Experts versus representatives? Financialised valuation and institutional change in financial governance
نویسندگان
چکیده
Valuation devices and institutional change are key aspects of financialisation, but have been largely separated in the literature. This article explores causal link between both concepts. We draw on linked ecologies framework to argue that financialised valuation, such as market valuation assets liabilities, creates opportunities for financial experts influence policy processes. Making use their position, frame problems advance further financialisation a solution. So doing, they perform essential boundary work tie authority over knowledge social position actors. The result is process endogenous change, whereby increasingly displace other actors governance arrangements. illustrate this argument providing case study pension fund Netherlands. There, requirements led crisis funding, which policymakers responded by strengthening experts’ positions boards, thereby eroding century-old corporatist institutions. show how infrastructural entanglements markets state Dutch system not only benefited actors’ positions, also point limits agency increased its own capacity formerly domain.
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ژورنال
عنوان ژورنال: New Political Economy
سال: 2022
ISSN: ['1469-9923', '1356-3467']
DOI: https://doi.org/10.1080/13563467.2022.2045927