A Bibliometric Analysis on Financialization: Current Status and Future Directions

Abstract

With growing interest in integrating financial markets and financial instruments worldwide, financialization has attracted the attention of researchers in recent literature. Moreover, with repeated periods of financial crises such as the global financial crisis, COVID-19 and the Ukraine-Russia war that changed the dynamics of the supply chain around the world, the relevance of this phenomenon is growing substantially. However, to date, no bibliographic publication has identified the evolution and direction of the study on this phenomenon. Therefore, this study provides a bibliometric analysis of the literature available in the SCOPUS database. This study outlines the literature on financialization and suggests areas for future research. Data selection was performed following the Preferred Reporting Items for Systematic Reviews process. Bibliometric analysis was conducted using VOS viewer software, which allows for scientific analysis based on citation and co-occurrence. Citation analysis was conducted based on the authors, countries, journals and documents with the most citations. Bibliographic mapping was also employed during the co-occurrence analysis to determine the current research themes. It is observed that financialization gains importance during and after a financial crisis. Furthermore, most studies have been conducted in developed economies. However, at present, the focus has shifted to developing economies. Moreover, the theme analysis indicates that the current research focus is on energy and agricultural commodity derivatives. To the best of our knowledge, this is the first attempt to present a bibliometric analysis of the literature on financialization.

Keywords: Bibliometric Analysis, Financialization, Financial Crisis, VOS Viewer, Style Investing, Risk Spillover

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