Financialisation and investment dynamics of large companies in Argentina during the period of Kirchner governments

Abstract

In the current phase of globalization, a financialisation process of productive capital becomes evident. the purpose of this article is to analyse whether this process occured during the period of the Kirchner government in argentina. (2003-2015). Therefore a descriptive analysis of variables such as the degree of economic concentration and the destination of the surplus of large firms is implemented. The unit of analysis are large non-financial companies of the argentine economy. It is concluded that, even though the traditional mechanism of a “financial evaluation”wasn’t operating, financialisation of the large argentine firms manifested through the relative dissociation observed between the rate of return and the investment rate. This analytical perspective is relevant to the return of “neo-developmentalist” issues after a new failure of neoliberalism in the country.