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All Outputs (93)

Monetary Subordination in the Eurozone: Fragmentation and tiering of markets and institutions (2025)
Thesis
Giordano, M. Monetary Subordination in the Eurozone: Fragmentation and tiering of markets and institutions. (Thesis). SOAS University of London

The objective of this thesis is to specify the monetary and financial dimensions of hierarchy and subordination in the European Monetary Union. It seems clear at first sight that the European Monetary Union is riven by such relations, despite the pre... Read More about Monetary Subordination in the Eurozone: Fragmentation and tiering of markets and institutions.

Has the Chinese economy been financialised? An analysis focusing on the state sector (2024)
Thesis
Shi, Y. Has the Chinese economy been financialised? An analysis focusing on the state sector. (Thesis). SOAS University of London

This dissertation analyses the financialisation of the Chinese economy by considering the transformation of the state sector, including state-owned enterprises (SOEs), the financial system (especially banks) and local governments. After surveying the... Read More about Has the Chinese economy been financialised? An analysis focusing on the state sector.

Persistent institutional malfunctioning in the Eurozone (2023)
Journal Article
Giordano, M., & Lapavitsas, C. (2023). Persistent institutional malfunctioning in the Eurozone. The Japanese Political Economy, 49(4), 324-345. https://doi.org/10.1080/2329194X.2023.2289883

Institutional change in the Eurozone is driven by the need to ensure the immediate survival of the euro rather than confronting the structural weaknesses of the common currency. The failure to deal with underlying weaknesses is demonstrated by the po... Read More about Persistent institutional malfunctioning in the Eurozone.

Realtor’s Capital: The Political Economy of Property Developers in the United States (2023)
Thesis
Qazi, S. Realtor’s Capital: The Political Economy of Property Developers in the United States. (Thesis). SOAS University of London

This dissertation charts a novel path in urban political economy by tracing the profits and the process of turnover of property developers in the United States. I refer to these developers as realtor’s capital and argue for treating them as a peculia... Read More about Realtor’s Capital: The Political Economy of Property Developers in the United States.

The return of inflation and the weakness of the side of production (2022)
Journal Article
Lapavitsas, C. (2022). The return of inflation and the weakness of the side of production. The Japanese Political Economy, 48(2/4), 149-169. https://doi.org/10.1080/2329194x.2022.2142613

The acceleration of inflation in the early 2020s following the pandemic shock poses significant risks for financialised capitalism. This article argues that the root causes of inflation do not lie with excessive money creation, as is claimed by Monet... Read More about The return of inflation and the weakness of the side of production.

Financialisation in developing countries: approaches, concepts, and metrics (2022)
Journal Article
Lapavitsas, C., & Soydan, A. (2022). Financialisation in developing countries: approaches, concepts, and metrics. International Review of Applied Economics, 36(3), 424-447. https://doi.org/10.1080/02692171.2022.2052714

Financialisation in developing countries is the subject of an expanding literature but its characteristic features and its relationship to developed countries remain unclear. Reviewing the literature, this paper shows that financialisation in develop... Read More about Financialisation in developing countries: approaches, concepts, and metrics.

Social Impact Bonds: A Critical Analysis of the Concept and its Application (2022)
Thesis
Evans, H. L. Social Impact Bonds: A Critical Analysis of the Concept and its Application. (Thesis). SOAS University of London

Since their launch in 2010, Social Impact Bonds (SIBs) have been increasingly implemented, spanning several advanced countries, representing a substantial monetary value. Often heralded as an efficient way to reduce crisis-based public services by de... Read More about Social Impact Bonds: A Critical Analysis of the Concept and its Application.

National states, transnational institutions, and hegemony in the EU (2021)
Journal Article
Lapavitsas, C., & Cutillas, S. (2022). National states, transnational institutions, and hegemony in the EU. Evolutionary and Institutional Economics Review, 19(1), 429-448. https://doi.org/10.1007/s40844-021-00227-z

The institutional framework of the EU was altered by the pandemic shock of 2020, introducing greater discretion in both monetary and fiscal policy. The changes relate mostly to monetary policy and cast light on the theoretical debates regarding natio... Read More about National states, transnational institutions, and hegemony in the EU.

Capitalism in the Ottoman Balkans : industrialisation and modernity in Macedonia (2019)
Book
Lapavitsas, C., & Cakiroglu, P. (2019). Capitalism in the Ottoman Balkans : industrialisation and modernity in Macedonia. I.B. Tauris. https://doi.org/10.5040/9781788316613

The Ottoman Empire went through rapid economic and social development in the late nineteenth and early twentieth centuries, as it approached its end. Profound changes took place in its European territories, particularly and prominently in Macedonia.... Read More about Capitalism in the Ottoman Balkans : industrialisation and modernity in Macedonia.

Political Economy of the Greek Crisis (2018)
Journal Article
Lapavitsas, C. (2018). Political Economy of the Greek Crisis. Review of Radical Political Economics, 51(1), 31-51. https://doi.org/10.1177/0486613417730363

The Greek turmoil commenced as a balance of payments, or “sudden stop”, crisis induced by large current account and primary government deficits. It became an economic and social disturbance of historic proportions. Its proximate cause was loss of com... Read More about Political Economy of the Greek Crisis.

The Redenomination Risk of Exiting the Eurozone: An Estimation Based on the Greek Case (2018)
Journal Article
Lapavitsas, C. (2018). The Redenomination Risk of Exiting the Eurozone: An Estimation Based on the Greek Case. European Law Journal: Review of European Law in Context, 24(2-3), 226-243. https://doi.org/10.1111/eulj.12276

Changing a country’s currency involves a “redenomination risk” arising due to assets and liabilities impossible to redenominate because of contracts governed by foreign law. Depreciation or appreciation of the new currency could, therefore, result in... Read More about The Redenomination Risk of Exiting the Eurozone: An Estimation Based on the Greek Case.

Financialisation at a Watershed in the USA (2018)
Journal Article
Lapavitsas, C., & Mendieta-Muñoz, I. (2018). Financialisation at a Watershed in the USA. Competition & Change, 22(5), 488-508. https://doi.org/10.1177/1024529418769472

In the period following the Great Recession of 2007-9 the financialisation of the US economy reached a watershed characterised by stagnant financial profits, falling proportions of financial sector and mortgage debt, and rising proportion of public d... Read More about Financialisation at a Watershed in the USA.

A Socialist Strategy for Europe (2018)
Journal Article
Lapavitsas, C. (2018). A Socialist Strategy for Europe. Catalyst: A Journal of Theory and Strategy, 1(3),

During the eurozone crisis much of the Left argued in favor of remaining in the European Monetary Union (EMU) and the European Union, often in the name of internationalism, while developing a broad alliance against austerity and neoliberalism. Howeve... Read More about A Socialist Strategy for Europe.

Money (2017)
Book Chapter
Lapavitsas, C. (2017). Money. In D. M. Brennan, D. Kristjanson-Gural, & C. P. Mulder (Eds.), Routledge Handbook of Marxian Economics. Routledge

Marxist Monetary Theory: Collected Papers of Costas Lapavitsas (2016)
Book
Lapavitsas, C. (Ed.). (2016). Marxist Monetary Theory: Collected Papers of Costas Lapavitsas. Brill. https://doi.org/10.1163/9789004272712

The collected papers of Costas Lapavitsas are a pathway to Marxist monetary theory, a field that continues to attract strong interest. The papers range far and wide, including markets and money, finance and the enterprise, power and money, the financ... Read More about Marxist Monetary Theory: Collected Papers of Costas Lapavitsas.