Securitization and its footprint: the rise of the US securities industry centres 19982007
Author: Wjcik, Dariusz
Source: Journal of Economic Geography, Volume 11, Number 6, 3 November 2011 , pp. 925-947(23)
Publisher: Oxford University Press
Abstract:This article conceptualizes securitization from an economic geographic perspective, and documents dynamic but volatile growth of the securities industry and its distribution in the USA between 1998 and 2007. The industry has spread across states and metropolitan areas, within which it has enhanced its position in central districts, crowding out credit and insurance industry. Corporate headquarters have become more concentrated and their distribution has become more similar to the location of the securities industry centres. The results have implications for a revision of the global city theory, and corroborate research on the geography of stock markets and financialization.
Document Type: Research Article
Publication date: 2011-11-03
- The aims of the Journal of Economic Geography are to redefine and reinvigorate the intersection between economics and geography, and to provide a world-class journal in the field. The journal is steered by a distinguished team of Editors and an Editorial Board, drawn equally from the two disciplines. It publishes original academic research and discussion of the highest scholarly standard in the field of 'economic geography' broadly defined. Submitted papers are refereed, and are evaluated on the basis of their creativity, quality of scholarship, and contribution to advancing understanding of the geographic nature of economic systems and global economic change.