Abstract

HERNANDEZ, Javier. Social construction of the economy in financial services organizations in Chile and the UK. Revista Economía y Política [online]. 2021, n.33, pp.104-117.  Epub 15, 2021. ISSN 2477-9075.  https://doi.org/https://doi.org/10.25097/rep.n33.2021.06.

This article examines the social construction of financial services organizations in two different social settings such as Chile and the UK, remarking how economic agents act within broader social structures, institutions and cultural environments.

A qualitative design based mainly on semistructured in-depth interviews was applied in Santiago de Chile, London and Edinburgh with a broad sample of financial services professionals.

The results show contrasting organizational procedures and working routines in Chile and the UK, explained largely by social distribution of resources and their positions within the global financial system. While in Chile organizations use exclusive channels to recruit members of the local economic elite, in the UK firms perform scientific-minded procedures aimed targeting a broad population of candidates.

Keywords : Embeddedness; Financial Services; Institutions; social and political construction of the economy; organizational processes.

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