Liquidity Lost: The Governance of the Global Financial Crisis
- Submitting institution
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University of Durham
- Unit of assessment
- 14 - Geography and Environmental Studies
- Output identifier
- 90389
- Type
- A - Authored book
- DOI
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10.1093/acprof:oso/9780199683789.001.0001
- Publisher
- Oxford University Press
- ISBN
- 9780198778882
- Open access status
- -
- Month of publication
- -
- Year of publication
- 2014
- URL
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- Supplementary information
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- Request cross-referral to
- -
- Output has been delayed by COVID-19
- No
- COVID-19 affected output statement
- -
- Forensic science
- No
- Criminology
- No
- Interdisciplinary
- No
- Number of additional authors
-
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- Research group(s)
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- Proposed double-weighted
- Yes
- Double-weighted statement
- This 220 page, 85,000 word monograph was the culmination of research conducted over five years across the financial sectors in the United Kingdom and United States of America, based on extensive archive work and 22 elite interviews in London, New York and Washington with policymakers, regulators, bankers and fund managers. Research findings were presented at more than ten conferences and workshops in Europe and North America. The project was theoretically ambitious and complex: it seeks to provide a novel cultural economy perspective on crisis governance and an in-depth analysis of how the global financial crisis was governed from 2007-2011.
- Reserve for an output with double weighting
- No
- Additional information
- Three of the nine chapters draw on (but do not reproduce) three previously published articles (two submitted to REF 2014), such that no more than 20 percent of the book is covered by pre-2014 publications. The relatively narrow empirical and conceptual treatments of ‘liquidity’, ‘toxicity’ and ‘risk’ offered by previous articles were significantly expanded and edited in the book. This included the addition of more up-to-date empirical materials, revisiting and elaborating concepts in the context of the book’s more comprehensive framework, and developing analytical arguments to contribute to the book’s claims concerning ways of governing the global financial crisis.
This 220 page, 85000 word monograph was the culmination of a research project conducted over five years across the financial sectors in the United Kingdom and United States of America. Initial impetus and grant support was provided by a Visiting Fellowship to study liquidity under the ‘Water’ theme of the Institute of Advanced Study, Durham University, during 2010. Subsequent small grants from my employer institutions during this period (Northumbria University, York University) made possible fieldwork in 2011 and 2012 that comprised archival research and 22 elite interviews in London, New York and Washington with policymakers, regulators, bankers and fund managers. Research findings and draft chapters were presented at more than ten conferences and workshops in Europe and North America. The project was both theoretically ambitious and complex: it seeks to provide a novel cultural economy perspective on crisis governance and an in-depth analysis of the multiple ways in which the global financial crisis was governed from 2007-2011 as a crisis of liquidity, toxicity, solvency, risk, regulation, and debt.
Three of the nine chapters in Liquidity Lost draw on (but do not simply reproduce) previously published articles, such that no more than 20 percent of the book is covered by pre-2014 materials.
• Langley, P. Anticipating uncertainty, reviving risk? On the stress testing of finance in crisis. Economy and Society. 2013;42:51-73.
• Langley, P. Toxic assets, turbulence and biopolitical security: Governing the crisis of global financial circulation. Security Dialogue. 2013;44:111-126.
• Langley, P. The performance of liquidity in the subprime mortgage crisis. New Political Economy. 2010;15:71-89
- Author contribution statement
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- Non-English
- No
- English abstract
- -
