Follow the money

Abstract

This paper presents an original follow the money methodology and argues for adopting the approach in geographical research. In 2011, Christophers made a compelling theoretical case for following money; however, it is empirically challenging, and his call remains unanswered. I propose an approach for following money in practice, using quantitative methods to do critical financial analysis to map and model flows of money. Drawing on the cases of vaccine bonds and rhino bonds, I illustrate this approach and make the case for this powerful methodology, outlining its contributions to advancing debates in geography. First, following money provides a robust and detailed empirical evidence base, offering a clear and precise understanding of a case study. Second, empirically, the methodology delivers a precise account of the material (re)distribution of resources, revealing who benefits or loses, by how much, and where. Theoretically, the methodology contributes to understanding the social and economic relations which support and are created by money's circulation. Fourth, following money reveals the mechanisms and consequences of financialisation. Finally, the approach contributes to understanding risk in society by uncovering financial risks, who faces them, and their significance. I also present some notes of caution on the limitations of the approach.

Taking the spatialization of heterodox economics to the next level. States, cities and money

“…After all, if the crisis is reflected through money and space, heterodox economists and critical geographers have been creatively working on ways to 'follow the money' and set things right (see, e.g. Hughes-Mc-Lure, 2022).…”

The economic geographies of mergers and acquisitions (M&As)

“…Analysing M&As helps us understand these networks of corporate ownership. By borrowing the logic of ‘follow the money’ approaches in economic geography ( Hughes-McLure, 2022 ), research can follow the acquisition to trace the origins of TNCs and map the formation of complex corporate networks. Tracing acquisitions backwards allows research to understand how, when and where corporate networks merge, evolve and adapt.…”