University of Hertfordshire

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From the same journal

By the same authors

Corporate financialization in South Africa: From investment strike to housing bubble

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Corporate financialization in South Africa : From investment strike to housing bubble. / Karwowski, Ewa.

In: Competition and Change, Vol. 22, No. 4, 01.08.2018, p. 413-436.

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@article{db4767e98e654f608e3dbe6dd35ec1ce,
title = "Corporate financialization in South Africa: From investment strike to housing bubble",
abstract = "This article reveals the processes of financialization in the South African economy by tracing the sources and destinations of non-financial corporations{\textquoteright} liquidity. The paper argues that rather than the volume of non-financial corporations{\textquoteright} financial investment, the composition of financial assets is crucial to assess corporate financialization in the country. Non-financial businesses in South Africa fundamentally transformed their investment behaviour during the 1990s, shifting from more productive uses such as trade credit towards highly liquid and potentially innovative (and therefore risky) financial investment. Following the direction of financial flows the article shows that companies{\textquoteright} financial operations – fuelled by foreign capital inflows – are linked to the price inflation in South African property markets.",
keywords = "Cash holdings, South Africa, financialization, flow of funds, housing bubble, investment strike",
author = "Ewa Karwowski",
note = "This document is the Accepted Manuscript version. The final, definitive version of this paper has been published in Competition & Change, June 2018, published by SAGE Publishing. ",
year = "2018",
month = aug,
day = "1",
doi = "10.1177/1024529418774924",
language = "English",
volume = "22",
pages = "413--436",
journal = "Competition and Change",
issn = "1024-5294",
publisher = "Maney Publishing",
number = "4",

}

RIS

TY - JOUR

T1 - Corporate financialization in South Africa

T2 - From investment strike to housing bubble

AU - Karwowski, Ewa

N1 - This document is the Accepted Manuscript version. The final, definitive version of this paper has been published in Competition & Change, June 2018, published by SAGE Publishing.

PY - 2018/8/1

Y1 - 2018/8/1

N2 - This article reveals the processes of financialization in the South African economy by tracing the sources and destinations of non-financial corporations’ liquidity. The paper argues that rather than the volume of non-financial corporations’ financial investment, the composition of financial assets is crucial to assess corporate financialization in the country. Non-financial businesses in South Africa fundamentally transformed their investment behaviour during the 1990s, shifting from more productive uses such as trade credit towards highly liquid and potentially innovative (and therefore risky) financial investment. Following the direction of financial flows the article shows that companies’ financial operations – fuelled by foreign capital inflows – are linked to the price inflation in South African property markets.

AB - This article reveals the processes of financialization in the South African economy by tracing the sources and destinations of non-financial corporations’ liquidity. The paper argues that rather than the volume of non-financial corporations’ financial investment, the composition of financial assets is crucial to assess corporate financialization in the country. Non-financial businesses in South Africa fundamentally transformed their investment behaviour during the 1990s, shifting from more productive uses such as trade credit towards highly liquid and potentially innovative (and therefore risky) financial investment. Following the direction of financial flows the article shows that companies’ financial operations – fuelled by foreign capital inflows – are linked to the price inflation in South African property markets.

KW - Cash holdings

KW - South Africa

KW - financialization

KW - flow of funds

KW - housing bubble

KW - investment strike

UR - http://www.scopus.com/inward/record.url?scp=85049623895&partnerID=8YFLogxK

U2 - 10.1177/1024529418774924

DO - 10.1177/1024529418774924

M3 - Article

VL - 22

SP - 413

EP - 436

JO - Competition and Change

JF - Competition and Change

SN - 1024-5294

IS - 4

ER -