Financialisation, regional economic development and the coronavirus crisis: a time for spatial monetary policy?
Citation:
Sokol, M. and Pataccini, L., Financialisation, regional economic development and the coronavirus crisis: a time for spatial monetary policy?, Cambridge Journal of Regions, Economy and Society, 15, 1, 2021, 75 - 92Abstract:
This paper argues that ‘spatial monetary policy’ may be needed to achieve more territorially balanced economic development. Central banks have been key in fostering financialised economies while also preventing their collapse in times of crisis—a role further strengthened by the coronavirus pandemic. Central banks have thus become the most powerful economic policy-making institutions, just when spatial disparities are likely to deepen. In the context of crisis-ridden financialised capitalism, regional development policies should consider the spatial implications of central bank interventions and recognise monetary policy as a key element of spatial policy. Simultaneously, monetary policy should embrace an explicit spatial agenda.
Sponsor
Grant Number
European Research Council (ERC)
683197
Author's Homepage:
http://people.tcd.ie/sokolmDescription:
PUBLISHEDhttps://doi.org/10.1093/cjres/rsab033
Author: Sokol, Martin
Type of material:
Journal ArticleCollections
Series/Report no:
Cambridge Journal of Regions, Economy and Society15
1
Availability:
Full text availableKeywords:
Financialisation, Crisis, Central banks, Monetary policy, Spatial policy, Regional developmentSubject (TCD):
Inclusive Society , Smart & Sustainable Planet , financial geographyDOI:
https://doi.org/10.1093/cjres/rsab033Metadata
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