Journal title ECONOMIA AGRO-ALIMENTARE
Author/s Justyna Agnieszka Franc-Dabrowskaa
Publishing Year 2020 Issue 2019/3 Language English
Pages 20 P. 677-696 File size 513 KB
DOI is like a bar code for intellectual property: to have more infomation click here
Below, you can see the article first page
If you want to buy this article in PDF format, you can do it, following the instructions to buy download credits
FrancoAngeli is member of Publishers International Linking Association, Inc (PILA), a not-for-profit association which run the CrossRef service enabling links to and from online scholarly content.
The article examines the financialization process in Western and Central and Eastern European countries using the example of agriculture, in particular, agricultural land. The phenomenon discussed is identified as ‘crawling financialization’ in Central and Eastern Europe. Countries whose economies underwent a socialpolitical transformation in the 1990s proved to be resistant to the heavy impact of the 2008 financial crisis. Agriculture is one area that should be examined for the phenomenon of financialization, because agricultural land is a desirable investment resource (after exhausting relatively safe opportunities in the financial market), and because investors from capital markets are increasingly moving into commodity markets to speculate on raw materials and agricultural products. Therefore, it is necessary to examine the extent of this phenomenon - whether it’s defined as aggressive investment or the crawling financialization of agricultural markets. This paper outlines the determinants of the development of financialization in the food sector, and examines the concept of both ‘galloping’ and ‘creeping’ financialization and their implications for the agricultural sector, with particular emphasis on agricultural land. Considering the fact that ‘financialization’ is a fuzzy concept that is open to interpretation, an attempt was made to concretize it by dividing countries into developed or developing. In addition, attention was paid to the decline in the share of agricultural land in the long-term, and the transfer of investors’ free cash from high-risk markets to the agricultural land market. This is prompted by the specific features of land, such as its inconsistency, non-reproducibility, and theoretically also indestructibility.
Keywords: Crawling financialization, emerging countries, agriculture, West, Central and Eastern Europe.
Jel codes: G14, G15, Q14
Justyna Agnieszka Franc-Dabrowskaa, Crawling financialization in Central and Eastern Europe using the example of Agriculture in "ECONOMIA AGRO-ALIMENTARE" 3/2019, pp 677-696, DOI: 10.3280/ECAG2019-003006