Abstract

The financialization debate has not paid enough attention to the African continent. The continent’s populations and governments have found creative ways of dealing with the capitalist world market and political power relations since decolonization in the late 1950s. However, several forms of structural dependence and subordination persist. We ask in this article how the global process of financialization has unfolded across the continent and what it means for relations of dependence. We understand financialization as the global expansion of financial practices, and, in particular, the financial sector, that followed the end of the Bretton Woods era. We consider to what extent it has occurred at all in the four case study countries of Mauritius, Nigeria, Zambia, and South Africa. The empirical analysis of aggregate country data shows that financialization is, at best, an uneven and patchy process on the continent, not a general structural shift in the way capital accumulation is organized. Rather, where financialization occurred, it appears to have diversified the relations of dependence that states, corporations, and populations have found themselves in.

中文翻译：

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21世纪非洲的金融从属和金融不平衡

摘要

金融化辩论对非洲大陆的关注不足。自1950年代后期非殖民化以来，非洲大陆的人口和政府已经找到了应对资本主义世界市场和政治权力关系的创新方法。但是，仍然存在几种形式的结构依赖和从属关系。我们在本文中提出，全球金融化进程如何在整个非洲大陆展开，这对依赖关系意味着什么。我们将金融化理解为金融活动的全球扩张，尤其是布雷顿森林时代结束后的金融领域。我们考虑在毛里求斯，尼日利亚，赞比亚和南非这四个案例研究国家中发生这种情况的程度。对国家总数据的实证分析表明，金融充其量只是非洲大陆上一个不平衡和零散的过程，而不是资本积累方式的总体结构性转变。相反，在发生金融化的地方，它似乎使国家，公司和人口所处的依存关系多样化。