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The global financial customer and the spatiality of exclusion after the 'end of geography'

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  • Gary A. Dymski

Abstract

This paper evaluates O'Brien's assertion that freer global financial flows and movement will eliminate the significance of geography for financial processes because enhanced global choice will create the global financial customer. We argue here, contra O'Brien, that expanded global choice in finance has contributed to the widening global income/wealth divide, both in the global North and the global South. Financial globalization has not made geography immaterial: instead, spatial location, informed by each area's historical and institutional background, continues to demarcate who has access to which financial services at what price. The US subprime crisis demonstrates dramatically that vulnerability to economically devastating financial crises varies dramatically across space at the national and sub-national levels. Copyright 2009, Oxford University Press.

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  • Gary A. Dymski, 2009. "The global financial customer and the spatiality of exclusion after the 'end of geography'," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 2(2), pages 267-285.
    • Handle: RePEc:oup:cjrecs:v:2:y:2009:i:2:p:267-285
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    File URL: http://hdl.handle.net/10.1093/cjres/rsp011
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    Cited by:

    1. Luke Petach, 2020. "Local financialization, household debt, and the great recession," Papers in Regional Science, Wiley Blackwell, vol. 99(3), pages 807-839, June.
    2. Russell Kashian & Robert Drago, 2017. "Minority-Owned Banks and Bank Failures After the Financial Collapse," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 46(1), pages 5-36, February.
    3. Elif Karacimen, 2016. "Consumer Credit as an Aspect of Everyday Life of Workers in Developing Countries," Review of Radical Political Economics, Union for Radical Political Economics, vol. 48(2), pages 252-268, May.
    4. Ndlovu, Godfrey & Toerien, Francois, 2020. "The distributional impact of access to finance on poverty: evidence from selected countries in Sub-Saharan Africa," Research in International Business and Finance, Elsevier, vol. 52(C).
    5. Neil Lee & Davide Luca, 2019. "The big-city bias in access to finance: evidence from firm perceptions in almost 100 countries," Journal of Economic Geography, Oxford University Press, vol. 19(1), pages 199-224.
    6. Dymski Gary & Gavris Maria & Huaccha Gissell, 2023. "Viewing the impact of Brexit on Britain’s financial centre through an historical lens: Can there be a third reinvention of the City of London?," ZFW – Advances in Economic Geography, De Gruyter, vol. 67(2), pages 76-91, August.
    7. Gary Dymski, 2009. "Financing Community Development in the US: A Comparison of “War on Poverty” and 1990s-Era Policy Approaches," The Review of Black Political Economy, Springer;National Economic Association, vol. 36(3), pages 245-273, December.
    8. Haitao Ma & Chuanglin Fang & Bo Pang & Guangdong Li, 2014. "The Effect of Geographical Proximity on Scientific Cooperation among Chinese Cities from 1990 to 2010," PLOS ONE, Public Library of Science, vol. 9(11), pages 1-11, November.

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