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Placing the run on Northern Rock

Lookup NU author(s): Professor Neill Marshall, Professor Andy Pike, Professor Jane Pollard, Professor John Tomaney, Dr Stuart Dawley, Professor Joanna Gray

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Abstract

The collapse of Northern Rock in 2007 was the first major run on a UK retail bank since 1866. The Northern Rock case is exemplary on two fronts. First, described at the time of its collapse as an example of an aggressive business model employed by naïve management, it is now clear that Northern Rock marked the beginning of and provides insights into the credit crunch and wider global banking crisis. Second, Northern Rock provides a distinct context - geographically and institutionally - from which to explore the banking crisis. The paper utilises management interviews, secondary literatures and an investigation of the wider impacts of the restructuring of Northern Rock to produce a reading from the perspective of a peripheral financial region. It contributes to attempts to understand financial geographies that range beyond the major international financial centres that often dominate debates in Economic Geography.


Publication metadata

Author(s): Marshall JN, Pike A, Pollard JS, Tomaney J, Dawley S, Gray J

Publication type: Article

Journal: Journal of Economic Geography

Year: 2012

Volume: 12

Issue: 1

Pages: 157-181

Print publication date: 20/01/2011

ISSN (print): 1468-2702

ISSN (electronic): 1468-2710

Publisher: Oxford University Press

URL: http://dx.doi.org/10.1093/jeg/lbq055

DOI: 10.1093/jeg/lbq055


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