues that mortgage bubbles in the small CMEs emerged as the unintended outcome of pairing neoliberal programmes to expand home ownership with collectivist housing institutions. This resulted in supply restrictions and rising property values which saddled households with extraordinarily high mortgage debts. In short, mortgage credit bubbles are not unique to Anglo-liberal welfare states and may have different origins
Economics · Financial system · Market economy · Political economy · Political science · Politics · Welfare state · Housing, Finance, and Neoliberalism · Law · Political and Economic history of UK and US · Social Policy and Reform Studies
It is as if one may not be clean
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It takes two to tango
Housing and electoral behaviour
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Housing prices and wealth inequality in Western Europe
The impact of welfare on household debt
The state house prices make
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The inversion of the ‘really big trade-off
The young and the restless
The hidden homeownership welfare state
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Financialization and assetization
The Ideology of Home Ownership
The Financialization of Housing
The People's Home?
The Failure of Anglo-liberal Capitalism
Segregation, gentrification, and residualisation
Financialization and housing
Capitalizing on Crisis
Social Protection and the Formation of Skills
Varieties of Capitalism
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Changing Welfare States
The Routledge Handbook of the Welfare State
How Institutions Evolve
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Swedish welfare state and housing markets
What has debt got to do with it? The Valuation of Homeownership in the Era of Financialization
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A Monstrous Hybrid
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Beyond Home Ownership
Reducing Housing Subsidy
From Poor Relief to Institutional Welfare States
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Neoliberalization of Housing in Sweden
The politics of quantitative easing and housing stimulus by the Federal Reserve and European Central Bank, 2008‒2018
Housing prices and wealth inequality in Western Europe
A Crisis of What? Mortgage Credit Markets and the Social Policy of Promoting Homeownership in the United States and in Europe
Cognitive Closure’ in the Netherlands
Equality as a driver of inequality? Universalistic welfare, generalised creditworthiness and financialised housing markets
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| Unique citing works | 20 |
|---|---|
| Citations per year | 2,86 |
| Citation span | 2019 - 2026 (8) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 20 |