000 02180nab a2200181 4500
003 OSt
005 20230910162903.0
007 cr aa aaaaa
008 230910b |||||||| |||| 00| 0 eng d
100 _aKeenan, Liam
_957728
245 _aGeographies of the institutional and industrial constraints on the financialization of German brewing/
260 _bSage,
_c2020.
300 _aVol. 52, Issue 8, 2020 ( 1662–1680 p.)
520 _aIn recent decades, financialization has reworked the ownership, organization and geographies of global brewing. However, the institutional constellations of national, regional and local markets continue to shape and mediate its processes in variegated ways. Presenting a more granular and spatially sensitive conceptualization of financialization, this article adopts a cultural political economy (CPE) framework to analyse its relationships with the German brewing industry. First, the article distils the key elements of firm-level financialization and identifies a range of core constituents which provide the foundations for observing how financialization is enacted as part of wider institutional and political economic contexts. Second, the paper explains how these core constituents unfold as part of the global brewing industry, where the growing importance of mergers and acquisitions (M&As), the cultivation of global brands and the strategic prioritization of value over volume have reconstituted mature beer markets. Analysis then turns to the brewing industry and market in Germany, where regional patterns of production, a localized culture of consumption and various forms of state intervention are shown to constrain the enactment of financialization. Building on this empirical evidence, it is argued that geographically particular social relations, cultural conditions and political economic structures intertwine to shape and mediate processes of financialization, in different ways, with geography both causal and constitutive in its uneven expression.
773 0 _08877
_917103
_dLondon Pion Ltd. 2010
_tEnvironment and planning A
_x1472-3409
856 _uhttps://doi.org/10.1177/0308518X20917414
942 _2ddc
_cEJR
999 _c14588
_d14588