GEOFIN Working Paper No. 3

Mikuš, M. (2019) Financialization of the state in postsocialist East-Central Europe: conceptualization and operationalization. GEOFIN Working Paper No. 3. Dublin: GEOFIN research, Trinity College Dublin.


This working paper presents a conceptual framework for GEOFIN’s analysis of the financialization of the state in eleven European Union member states in postsocialist East-Central Europe (ECE-11) and operationalizes it for the purposes of analysis of internationally comparable secondary quantitative data. The first half of the paper develops a systemic, processual and spatial approach to the financialization of states. The second half of the paper identifies key dimensions of state financialization processes, their forms that scholarship discussed as prevalent in East-Central Europe and/or (semi-) peripheries, and their potential indicators in secondary quantitative data. The following dimensions of state financialization are covered: monetary and fiscal policies (including sovereign debt); public-service provision; lawmaking and regulation; and investment policy.

Keywords: core-periphery relations; East-Central Europe; financialization; the state.