Pathway to instability? The politics of transforming capital markets in China
Johannes Petry is a political economist trained in Political Science and Economics (Frankfurt), International Political Economy (Warwick) and Comparative Public Policy (Konstanz). During his studies he specialised on the comparative and interdisciplinary analysis of financial markets, systems and crises as well as the political economy of emerging markets.
Between his studies and starting his PhD, he decided to work in finance for two years to obtain more practical knowledge about his research subject, mainly working as an analyst on Asian and European capital markets. Applying these practical insights into his research, he analyses the transformation of capital markets in China and its emerging financial network with Hong Kong, Singapore, Frankfurt and London. Taking an institutionalist approach to the organisation of capital markets, he focuses on the interplay of financial infrastructures, investors and products in capital markets in China, how these changed over time as well as their increasing international connections, thereby emphasising the role exchanges play in this process.
Exchanges organise capital markets. But while there is a plethora of research on capital markets, exchanges are very seldomly taken serious as actors in their own right. The terms stock exchange and stock market are often used interchangeable, usually referring to the later. I argue, however, that exchanges exercise significant influence over the overall organisation and development of capital markets and that they have transformed fundamentally in the last few decades, internationalising, changing their governance and business models and venturing into new markets.
From May to July 2017, Johannes was a ESRC International Partnership Visiting Fellow at the Department of Asian and International Studies at The City University of Hong Kong. Since November 2017, he is a Visiting Researcher at the Institute for Political Science at the Goethe University Frankfurt.
Johannes is also one of the founders and organisers of the Warwick Critical Finance Group.
International Political Economy | China | Capital Market Development | Exchanges | Financialisation |
Financial Geography | Comparative Political Economy | International Financial Centres | East Asia |
Interdisciplinary Analysis | Critical Theory | Methodological Pluralism
Upcoming & recent presentations
Petry, J. (2018) "Exchanges, states and markets in the internationalisation of China’s capital markets", 43rd British International Studies Association (BISA) Conference, 13-15 June 2018, Bath.
Petry, J. (2017) “Who creates Chinese capital markets? The political economy of China’s emerging global financial network”, FinGeo Research Seminar/Conference on Global Production, 6-8 December 2017, Singapore.
Petry, J. (2017) “From national markets to global market infrastructure providers: exchanges, their transformation & how they shape capital markets”, Warwick Critical Finance Early Career Researcher Workshop, 25-26 September 2017, Coventry, UK.
Petry, J. (2017) “The political economy of the transformation of exchanges”, 8th International Initiative for Promoting Political Economy (IIPPE) Conference, 13-15 September 2017, Berlin, Germany.
Petry, J. (2017) “The transformation of capital markets in China”, IPE PhD Colloquium Goethe University, 27 April 2017, Frankfurt, Germany.
Petry, J. (2017) “Pathways to instability. The political economy of the transformation of exchanges in East Asia”,
East Asia Study Group Workshop, 22 February 2017, Coventry, UK.
Petry, J. (2017) “Why does fieldwork matter? Some reflections on immersion, the everyday and knowledge creation from researching financial markets in Hong Kong”, Social Science Works, 10 November 2017.
Petry, J. (2016) “Intellectual monocultures, black swans & the failure of economics: lessons from the global financial crisis and austerity”, Social Science Works, 7 November 2016.
Petry, J. (2016) “The ECB’s corporate bond purchase programme: More distortions”, Deutsche Bank Research, 14 June 2016 (with O. Kaya).
Deutsche Börse (2015) Corporate Report 2014 (co-editor and co-author, English and German versions).
Deutsche Börse (2015) Deutsche Börse Group: From trading floor to electronic trading marketplace. June 2015 (co-editor and co-author, English and German versions).
Petry, J. (2014) “Bailing out global finance: the origins and consequences of ‘too big to fail’”, Pinpoint Politics, 4 February 2014.
Petry, J. (2013) “Constructing the Eurozone crisis: a tale of PIIGS, debt, and austerity”, Pinpoint Politics,
8 December 2013.