The city, power and economic policy in the UK

Sayer, Stuart

doi:10.1080/758539004

Cited by 3 publications

(2 citation statements)

References 40 publications

(37 reference statements)

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“…To understand why financial services companies have been the major sources of demand for new and refurbished commercial property in the past decade in London, we need to explain the expanding international role of the City. The forces contributing to the spatial growth of London as an international financial centre have resulted in an enormous concentration of financial power and activities within the Square Mile and at its fringe (Sayer, 1992).…”

Section: London's Expanding International Rolementioning

confidence: 99%

The Integration of Property and Financial Markets

Coakley

1994

Environ Plan A

140

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Abstract. In this paper, the nature of property and the growing links between property and financial markets are addressed. It is argued that property must be viewed as a commodity with use-value and exchange-value aspects. Property has been affected by two developments in the 1980s: the shift to services (especially financial services) and waves of deregulation. The increase in demand during the 1980s boom stemmed both from investors such as property companies and from end users, especially those engaged in or expanding into securities business following Big Bang. As property markets, including the housing retail finance circuit, became increasingly intertwined with wholesale financial markets they became more susceptible to the vicissitudes of these markets and tendencies toward crisis. The exchange value of property became disengaged from its use value as property took on the attributes of a quasi-financial asset.

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Section: London's Expanding International Rolementioning

confidence: 99%

The Integration of Property and Financial Markets

Coakley

1994

Environ Plan A

140

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“…Some other aspects of the politicisation of monetarism also get an airing in ITMR. The`vested interests' of the banking system are seen as being anti monetary control since this imposes restrictions on the growth of their balance sheets (p. 41, see also Sayer, 1992). In turn, the Bank of England is seen as a regulator captured by banks, with Pepper supporting the recent separation of the agencies responsible for prudential supervision and monetary control.…”

Section: Inside Thatcher's Monetarist Revolutionmentioning

confidence: 99%