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Place Your Bets: Towards an Understanding of Globalisation, Socio-financial Engineering and Competition within a Financial Centre

Author

Listed:
  • Michael Pryke

    (Faculty of Social Sciences, The Open University, Walton Hall, Milton Keynes MK7 6AA, UK)

  • Roger Lee

    (Department of Geography, Queen Mary and Westfield College, London, Mile End Road, London E1 4NS, UK)

Abstract

Globalisation and technical change increase the intensity of competition within and between financial centres already subject to competitive pressures from an apparently highly mobile financial capital. However, financial production is shaped by its complex, socially constructed cultural geography through which the variety of its markets take place and its profits are defined and made. The production of mortgage-backed securities within the City of London illustrates the argument.

Suggested Citation

  • Michael Pryke & Roger Lee, 1995. "Place Your Bets: Towards an Understanding of Globalisation, Socio-financial Engineering and Competition within a Financial Centre," Urban Studies, Urban Studies Journal Limited, vol. 32(2), pages 329-344, March.
    • Handle: RePEc:sae:urbstu:v:32:y:1995:i:2:p:329-344
    DOI: 10.1080/00420989550013112
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    References listed on IDEAS

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    1. Vittorio Grilli, 1989. "Financial Markets and 1992," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(2), pages 301-324.
    2. M Pryke, 1994. "Looking Back on the Space of a Boom: (Re)developing Spatial Matrices in the City of London," Environment and Planning A, , vol. 26(2), pages 235-264, February.
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    Cited by:

    1. Thomas Wainwright, 2009. "Laying the Foundations for a Crisis: Mapping the Historico‐Geographical Construction of Residential Mortgage Backed Securitization in the UK," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 372-388, June.
    2. Manuel B. Aalbers, 2009. "The Sociology and Geography of Mortgage Markets: Reflections on the Financial Crisis," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 281-290, June.
    3. Peter Wood & Dariusz Wójcik, 2010. "A Dominant Node of Service Innovation: London’s Financial, Professional and Consultancy Services," Chapters, in: Faïz Gallouj & Faridah Djellal (ed.), The Handbook of Innovation and Services, chapter 25, Edward Elgar Publishing.

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