Crisis and resilience in a finance-led city: Effects of the global financial crisis in Leeds. (November 2014)

• Record Type: Journal Article
• Authors: Gonzalez, Sara; Oosterlynck, Stijn
• Other Names: Griggs Steven guest-editor.; Sullivan Helen guest-editor.; Blanco Ismael guest-editor.
• Is Part Of: Urban studies. Volume 51:Number 15(2014:Nov.)
• Page Start: 3164
• Page End: 3179
• Publication Date: 2014-11
• Subjects: economic development -- global financial crisis -- governance -- neoliberal urbanism -- urban growth models -- urban leadership -- variegated neoliberalisation; Cities and towns -- Periodicals; City planning -- Periodicals; 307.1216
• DOI: 10.1177/0042098013519142
• Languages: English
• ISSNs: 0042-0980

Abstract

This paper looks at the impacts of the 2008 global financial crisis on Leeds, a medium sized city in northern England, which in the last decades has specialised in finance-related economic activities. Our aim is to understand if the largely neoliberal pre-crisis urban growth model pursued in Leeds, based significantly on real estate speculation, retail and finance, was put at risk by the crisis and whether a collective reflection by local leaders took place about the need to change direction. To do that we have conducted interviews with experts in the city and analysed policy documents in detail. We focus, in particular, on how the crisis was constructed as affecting Leeds and more specifically if the socio-economic development trajectory and associated urban governance model have changed. We conclude that there has been little reflection and questioning of the underlying principles of the urban growth and governance model in Leeds.