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Urban Studies, Vol. 32, No. 2, 329-344 (1995)
DOI: 10.1080/00420989550013112
© 1995 Urban Studies Journal Limited

Place Your Bets: Towards an Understanding of Globalisation, Socio-financial Engineering and Competition within a Financial Centre

Michael Pryke

Faculty of Social Sciences, The Open University, Walton Hall, Milton Keynes MK7 6AA, UK

Roger Lee

Department of Geography, Queen Mary and Westfield College, London, Mile End Road, London E1 4NS, UK

Globalisation and technical change increase the intensity of competition within and between financial centres already subject to competitive pressures from an apparently highly mobile financial capital. However, financial production is shaped by its complex, socially constructed cultural geography through which the variety of its markets take place and its profits are defined and made. The production of mortgage-backed securities within the City of London illustrates the argument.


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