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The American spirit: The performativity of folk economics in global financial markets

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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The American spirit: The performativity of folk economics in global financial markets. / Tarim, Emre; Gozluklu, Arie; Muradoglu, Gulnur.
In: Environment and Planning A, Vol. 55, No. 8, 30.11.2023, p. 1906-1927.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Tarim, E, Gozluklu, A & Muradoglu, G 2023, 'The American spirit: The performativity of folk economics in global financial markets', Environment and Planning A, vol. 55, no. 8, pp. 1906-1927. https://doi.org/10.1177/0308518x231169738

APA

Tarim, E., Gozluklu, A., & Muradoglu, G. (2023). The American spirit: The performativity of folk economics in global financial markets. Environment and Planning A, 55(8), 1906-1927. https://doi.org/10.1177/0308518x231169738

Vancouver

Tarim E, Gozluklu A, Muradoglu G. The American spirit: The performativity of folk economics in global financial markets. Environment and Planning A. 2023 Nov 30;55(8):1906-1927. Epub 2023 Apr 18. doi: 10.1177/0308518x231169738

Author

Tarim, Emre ; Gozluklu, Arie ; Muradoglu, Gulnur. / The American spirit : The performativity of folk economics in global financial markets. In: Environment and Planning A. 2023 ; Vol. 55, No. 8. pp. 1906-1927.

Bibtex

@article{1ff035a25f81485893269aafab12e6d8,
title = "The American spirit: The performativity of folk economics in global financial markets",
abstract = "Inspired by Austin's conceptualisation of utterances as performative, that is, they do things rather than merely represent, research has shown how scientific theories can become performative in financial markets. Research also shows that brokerage and investment work is as much about using everyday knowledge of markets as it is about performing scientific theories. We investigate whether and how this knowledge or what Swedberg calls {\textquoteleft}folk economics{\textquoteright} can also be performative. We focus on Borsa Istanbul, an emerging market where market actors perform what we call {\textquoteleft}the American Spirit{\textquoteright} – a ubiquitous folk theory that frames and plots the Turkish market as one that moves in tandem with American and other developed markets – and in the process become better market forecasters. Our findings have implications for the study of folk economics and performativity in global economy and finance.",
keywords = "Folk economics, finance, folk theories, globalization, narrative economics, performativity",
author = "Emre Tarim and Arie Gozluklu and Gulnur Muradoglu",
year = "2023",
month = nov,
day = "30",
doi = "10.1177/0308518x231169738",
language = "English",
volume = "55",
pages = "1906--1927",
journal = "Environment and Planning A",
issn = "0308-518X",
publisher = "SAGE PUBLICATIONS INC",
number = "8",

}

RIS

TY - JOUR

T1 - The American spirit

T2 - The performativity of folk economics in global financial markets

AU - Tarim, Emre

AU - Gozluklu, Arie

AU - Muradoglu, Gulnur

PY - 2023/11/30

Y1 - 2023/11/30

N2 - Inspired by Austin's conceptualisation of utterances as performative, that is, they do things rather than merely represent, research has shown how scientific theories can become performative in financial markets. Research also shows that brokerage and investment work is as much about using everyday knowledge of markets as it is about performing scientific theories. We investigate whether and how this knowledge or what Swedberg calls ‘folk economics’ can also be performative. We focus on Borsa Istanbul, an emerging market where market actors perform what we call ‘the American Spirit’ – a ubiquitous folk theory that frames and plots the Turkish market as one that moves in tandem with American and other developed markets – and in the process become better market forecasters. Our findings have implications for the study of folk economics and performativity in global economy and finance.

AB - Inspired by Austin's conceptualisation of utterances as performative, that is, they do things rather than merely represent, research has shown how scientific theories can become performative in financial markets. Research also shows that brokerage and investment work is as much about using everyday knowledge of markets as it is about performing scientific theories. We investigate whether and how this knowledge or what Swedberg calls ‘folk economics’ can also be performative. We focus on Borsa Istanbul, an emerging market where market actors perform what we call ‘the American Spirit’ – a ubiquitous folk theory that frames and plots the Turkish market as one that moves in tandem with American and other developed markets – and in the process become better market forecasters. Our findings have implications for the study of folk economics and performativity in global economy and finance.

KW - Folk economics

KW - finance

KW - folk theories

KW - globalization

KW - narrative economics

KW - performativity

U2 - 10.1177/0308518x231169738

DO - 10.1177/0308518x231169738

M3 - Journal article

VL - 55

SP - 1906

EP - 1927

JO - Environment and Planning A

JF - Environment and Planning A

SN - 0308-518X

IS - 8

ER -