Semi-peripheral financialisation: the case of Portugal

Abstract

This paper presents the main features of the financialisation of the Portuguese economy and society by focusing on the relation between the Portuguese financial sector and both external and domestic economic agents. It underlines the role played by the insertion of domestic finance into international financial markets in the financialisation of the country. Based on the Portuguese case, it elaborates on the theoretical understanding of the context-specific nature of semi-peripheral financialisation aimed as a contribution to an emerging body of literature addressing this phase of capitalism.