Clark University

ECONOMIC GEOGRAPHY ISSUE: Vol. 90 No. 3 July 2014

 

 

 

Design of new Economic Geography JournalEconomic Geography is an internationally peer-reviewed journal, committed to publishing cutting-edge research that makes theoretical advances to the discipline. Our long-standing specialization is to publish the best theoretically-based empirical articles that deepen the understanding of significant economic geography issues around the world. Owned by Clark University since 1925, Economic Geography actively supports scholarly activities of economic geographers. Economic Geography is published quarterly in January, April, July, and October.

CONTENTS

 

 

Editorial

Journal Articl

 

Merger and Acquisition Activity as Driver of Spatial Clustering: The Spatial Evolution of the Dutch Banking Industry, 1850–1993

Ron Boschma, Matté Hartog, Pages 247–266
Abstract | Complete Article | Enhanced Article

 

Advanced Producer Service Firms as Strategic Networks, Global Cities as Strategic Places

Peter J. Taylor, Ben Derudder, James Faulconbridge, Michael Hoyler, Pengfei Ni, Pages 267–291
Abstract |Complete Article | Enhanced Article

 

White Knights from the Gulf: Sovereign Wealth Fund Investment and the Evolution of German Industrial Finance

Daniel Haberly, Pages 293–320
Abstract | Complete Article | Enhanced Article

 

The Topological Multiplicities of Power: The Limits of Governing the Olympics

Martin Müller, Pages 321–339
Abstract | Complete Article | Enhanced Article

 

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BOOK REVIE

 

Keys to the City: How Economics, Institutions, Social Interaction, and Politics Shape Development, by Michael Storper

Ron Martin, pages 341–344
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Corporate Sovereignty: Law and Government under Capitalism, by Joshua Barkan

Russell Prince, pages 345–346
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Degraded Work: The Struggle at the Bottom of the Labor Market, by Marc Doussard

Sean M. Crotty, pages 347–348
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Lifeblood: Oil Freedom and the Forces of Capital, by Matthew Huber

Jody Beck, pages 349–350
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ABSTRACTS

Merger and Acquisition Activity as Driver of Spatial Clustering: The Spatial Evolution of the Dutch Banking Industry, 1850–1993 by Ron Boschma, Matté Hartog

Abstract: This article investigates the extent to which merger and acquisition (M&A) activity contributed to the spatial clustering of the Dutch banking industry in Amsterdam. This analysis is based on a unique database of all banks in the Netherlands that existed in the period 1850–1993. We found that spatial clustering of the Dutch banking industry was not driven by the fact that banks performed better in the Amsterdam region: being located in Amsterdam decreased rather than increased the survival chances of banks. However, banks in Amsterdam were disproportionally active in acquiring other banks outside Amsterdam. Experience in M&As accumulated mainly in the Amsterdam region, which in turn had a positive impact on the survival chances of banks located there. Our findings suggest that M&A activity was a driving force behind the spatial clustering of the Dutch banking industry between 1850 and 1993.

Key words: industrial dynamics,cluster,mergers and acquisitions,banking sector,evolutionary economic geography

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Advanced Producer Service Firms as Strategic Networks, Global Cities as Strategic Places by Peter J. Taylor, Ben Derudder, James Faulconbridge, Michael Hoyler, Pengfei Ni

Abstract: Sassen's identification of global cities as “strategic places” is explored through world city network analysis. This involves searching out advanced producer service (APS) firms that constitute “strategic networks,” from whose activities strategic places can be defined. Twenty-five out of 175 APS firms are found to be strategic, and from their office networks, 45 cities out of 526 are designated as strategic places. A measure of “strategicness” of cities is devised, and individual findings from this are discussed by drawing on existing literature about how APS firms use specific cities. A key finding shows that New York and London have different levels of strategicness, and this is related to the former's innovation prowess and the latter's role in global consumption of services. Other cases of strategicness discussed in terms of the balance between production and consumption of APSs are Beijing, Hong Kong, and Shanghai; Palo Alto; Mexico City; Johannesburg; and Dubai and Frankfurt.


Key words: advanced producer services,global cities, London, New York,strategic places, world city network

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White Knights from the Gulf: Sovereign Wealth Fund Investment and the Evolution of German Industrial Finance by Daniel Haberly

Abstract: The period leading up to and following the global financial crisis has been characterized by rising global financial diversity and multipolarity, a process underscored by the growth of so-called sovereign wealth funds (SWFs). To date there has not been any systematic examination of the interactions between this rising global financial diversity and national economic institutional diversity. Here I apply an institutional “comparative capitalisms” perspective to the analysis of Gulf Cooperation Council (GCC) SWF investment in German industry since the onset of the global financial crisis. The evidence demonstrates that a growing number of German industrial firms—particularly the major automotive firms at the heart of German industry—have recruited long-term GCC SWF investment as an adaptive response to the stresses of financial restructuring, most importantly the appearance of hostile takeovers as a feature of the German corporate governance landscape. These patterns lend partial support to “varieties of capitalism” (VOC) arguments that institutional complementarity and comparative institutional advantage are likely to produce path dependent trajectories of national institutional evolution. They also lend partial support to critiques of VOC, emphasizing, on the one hand, the importance of the Polanyian “double movement” of market expansion and containment and, on the other, the transnational foundations of national institutional diversity. I conclude that to fully explain these patterns, both VOC theories of institutional complementarity and comparative advantage, and Polanyian theories of the double movement, must be grounded in a “generalized Darwinian” analysis of population-level selection dynamics.


Key words: varieties of capitalism, variegated capitalism, generalized Darwinism, Polanyian Double Movement, Germany, sovereign wealth funds, financial globalization



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The Topological Multiplicities of Power: The Limits of Governing the Olympics, by Martin Müller

Abstract:This article proposes that economic geography would benefit from a closer consideration of the topological multiplicities of power, that is, the multiple contending configurations of networks that make power a precarious accomplishment through creating constant overflows. It develops this argument by tracing how the circulation of knowledge in the preparation for the Olympic Games establishes sociomaterial networks that are meant to allow the International Olympic Committee to coordinate the organization of the event. On the basis of Bruno Latour's concept of the oligopticon, the article develops a sociomaterial notion of power to govern at a distance that emerges through the triple movement of collecting and mobilizing information, casting it into stable intermediaries, and recirculating knowledge. At the same time, a parallel narrative considers how this power and its spatial reach remain always partial and are transformed by overflows as elements move in and out of networks and how forces outside the network bear on it, creating “absent presences.” Giving adequate attention to these topological multiplicities of sociomaterial networks offers an important counterweight to the dominant notion of stable social networks in economic geography and is particularly useful when analyzing the governance of projects and various other forms of ephemeral, distributed organizing.


Key words: power, actor-network theory, multiplicities,Olympic Games,circulation, knowledge


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UPCOMING ARTICLES

October 2014

 

On the Relationship between Innovation and Wage Inequality: New Evidence from Canadian Cities  enhanced article
Sébastien Breau, Dieter F. Kogler, Kenyon C. Bolton

Regional Branching Reconsidered: Emergence of the Fuel Cell Industry in European Regions  enhanced article
Anne Nygaard Tanner

Juggling with Proximity and Distance. Collaborative Innovation Projects in the Danish Cleantech Industry  enhanced article
Teis Hansen

 

Competition, Law, and the Power of (Imagined) Geography: Market Definition and the Emergence of Too-Big-to-Fail Banking in the United States  enhanced article
Brett Christophers

 

FUTURE ISSUES

 

Roepke Lecture in Economic Geography---The Lives of Others: Body Work, The Production of Difference and Labour Geographies
Linda McDowell

Toward a Dynamic Theory of Global Production Networks  enhanced article
Henry Wai-chung Yeung, Neil M. Coe

Positionality Switch: Remapping Resource Communities in Russian Borderlands enhanced article
Jarmo Kortelainen, Pertti Rannikko

 

 







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