The political economy literature on post‐disaster reconstruction tends to contrast ‘disaster capitalism’ narratives denouncing the predatory character of neoliberal rebuilding, and ‘building back better’ policies supporting market‐driven reconstruction. This article seeks to provide a more nuanced account, developing the concept of ‘disaster financialization’ through a case study of household‐level changes experienced through processes of post‐earthquake reconstruction in Nepal. The concept of disaster financialization describes not only the integration of disaster‐affected households into the cash‐based logic of reconstruction instituted by donors and government authorities, but also the financialization of their lives, social relations and subjectivities. It is a transitive process involving a shift into financialized mechanisms of disaster prevention, adaptation and recovery. Analysing contrasting experiences across three earthquake‐affected districts in Nepal, this study proposes disaster financialization as an integrative term through which to understand the simultaneous acceleration of monetization, the leveraging of cash incentives by donors and government to ‘build back better’, and the flurry of financial transactions associated with reconstruction processes. While some aspects of disaster financialization have had negative social impacts, such as debt‐related anxieties and a breakdown of voluntary labour exchanges hurting the most vulnerable, the process has taken on variegated forms, with equally variegated effects, reflecting household characteristics and interactions with financial institutions.

中文翻译：

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灾难金融化：尼泊尔的地震，现金流和家庭经济变化

关于灾后重建的政治经济学文献倾向于将“灾害资本主义”的叙述与新自由主义重建的掠夺性特征以及“更好地重建”支持市场驱动的重建的政策进行对比。本文旨在通过对尼泊尔地震后重建过程中经历的家庭层面变化的案例研究，提供一个更加细致入微的解释，发展“灾难金融化”的概念。灾害金融化的概念不仅描述了将受灾家庭纳入捐助者和政府当局制定的现金制重建逻辑中，还描述了其生活，社会关系和主观性的金融化。这是一个过渡性的过程，涉及向防灾，适应和恢复的财务机制转变。通过对尼泊尔三个受地震影响地区的经验进行对比分析，本研究提出将灾害金融化作为一个综合术语，通过它可以理解货币化的同时加速，捐助者和政府利用现金激励手段以“更好地重建”以及急速发展。与重建过程相关的金融交易。虽然灾难金融化的某些方面产生了负面的社会影响，例如与债务相关的焦虑以及破坏最弱势群体的自愿劳动交流的中断，但该过程采用了多种形式，效果各不相同，