{"id":"https://openalex.org/W2048963418","doi":"https://doi.org/10.2753/pke0160-3477350201","title":"Securitization and financialization","display_name":"Securitization and financialization","publication_year":2012,"publication_date":"2012-01-01","ids":{"openalex":"https://openalex.org/W2048963418","doi":"https://doi.org/10.2753/pke0160-3477350201","mag":"2048963418"},"language":"en","primary_location":{"id":"doi:10.2753/pke0160-3477350201","doi":"https://doi.org/10.2753/pke0160-3477350201","is_oa":false,"landing_page_url":"https://doi.org/10.2753/pke0160-3477350201","pdf_url":null,"source":{"id":"https://openalex.org/S151404345","display_name":"Journal of Post Keynesian Economics","issn_l":"0160-3477","issn":["0160-3477","1557-7821"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Post Keynesian Economics","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5076777241","display_name":"Alicia Gir\u00f3n","orcid":"https://orcid.org/0000-0002-7513-3719","observed_orcids":["https://orcid.org/0000-0002-7513-3719","https://orcid.org/0009-0001-0217-1466"]},"institutions":[{"id":"https://openalex.org/I8961855","display_name":"Universidad Nacional Aut\u00f3noma de M\u00e9xico","ror":"https://ror.org/01tmp8f25","country_code":"MX","type":"education","lineage":["https://openalex.org/I8961855"]}],"countries":["MX"],"is_corresponding":false,"raw_author_name":"Alicia Gir\u00f3n","raw_affiliation_strings":["Economic Research Institute, National Autonomous University of Mexico, D.F"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Economic Research Institute, National Autonomous University of Mexico, D.F","institution_ids":["https://openalex.org/I8961855"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5083794448","display_name":"Alma Chapoy","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I8961855","display_name":"Universidad Nacional Aut\u00f3noma de M\u00e9xico","ror":"https://ror.org/01tmp8f25","country_code":"MX","type":"education","lineage":["https://openalex.org/I8961855"]}],"countries":["MX"],"is_corresponding":false,"raw_author_name":"Alma Chapoy","raw_affiliation_strings":["Economic Research Institute, National Autonomous University of Mexico, D.F"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Economic Research Institute, National Autonomous University of Mexico, D.F","institution_ids":["https://openalex.org/I8961855"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I8961855"],"apc_list":null,"apc_paid":null,"fwci":0.5055,"has_fulltext":false,"cited_by_count":18,"citation_normalized_percentile":{"value":0.75772421,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"35","issue":"2","first_page":"171","last_page":"186"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11817","display_name":"Housing, Finance, and Neoliberalism","score":0.8877000212669373,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11817","display_name":"Housing, Finance, and Neoliberalism","score":0.8877000212669373,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.0949999988079071,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14154","display_name":"finance, banking, and market dynamics","score":0.007899999618530273,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/securitization","display_name":"securitization","score":0.9940000176429749},{"id":"https://openalex.org/keywords/financialization","display_name":"financialization","score":1.0},{"id":"https://openalex.org/keywords/financial-crises","display_name":"financial crisis","score":0.796999990940094},{"id":"https://openalex.org/keywords/minsky","display_name":"Minsky","score":0.6710000038146973},{"id":"https://openalex.org/keywords/financial-instability-hypothesis","display_name":"financial instability hypothesis","score":0.9940000176429749},{"id":"https://openalex.org/keywords/derivatives","display_name":"derivatives","score":0.796999990940094},{"id":"https://openalex.org/keywords/mortgage","display_name":"mortgage lending","score":0.7269999980926514},{"id":"https://openalex.org/keywords/financial-intermediaries","display_name":"financial intermediaries","score":0.9860000014305115},{"id":"https://openalex.org/keywords/liquidity","display_name":"liquidity","score":0.753000020980835},{"id":"https://openalex.org/keywords/money-economy","display_name":"monetary economy","score":0.8320000171661377},{"id":"https://openalex.org/keywords/central-bank","display_name":"central bank","score":0.7599999904632568},{"id":"https://openalex.org/keywords/lender-of-last-resort","display_name":"lender of last resort","score":0.9010000228881836},{"id":"https://openalex.org/keywords/financial-institution-restructuring","display_name":"financial institution restructuring","score":0.36000001430511475}],"concepts":[{"id":"https://openalex.org/C2780619108","wikidata":"https://www.wikidata.org/wiki/Q852175","display_name":"Securitization","level":2,"score":0.9348539710044861},{"id":"https://openalex.org/C2780837152","wikidata":"https://www.wikidata.org/wiki/Q607865","display_name":"Financialization","level":2,"score":0.8856019973754883},{"id":"https://openalex.org/C45237549","wikidata":"https://www.wikidata.org/wiki/Q1376796","display_name":"Restructuring","level":2,"score":0.6640368700027466},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6480897068977356},{"id":"https://openalex.org/C65146658","wikidata":"https://www.wikidata.org/wiki/Q1416431","display_name":"Financial intermediary","level":2,"score":0.6369123458862305},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.5707206130027771},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.5399951338768005},{"id":"https://openalex.org/C139569457","wikidata":"https://www.wikidata.org/wiki/Q1666223","display_name":"Intermediary","level":2,"score":0.49982595443725586},{"id":"https://openalex.org/C2776736093","wikidata":"https://www.wikidata.org/wiki/Q13576850","display_name":"Money creation","level":4,"score":0.4708865284919739},{"id":"https://openalex.org/C183206440","wikidata":"https://www.wikidata.org/wiki/Q46834","display_name":"Balance sheet","level":2,"score":0.43771836161613464},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.43490633368492126},{"id":"https://openalex.org/C2777064627","wikidata":"https://www.wikidata.org/wiki/Q3151423","display_name":"Financial innovation","level":2,"score":0.4165616035461426},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3606886863708496},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3329910635948181},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.27933427691459656},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.14919644594192505},{"id":"https://openalex.org/C2992735868","wikidata":"https://www.wikidata.org/wiki/Q66344","display_name":"Central bank","level":3,"score":0.1424655318260193},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.11359214782714844}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.2753/pke0160-3477350201","doi":"https://doi.org/10.2753/pke0160-3477350201","is_oa":false,"landing_page_url":"https://doi.org/10.2753/pke0160-3477350201","pdf_url":null,"source":{"id":"https://openalex.org/S151404345","display_name":"Journal of Post Keynesian Economics","issn_l":"0160-3477","issn":["0160-3477","1557-7821"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Post Keynesian Economics","raw_type":"journal-article"},{"id":"pmh:oai:ru.iiec.unam.mx:2701","doi":null,"is_oa":false,"landing_page_url":"http://ru.iiec.unam.mx/2701/1/JPKE.Gir%C3%B3n%20y%20Chapoy.pdf","pdf_url":"http://ru.iiec.unam.mx/2701/1/JPKE.Gir%C3%B3n%20y%20Chapoy.pdf","source":{"id":"https://openalex.org/S4306402318","display_name":"Repositorio Universitario RU-Econ\u00f3micas (Universidad Nacional Aut\u00f3noma de M\u00e9xico)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8961855","host_organization_name":"Universidad Nacional Aut\u00f3noma de M\u00e9xico","host_organization_lineage":["https://openalex.org/I8961855"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"Art\u00edculo"},{"id":"pmh:oai:RePEc:mes:postke:v:35:y:2012:i:2:p:171-186","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.2753/PKE0160-3477350201","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":19,"referenced_works":["https://openalex.org/W59153574","https://openalex.org/W569563506","https://openalex.org/W1545761745","https://openalex.org/W1599518361","https://openalex.org/W1967501984","https://openalex.org/W2054115020","https://openalex.org/W2111217545","https://openalex.org/W2155870923","https://openalex.org/W2161280218","https://openalex.org/W2565396052","https://openalex.org/W2892387721","https://openalex.org/W2970521756","https://openalex.org/W3121555663","https://openalex.org/W3122733741","https://openalex.org/W3122889197","https://openalex.org/W3124216257","https://openalex.org/W3124685710","https://openalex.org/W4232456625","https://openalex.org/W4321270882"],"related_works":["https://openalex.org/W2502479839","https://openalex.org/W2754598530","https://openalex.org/W3135052458","https://openalex.org/W7135799449","https://openalex.org/W2277896767","https://openalex.org/W7135671164","https://openalex.org/W2745945924","https://openalex.org/W2177415304","https://openalex.org/W2911499436","https://openalex.org/W2342603468"],"abstract_inverted_index":{"Securitization":[0],"and":[1,104],"financialization":[2],"are":[3,31],"the":[4,8,23,50,72,83,107],"main":[5],"causes":[6],"of":[7,41,52,58,74,82,96],"financial":[9,18,62,108],"crisis.":[10],"These":[11],"two":[12],"concepts":[13],"explain":[14],"not":[15],"only":[16],"Minsky's":[17],"instability":[19],"hypothesis":[20],"but":[21],"also":[22],"off-balance-sheet":[24],"operations":[25],"represented":[26],"by":[27],"derivative":[28],"products,":[29],"which":[30],"closely":[32],"related":[33],"to":[34,71,92,102],"mortgage":[35],"loans.":[36],"Financial":[37],"intermediaries":[38],"in":[39,45,61],"need":[40],"liquidity":[42],"did":[43],"everything":[44],"their":[46],"power":[47],"so":[48],"that":[49,68],"securitization":[51],"assets":[53],"could":[54],"have":[55],"a":[56,66,80],"life":[57],"its":[59],"own":[60],"operations.":[63],"This":[64],"is":[65,69],"process":[67,78],"endogenous":[70],"development":[73],"financialization.":[75],"Because":[76],"said":[77],"was":[79,87],"violation":[81],"monetary":[84],"economy,":[85],"it":[86],"necessary":[88],"for":[89],"central":[90],"banks":[91],"intervene":[93],"as":[94,99,101],"\"lenders":[95],"last":[97],"resort\"":[98],"well":[100],"nationalize":[103],"restructure":[105],"all":[106],"intermediaries.":[109]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":3},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":1}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2016-06-24T00:00:00"}