Financialisation and the financial and economic crisis - the case of South Africa

The Nature and Form of Financialisation in South Africa is conditioned by industrial and financial developments before 1994. This is an edited abridgement from a paper produced by the Financialisation, Economy, Society and Sustainable Development (FESSUD) project, an extensive EUfunded research programme.Over the past three decades studies on financialisation have rightly focused on the emergence of the financial sector as the new economic vortex in advanced industrial societies. Like a veritable centre of gravity, it has sucked capital investment from other sectors and re-calibrated their orbits to the point that some resemble dying stars