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Continuity and Evolution in an Old Industrial Region: The Labour Market Dynamics of the Rise and Fall of Northern Rock

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  • Stuart Dawley
  • Neill Marshall
  • Andy Pike
  • Jane Pollard
  • John Tomaney

Abstract

Dawley S., Marshall N., Pike A., Pollard J. and Tomaney J. Continuity and evolution in an old industrial region: the labour market dynamics of the rise and fall of Northern Rock, Regional Studies . The Northern Rock mortgage bank was a high-profile casualty of the credit crunch in 2007. An evolutionary geographical political economy approach demonstrates that Northern Rock's growth and decline was shaped by its location in an old industrial region, and echoes the historical position of the peripheral region in the spatial division of labour. A longitudinal investigation focuses on the labour market dynamics of Northern Rock's rapid growth and decline on the North East of England. The Northern Rock case highlights the enduring occupational structure of the region's labour market, and shows how older industrial regions suffer from a process of 'occupational disadvantage' that restricts their ability to adapt to economic change.

Suggested Citation

  • Stuart Dawley & Neill Marshall & Andy Pike & Jane Pollard & John Tomaney, 2014. "Continuity and Evolution in an Old Industrial Region: The Labour Market Dynamics of the Rise and Fall of Northern Rock," Regional Studies, Taylor & Francis Journals, vol. 48(1), pages 154-172, January.
    • Handle: RePEc:taf:regstd:v:48:y:2014:i:1:p:154-172
    DOI: 10.1080/00343404.2012.669473
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    References listed on IDEAS

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    1. Ron Martin, 2012. "Regional economic resilience, hysteresis and recessionary shocks," Journal of Economic Geography, Oxford University Press, vol. 12(1), pages 1-32, January.
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    2. Dieter F Kogler & Emil Evenhuis & Elisa Giuliani & Ron Martin & Elvira Uyarra & Ron Boschma, 2023. "Re-imagining evolutionary economic geography," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 16(3), pages 373-390.
    3. Emelie Hane-Weijman & Rikard H. Eriksson & Martin Henning, 2018. "Returning to work: regional determinants of re-employment after major redundancies," Regional Studies, Taylor & Francis Journals, vol. 52(6), pages 768-780, June.
    4. Neil Lee & Paul Sissons & Katy Jones, 2016. "The Geography of Wage Inequality in British Cities," Regional Studies, Taylor & Francis Journals, vol. 50(10), pages 1714-1727, October.
    5. Vassilis Monastiriotis & Ian R Gordon & Ioannis Laliotis, 2021. "Uneven geographies of economic recovery and the stickiness of individual displacement," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 14(1), pages 157-178.
    6. Margarian, Anne, 2024. "Analysing evolutionary growth regimes of regional economies and transformative shocks: Proposal for a regression-based counterfactual simulation approach to local inter-industry structural change," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 18-32.
    7. Sensier, Marianne & Devine, Fiona, 2020. "Understanding Regional Economic Performance And Resilience In The Uk: Trends Since The Global Financial Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 253, pages 18-28, August.
    8. Anne Otto & Rikard Eriksson & Martin Henning, 2015. "Industrial and geographical mobility of workers exiting the Swedish and West German shipbuilding industry 1970-2000," ERSA conference papers ersa15p958, European Regional Science Association.
    9. Neill Marshall & Stuart Dawley & Andy Pike & Jane Pollard & Mike Coombes, 2019. "An evolutionary perspective on the British banking crisis," Journal of Economic Geography, Oxford University Press, vol. 19(5), pages 1143-1167.
    10. David Bailey & Lisa de Propris, 2014. "Editorial: Recession, Recovery and Resilience?," Regional Studies, Taylor & Francis Journals, vol. 48(11), pages 1757-1760, November.
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    13. Neill Marshall & Stuart Dawley & Andy Pike & Jane Pollard, 2018. "Geographies of corporate philanthropy: The Northern Rock Foundation," Environment and Planning A, , vol. 50(2), pages 266-287, March.
    14. Marianne Sensier & Fiona Devine, 2020. "Levelling up Regional Resilience Following the Coronavirus Pandemic," Economics Discussion Paper Series 2008, Economics, The University of Manchester.

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