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Capital market development in Southeast Asia : from speculative crisis to spectacles of financialization
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Rethel, Lena (2018) Capital market development in Southeast Asia : from speculative crisis to spectacles of financialization. Economic Anthropology, 5 (2). pp. 185-197. doi:10.1002/sea2.12116 ISSN 2330-4847.
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Official URL: https://doi.org/10.1002/sea2.12116
Abstract
The aftermath of the Asian financial crisis of 1997-1998 witnessed a significant transformation of the financial systems of the Southeast Asia region. It saw the ascendance of capital markets in financial systems that had traditionally very much relied on bank loans and other sorts of so-called relationship finance. This emergence of capital markets was by design rather than the spontaneous and natural result of their evolving market orders as policymakers have shifted from planning for outcomes to planning for uncertainty. A financialized version of capital market development, conceptualized here as situated knowledge practice, has manifested itself in increasingly spectacular financial designs. The essay explores two sites of the circulation of new financial knowledge: the dramatic performances of financial knowledge at (Islamic) capital market conferences and the new urban designs where financial knowledge is put to work. The analysis is informed by observations from Jakarta, Kuala Lumpur and Singapore.
| Item Type: | Journal Article | |||||||||
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| Subjects: | H Social Sciences > HG Finance | |||||||||
| Divisions: | Faculty of Social Sciences > Politics and International Studies | |||||||||
| Library of Congress Subject Headings (LCSH): | Financialization , Financialization -- Southeast Asia, Capital market , Capital market -- Southeast Asia | |||||||||
| Journal or Publication Title: | Economic Anthropology | |||||||||
| Publisher: | John Wiley & Sons, Inc. | |||||||||
| ISSN: | 2330-4847 | |||||||||
| Official Date: | June 2018 | |||||||||
| Dates: |
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| Volume: | 5 | |||||||||
| Number: | 2 | |||||||||
| Page Range: | pp. 185-197 | |||||||||
| DOI: | 10.1002/sea2.12116 | |||||||||
| Status: | Peer Reviewed | |||||||||
| Publication Status: | Published | |||||||||
| Access rights to Published version: | Restricted or Subscription Access | |||||||||
| Date of first compliant deposit: | 18 December 2017 | |||||||||
| Date of first compliant Open Access: | 22 May 2018 | |||||||||
| Funder: | University of Melbourne | |||||||||
| RIOXX Funder/Project Grant: |
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