Issue 2026-W40 · 28 Sep – 4 Oct 2026
This week in insubordinate finance
This week's digest gathers research on financial devices, regulatory architectures, and institutional change across Southern financial centres and their North–South linkages. The Geoforum study of Caribbean central bank digital currencies and the work on West African monetary union sequencing examine how digital and monetary sovereignty interact with inherited colonial financial structures. Research on Brazilian debt management, Chinese capital-market reform, and regulatory innovation at India's SEBI illustrates how specific devices—from securitization to disclosure rules—reshape state capacity and market integration. We also note studies on intermediary innovation at the Nairobi and Ho Chi Minh exchanges, exchange-rate exposure in Brazilian agribusiness, and fintech-banking partnerships that reveal how Southern financial centres navigate North–South capital flows and South–South integration simultaneously.
- New research
- 41
- News
- 6
- Reports & grey literature
- 2
- From the archive
- 1
New research 41
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Institutional Changes in Capital Markets and the Efficiency of Resource Allocation Amid the Reshaping of the Global Financial Landscape: A Comparative Analysis of the Chinese and US Markets
Comparative institutional analysis of Chinese and US capital markets; registration reform, investor protection, market connectivity; addresses resource-allocation efficiency and institutional change.
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The geographies of digital public monetary exclusion: examining the territorialising effects of central bank digital currencies in the Caribbean
CBDCs (Sand Dollar, DCash) in Caribbean; financial exclusion through digital monetary sovereignty; directly addresses digital devices and Southern financial autonomy.
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From the CFA Franc to the ECO: Endogenous Monetary Geography and the Sequencing of a West African Monetary Union
CFA franc to ECO monetary union sequencing directly engages colonial financial subordination and regional monetary geography.
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The quiet side of financialization: The infrastructural power of finance and sovereign debt management in Brazil
Financialization of Brazilian public debt management and state-market relations; directly addresses São Paulo financial centre.
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Du franc CFA à l’ECO : géographie monétaire endogène et séquençage d’une union monétaire ouest-africaine
Endogenous monetary geography and West African monetary union; colonial-era CFA franc subordination and policy sequencing.
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BRICS AND THE TRANSFORMATION OF THE GLOBAL POLITICAL ECONOMY: AN ADVANCED IMPACT ASSESSMENT OF ECONOMIC DE-WESTERNISATION, FINANCIAL DE-DOLLARISATION, GEOPOLITICAL FRAGMENTATION, BEHAVIOURAL RESPONSES AND GLOBAL SOUTH ECONOMIC EMPOWERMENT
BRICS de-dollarization, de-Westernization, local-currency settlements, alternative financial institutions; directly addresses North–South subordination and South–South networks.
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"Liberation Day' and the Roots of Dollar Dominance
Dollar dominance and historical roots; directly addresses currency hierarchy and financial subordination.
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Historical Reflections on Interest Rates and the Emergence of the Yield Curve
Historical foundations of yield curve as financial device; relevant to understanding valuation infrastructure.
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Theory and explanation in financial geographies: Engaging with economics strategically
Methodological framework for financial geographies engaging with economics and finance practitioners.
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Basel III Capital Requirements and the Growth of Non‐Bank Financial Institutions in South Africa
Basel III and fintech growth in South Africa; regulatory arbitrage and alternative financial institutions.
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New Directions in the Arms Trade
South–South arms trade and petrodollar financialization; engages North–South and South–South financial hierarchies.
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Leveraging Digital Financial Technologies for Sustainable Rural Entrepreneurship in India: An Analytical Study Using Secondary Data
UPI, AEPS, FinTech in rural India; digital financial infrastructure reshaping access and potentially subordination dynamics.
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Dividend signals, market imperfections and speculative bubble dynamics in an emerging market: Empirical evidence from the Moroccan stock market
Speculative dynamics and dividend signalling on Casablanca Stock Exchange; specific device governing market behaviour.
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THE UNINTENDED CONSEQUENCES OF FINANCIAL ACTION TASK FORCE (FATF) INTERNATIONAL STANDARDS IN NIGERIA
FATF standards, AML/CFT compliance, and unintended consequences in Nigeria; regulatory device politics and sovereignty.
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Dynamic relationship between interest rate, exchange rate and stock price returns: The case of Vietnam
Interest rate, exchange rate, and stock returns in Vietnam; monetary policy interactions and currency subordination.
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Effect of Product Innovation by Capital Market Intermediaries On Retail Investor Participation in The Nairobi Securities Exchange
Product innovation by NSE intermediaries and retail participation decline reveals infrastructure gaps in Southern financial centre.
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Macroeconomic indicators and the Johannesburg Stock Exchange Financial 15 Index nexus in South Africa
JSE Financial 15 index macroeconomic linkages illustrates Johannesburg exchange integration and pricing mechanisms.
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Fintech Partnerships and Perceived Financial Performance of Commercial Banks Listed on the Nairobi Securities Exchange in Kenya
Fintech partnerships reshape NSE-listed bank performance; explores intermediary innovation and financial-centre integration.
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Sovereign Grassroots Currencies: A CBDC Architecture for Credit and Monetary Policy (Full Version)
CBDC architecture and monetary policy innovation; relevant to digital financial devices and sovereign monetary control.
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Circumscribed disruption: FinTech narratives in central banking
Central bank discourse on fintech regulation; relevant to regulatory innovation and digital finance governance.
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Rethinking Credit Ratings for Africa: A Context-Integrated Conceptual Model for the Insurance Sector under the African Continental Free Trade Area
Credit ratings for African insurance under AFCTA; challenges Northern rating methodologies in Southern context.
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BRICS+ smart mobility governance: digital sovereignty and infrastructure financing for urban transport innovation in the Global South
South–South governance and digital sovereignty in BRICS+ urban mobility; frames emerging-economy coordination on infrastructure.
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Withholding-while-Giving: Safaricom, the State and Parastatal Cohabitation
Safaricom parastatal cohabitation and M-PESA mobile money governance reveals institutional hybridity in Nairobi financial ecosystem.
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Facing Goliath with the ESG-slingshot: a financial tale of sustainable investing
ESG imaginary and asset-manager capitalism; addresses financialization and de-risking state relevant to subordination dynamics.
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Inflation, currency depreciation, and the sovereign-bank nexus: a quantile panel analysis of banking fragility across eight African economies
Currency depreciation and sovereign-bank nexus across African economies including Mauritius case study demonstrates subordination mechanisms.
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The asymmetric impact of foreign equity investment on the financial growth of Nairobi Stock Exchange [NSE]-listed firms. A Non-Linear Autoregressive Distributed Lag (NARDL) approach
Foreign equity investment asymmetries and capital flight patterns reveal North-South financial subordination at NSE.
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The identification of systemically important financial institutions from the aspect of “Too Connected to Fail”
Systemically important financial institutions in China; fintech and digital payment channels; relevant to South–South financial architecture.
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The Scaling of Social Innovations in Africa and Beyond
M-PESA Kenyan innovation and international network scaling reveals South-based financial device diffusion patterns.
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Systemic shocks and firm-level stock performance: evidence from Vietnam
COVID shock impact on Ho Chi Minh Stock Exchange firm performance; illustrates emerging market vulnerability and ownership dynamics.
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Energy Sustainability of Cryptocurrencies in Africa: The PoW - PoS Dilemma
Blockchain energy costs and monetary stability in West Africa; contextual for digital financial infrastructure in BCEAO zone.
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International Capital Mobility: A Study of BRICS Countries
Capital mobility in BRICS 1994–2018; directly addresses South–South financial integration and North–South linkage patterns.
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Foreign Ownership, Digital Transformation, and Monetary Policy as Drivers of Vietcombank Stock Valuation: ARDL Evidence from 2015-2026
Foreign ownership and digital transformation driving Vietnamese bank valuation; North-South linkage in pricing mechanisms.
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RIDING THE DOLLAR TIDE: RISK-MANAGEMENT STRATEGIES AND FINANCIAL PERFORMANCE OF BRAZILIAN AGRIBUSINESS EXPORTERS AMID EXCHANGE-RATE VOLATILITY
Exchange-rate volatility and BRL/USD exposure in Brazilian exporters; currency hierarchy and financial vulnerability.
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Fintech on campus: mobile money and student entrepreneurship in Ghana
Mobile money and fintech use by entrepreneurs in Ghana; user practices and digital financial infrastructure adoption.
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TRENDS IN THE DIGITALIZATION OF IPO PROCESSES AND INCREASING RETAIL INVESTOR ACTIVITY IN EMERGING CAPITAL MARKETS
IPO digitization and retail investor access in emerging markets; market-access device and inclusion politics.
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Reassessing SEBI Regulations: Balancing Investor Protection, Market Integrity, and Regulatory Innovation in India's Securities Market
SEBI regulation of Indian securities market examines device innovation and investor protection in major Southern financial centre.
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Reassessing SEBI Regulations: Balancing Investor Protection, Market Integrity, and Regulatory Innovation in India's Securities Market
SEBI regulation of Indian securities market examines device innovation and investor protection in major Southern financial centre.
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DIGITAL RETAIL INVESTOR PARTICIPATION IN SOVEREIGN IPOS: CATALYSTS AND REGULATORY CHALLENGES
Digital retail investor access, fintech, and e-KYC in sovereign IPOs; market-access device and regulatory challenges.
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Does financialization threaten productive development?
Financialization harms economic complexity in Latin America; directly engages subordination thesis.
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Platform Economies in the Global South and the Convergence of Informal Markets with Digital Infrastructure
Digital platform governance in informal economies peripherally touches São Paulo but lacks financial-centre institutional focus.
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Sharing Fraud Intelligence Across Institutions: A Consortium Blockchain Framework for Banks and Mobile Money Providers in Kenya
Blockchain fraud intelligence sharing; technical infrastructure rather than financial-centre dynamics or device politics.
No items match these filters.
News 6
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Astana International Financial Centre explores to partner with India GIFT City
Cross-border financial centre partnership between Central Asian and Indian GIFT hubs; South–South integration device.
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Bilionário nigeriano Aliko Dangote e Quênia iniciam obras de refinaria de US$ 16 bilhões
Nigerian billionaire's transnational oil-refinery investment in Kenya; South–South capital flows and regional integration.
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FIDC de R$ 150 mi impulsiona Pix Consignado da UNI FY
Fintech FIDC securitization device for payroll-deducted lending; digital payment infrastructure (Pix) deepening financial market integration.
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Can Senegal escape a Ghana-style banking crisis?
CFA franc debt vulnerability in West Africa; colonial currency's role in financial subordination and crisis transmission.
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RBI drains $20 billion liquidity via FX operations: What it means for rupee, rates
RBI liquidity management via FX swaps; regulatory tool for controlling financial market behavior and currency stability.
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Thai billionaire Charoen Sirivadhanabhakdi's firm eyes $1B listing for real estate investment trust
REIT IPO targeting major capital raise; financial device (REIT) reshaping Bangkok's integration and institutional investor base.
No items match these filters.
Reports & grey literature 2
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African Development Bank President Secures €270 Million Financing Agreement to Expand Morocco’s Airport Infrastructure
African Development Bank financing Morocco airport infrastructure; DFI-led infrastructure finance shaping Casablanca's regional role.
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African Development Fund’s Climate Action Window advances East and Southern Africa projects toward financing
African Development Fund climate financing for East Africa; development finance instrument with limited centre-specific relevance.
No items match these filters.
From the archive 1
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The Sovereign-Bank Diabolic Loop and ESBies
Sovereign-bank diabolic loop and ESBies securitization; academic scholarship on debt devices and currency-zone financial architecture.
No items match these filters.