Abstract

MUSACCHIO, Andrés. Neoliberalism, international insertion and financialization: a comparison between Argentina and Portugal. Prob. Des [online]. 2020, vol.51, n.201, pp.155-178.  Epub Nov 09, 2020. ISSN 0301-7036.  https://doi.org/10.22201/iiec.20078951e.2020.201.69442.

This paper aims to analyze financialized peripheral neoliberalism (FPN) as a specific form of neoliberalism. After presenting four different forms FPN can take and criteria to delimit them, its general characteristics are then examined. The paper highlights a common policy matrix, a similar model of production structures focused on financial accumulation, and a common formulation of international valorization processes. Comparing two countries that exemplify FPN (Argentina and Portugal), the above general characterization is corroborated. However, specificities in monetary regulation, international insertion and population regulation mechanisms are also observed, which give the model specific nuances important for analyzing crises and proposing alternatives for differently structured development policies.

Keywords : financialized peripheral neoliberalism; financialized economy; financial sector; monetary and exchange rate policy; degree of autonomy.