The appreciation of the consequences of financial globalization is an important task for contemporary political economy. This paper maintains that industrial and macroeconomic instability faced by many developed and developing countries is likely to be attributed, to an extent, to changes in...

This paper argues that the ongoing financial and economic crisis creates an opportunity for economic geography to move to a centre stage of academic debates about the nature of contemporary capitalism. Such a ‘newer' economic geography needs to start by injecting finance and financialisation...

The financial economy: A review of the literature -- The institutional framework: The capital formation process in finance-led economies -- Thickly capitalized ventures: Housing production, illiquid assets, and social welfare -- Thinly capitalized ventures: Financing science-based innovation in...

The heavy-tailed distribution of firm sizes first discovered by Zipf (1949) is one of the best established empirical facts in economics. We show that it has strong implications for asset pricing. Due to the concentration of the market portfolio when the distribution of the capitalization of...

This paper incorporates low interest rates into a framework of Post-Keynesian theory of the firm under financialisation and uses Compustat data to provide an empirical analysis of firm behaviour in the Eurozone for the period 2000-2018. It reasons that loose monetary policy targeting low...