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Platform lending and the politics of financial infrastructures
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Clarke, Chris (2019) Platform lending and the politics of financial infrastructures. Review of International Political Economy, 26 (5). pp. 863-885. doi:10.1080/09692290.2019.1616598
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Official URL: https://doi.org/10.1080/09692290.2019.1616598
Abstract
Online platform lending is typically understood as a challenge to incumbent banking institutions. Since its inception platform lending has been closely associated with particular financial and digital technological innovations that are thought to be changing how people engage in lending and borrowing around the world. In this article, I emphasize the deeply political aspect of these innovations. I claim that the platform lending model is built on the ostensible ‘infrastructural quality’ of credit providers across a number of national contexts. This helps explain why platform lending has emerged in its current form and why the firms involved tend to have a certain attachment to and association with the perceived merits of financial inclusion policy initiatives. The article further seeks to show that this infrastructural quality is politically contestable. When the politics of claims to infrastructure are taken seriously it is possible to demonstrate how platform lending, in spite of the ‘alternative’ and ‘democratizing’ discourses that surround the sector, is in fact built upon a particular set of political state and business-led agendas that essentially further entrench widespread dependence on debt.
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HG Finance | ||||||||
| Divisions: | Faculty of Social Sciences > Politics and International Studies | ||||||||
| SWORD Depositor: | Library Publications Router | ||||||||
| Library of Congress Subject Headings (LCSH): | Financial institutions , Financial institutions -- Effect of technological innovations on, Loans, Loans -- Effect of technological innovations on, Finance -- Information technology, International finance, Electronic funds transfers | ||||||||
| Journal or Publication Title: | Review of International Political Economy | ||||||||
| Publisher: | Taylor & Francis (Routledge) | ||||||||
| ISSN: | 1466-4526 | ||||||||
| Official Date: | October 2019 | ||||||||
| Dates: |
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| Volume: | 26 | ||||||||
| Number: | 5 | ||||||||
| Page Range: | pp. 863-885 | ||||||||
| DOI: | 10.1080/09692290.2019.1616598 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Reuse Statement (publisher, data, author rights): | “This is an Accepted Manuscript of an article published by Taylor & Francis inReview of International Political Economy on 27/06/2019, available online: http://www.tandfonline.com/10.1080/09692290.2019.1616598 | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| RIOXX Funder/Project Grant: |
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