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Lookup NU author(s): Professor Stuart Dawley, Professor Neill Marshall, Professor Andy Pike, Professor Jane Pollard, Professor John Tomaney
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The Northern Rock mortgage bank was a high profile casualty of the credit crunch in 2007. A longitudinal investigation focused on the redundancy and resettlement of employees at the bank provides a case study of the labour market impact of the banking crisis on the North East of England. An evolutionary geographical political economy approach indicates 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. The Northern Rock case highlights the enduring occupational structure of the region’s labour market, and suggests older industrial regions may suffer from a process of ‘occupational disadvantage’ that restricts their ability to adapt to economic change.
Author(s): Dawley S, Marshall JN, Pike A, Pollard J, Tomaney J
Series Editor(s): Utrecht University
Publication type: Report
Publication status: Published
Series Title: Papers in Evolutionary Economic Geography
Year: 2011
Pages: 47
Print publication date: 18/06/2011
Source Publication Date: 18 June 2011
Institution: Utrecht University
Place Published: Utrecht, Netherlands
URL: http://econ.geo.uu.nl/peeg/peeg1109.pdf
