FINANCIAL RESILIENCE

This research cluster examines the evolutionary dynamics of urbanization and the institutional trajectory of the monetary-financial system as a joint historical process. At the core of our research stands the notion that capitalism is essentially a financial system in which money is not ‘neutral’, principally because the arrangements of finance matter for how the built environment evolves. Specific research questions might be framed around the concept of ‘financial resilience’ within the broader context of governance and regulatory aspects of money and finance, showing how and why the concurrent processes of urbanization and financialization render such a system at once resilient and unstable. Consequently, the particular behavioral attributes of a capitalist economy evolve around the (spatial) impact of money, credit and banking upon system behavior – both in terms of an institutional view of resilience (i.e. the resilience of specific monetary arrangements, financial intermediaries, and financial markets) and in terms of a functional view of resilience (i.e. the resilience of rates of profit or funding and asset flows). In the broadest sense, financial resilience can be considered a property of the process of globalized urbanization in an era of financialized capitalism and provides a framework through which to theorize the spatially uneven consequences of monetary-financial governance, (dis)equilibrium and regulation.

Current research:

(1) “Conceptualizing Urban Fiscal Resilience: Theory and Measurement.” (David Bieri, Omchand Mahdu, and Rongrong Wei)

(2) “Financialization and the Urbanization of Capital Revisited.” (David Bieri and Priscila Izar)

(3) “Moonlights, Sunspots, and Frontier Finance: On the Nexus between Money, Credit, and Urban Form.” (David Bieri and Trey Mcmillon)

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