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Karen Py Lai

Biographic Data

ID2850860
NAMEKaren Py Lai
GIVEN NAMESKaren Py
FAMILY NAMELai
SIGNATURELAI K P
AFFILIATIONSDurham University
ORCID0000-0003-4654-9819
VERIFIEDYes
TOTAL WORKS34
TOTAL CITATIONS468
AUTHOR COUNT34
EDITOR COUNT0
FIRST PUBLICATION YEAR2003
LATEST PUBLICATION YEAR2026
H-INDEX11
  • Economic Geography for the Next Century

    Siobhán Mcgrath, Carlo Castaldi et al.•ARTICLE•Economic Geography•2026•Cited by: 1

    In this editorial we follow on from Murphy’s “Looking Back: Economic Geography’s Evolution, 1925–1991” (Murphy Citation2026), a critical and reflective history of EG, to reflect upon where matters are presently, and on future directions that we see as most relevant, urgent, and exciting

  • Financial geography III – Everyday lives of finance

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Progress in Human Geography•2026•References: 92

    This third progress report on financial geography focuses on the everyday lives of finance. Moving beyond firm- and state-centric analyses, research increasingly foregrounds how financialisation permeates households, care relations and daily practices through variegated financial subjectivities, debt-based survival strategies and digital intermediation. Drawing on feminist political economy and critical approaches, the report highlights intersect…

  • Financial geography II – green finance and climate transition

    Open Access•Karen Py Lai•ARTICLE•Progress in Human Geography•2025•Cited by: 4•References: 33

    This second progress report on financial geography focuses on green finance and research on financing climate transition and environmental challenges. It explores theoretical approaches to green finance, with Marxist perspectives on shifting capital-nature relations in broader regimes of capitalist accumulation that are complemented with a Foucauldian lens on biopolitical governmentality. It then examines specific forms of green financial markets…

  • Geographies of Responsibility, Care and Repair in Digital Worlds of AI: Introduction to the Themed Intervention

    Open Access•Jessica Mclean, Louise Reid et al.•ARTICLE•Transactions of the Institute of…•2025•Cited by: 2•References: 20

    The presence of AI in everyday life has dramatically increased and intensified in the last few years. From playing a role in teaching and research activities within educational institutions, to becoming a ubiquitous feature in search engines and in all manner of apps, AI is now omnipresent. While geographers have long examined the role of AI in various ways, in this Themed Intervention we highlight often overlooked dimensions of responsibility, c…

  • Atlas of finance: Seeing and communicating the (financial) world differently

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Geoforum•2025•References: 1

  • World cities under conditions of digitization and platform capitalism: Updating the advanced producer services complex

    Open Access•David Bassens, Reijer Hendrikse et al.•ARTICLE•Geoforum•2024•Cited by: 4•References: 9

    This themed issue showcases contributions that study how processes of digitization and platformization are reshaping the intermediary role and operations of advanced producer services (APS). It places these alterations against the backdrop of earlier rounds of APS ‘shapeshifting’ amid globalization and financialization. This introduction to the themed issue outlines the main dimensions of these shifts affecting APS: geographical changes, sectoral…

  • State action and inaction in the shaping of value and wealth entanglements: The role of Singapore in the global 'gold chain

    Open Access•Lotte Thomsen, Karen P Y Lai et al.•ARTICLE•Environment and Planning A…•2024•Cited by: 1•References: 63

    Value and wealth creation, capture and protection are important features of contemporary global capitalism. However, global value chains and global wealth chains have been studied mostly in isolation from each other. In this article, we address this limitation by revealing the entanglements of value and wealth in the gold sector. We develop a typology of state action and inaction in value and wealth chains to explain how the state shapes the mobi…

  • Lost (in) space for dialogue: On the (abandoned) need for working papers in human geography

    Open Access•Sabine Dörry, Daniel Wojcik et al.•ARTICLE•Environment and Planning F•2023

    Working papers have traditionally been an important means of communication in social sciences, including human geography. However, while some series have thrived for decades, working paper series in human geography are generally less common than in some other social sciences or the natural sciences, and face an uncertain future. Based on a survey with the editors of thirty journals in human geography, we draw a diverse and rather controversial pi…

  • Financial geography I: The state-finance nexus

    Open Access•Karen Py Lai•ARTICLE•Progress in Human Geography•2023•Cited by: 13•References: 23

    In the first of my reports on financial geography, I focus on a growing body of work that engages with the state as a vital and strategic actor in financial markets and in the global economy. After the 2008 global financial crisis, austerity measures and impacts on public finance have reshaped local-central government relationships with increasing use of financial instruments and market solutions. The growing prominence of sovereign wealth funds,…

  • Care for Transactions

    Open Access•Adrian J Bailey, Markus Roos Breines et al.•ARTICLE•Transactions of the Institute of…•2023•Cited by: 7•References: 82

    In this editorial we ask key questions about what it means to publish ‘a journal’ in a world of publishing which is driven by individual article metrics and online access. Seeing the value of journals as venues for intellectual debate, we therefore set out a renewed vision as to how the Transactions of the Institute of British Geographers can provide space for more collective and collaborative approaches to geographical debate. This approach revo…

  • Playful finance: Gamification and intermediation in FinTech economies

    Open Access•Karen Py Lai, Paul Langley•ARTICLE•Geoforum•2023•Cited by: 8•References: 9

    This paper examines how digital gamification techniques, which incorporate video gaming elements (rather than full-fledged games) into apps, are reshaping the logics and practices of intermediation that are core to FinTech economies. First, we argue gamification brings into view socio-technical knowledges, such as behavioral science, digital marketing, and user experience (UX) and user interface (UI) design, which are increasingly important to co…

  • Financial Geography

    Open Access•Karen P Y Lai, Karen Py Lai•CHAPTER•International Encyclopedia of…•2022

    Financial geography is concerned with the roles of finance, money, and markets in the restructuring of contemporary capitalism, and how these changes have uneven impacts across space. Studies focus on the ways in which space and place are mobilized in shaping financial decisions, allocation of capital, regulatory frameworks of global financial markets, and development of onshore and offshore financial centers. An early political economy approach …

  • The brokerage role of Hong Kong in global financial networks: The case of mainland Chinese companies’ US listings

    Cheng Fang, Fenghua Pan et al.•ARTICLE•Regional Studies•2022•Cited by: 4•References: 11

    This paper explores the prominent and enduring brokerage role of Hong Kong in facilitating mainland Chinese companies’ US listings. We argue the brokerage role needs to be interpreted in both global and territorial dimensions. Situating Hong Kong in the global context, it uses its connectivity in global financial networks, and especially its close tie to the network core, New York, to broker between global and local scales. In its territorial con…

  • Ecologies of green finance: Green sukuk and development of green Islamic finance in Malaysia

    Open Access•Felicia H M Liu, Felicia Hm Liu et al.•ARTICLE•Environment and Planning A…•2021•Cited by: 4•References: 38

    In this paper, we analyse the recent development of green sukuk (often referred to as an Islamic green bond) since its issuance in Malaysia in 2017, and critically evaluate whether it addresses some of the existing contradictions of green finance. Using a financial ecologies approach, we examine Malaysia's configuration of green sukuk as drawing from the existing international green bond regime, partnership with the World Bank, and Malaysia's own…

  • Financing the Belt and Road Initiative (BRI): Research agendas beyond the “debt-trap” discourse

    Karen Py Lai, Shaun Lin et al.•ARTICLE•Eurasian Geography and Economics•2020•Cited by: 31•References: 23

    By way of introduction to the four papers that follow, we chart some key parameters of debate about finance and the Belt and Road Initiative (BRI). In particular, we argue that the rise of discourses about “predatory lending” and “debt trap” (that feature in much commentary and reportage about BRI) merits critique and contextualization. The financing needs of BRI also raise important implications for the geography of financial markets and busines…

  • Towards an economic geography of FinTech

    Open Access•Karen Py Lai, Michael Samers•ARTICLE•Progress in Human Geography•2020•Cited by: 35•References: 23

    In this paper, we identify the ways in which the existing literature has examined financial technology (FinTech). Using the frame of the ‘FinTech Cube’, we examine how FinTech unfolds through the intersections of key actors, technologies and institutions. We demonstrate the relevance of FinTech for two areas of geographical enquiry: i) the reshaping of global production and financial networks, and ii) financial inclusion and poverty reduction in …

  • How ‘global’ are investment banks? An analysis of investment banking networks in Asian equity capital markets

    Kurtuluş Gemici, Karen Py Lai•ARTICLE•Regional Studies•2019•Cited by: 6•References: 16

    This paper examines the distribution of power within financial networks of investment banks in equity capital markets of three key economies in Asia: Hong Kong, Japan and Singapore. Using social network analysis, it shows that while bulge-bracket banks occupy core positions in all three locations, their dominance is challenged by emerging Asian investment banks. The equity capital market networks of investment banks are strongly shaped by develop…

  • New financial geographies of Asia

    Karen Py Lai, Fenghua Pan et al.•ARTICLE•Regional Studies•2019•Cited by: 7•References: 16

    This special issue examines the recent trends and impacts of financial development in Asia and its implications for regional studies in this rapidly growing region. This editorial introduces the dynamics of the financial landscape in Asia and its growing influence in global finance. Overall, the papers in this special issue highlight the important roles of both the local institutional contexts and global capital markets in shaping new financial g…

  • Agency, power, and state–firm relations in global financial networks

    Open Access•Karen Py Lai•ARTICLE•Dialogues in Human Geography•2018•Cited by: 10•References: 8

    In response to Töpfer’s incisive critique of how current work on global production networks and global financial networks (GFNs) have been too firm-centric and reliant on neoliberal market framings, this commentary highlights three key points for developing a deeper conceptualization of the state in financial processes and networks. The first addresses the role of the state and inter-firm relations, the second deals with conceptualizations of pow…

  • Brexit and shifting geographies of financial centres in Asia

    Open Access•Karen Py Lai, Fenghua Pan•ARTICLE•Geoforum•2018•Cited by: 4•References: 3

  • Financialization of Everyday Life

    Karen Py Lai, Karen Lai et al.•BOOK•The New Oxford Handbook of…•2018•Cited by: 14•References: 15

    This chapter identifies three key research themes for investigating the financialization of everyday life, whereby individual subjectivity, aspiration, and forms of conduct at the level of individuals and households are increasingly tied to financial structures and logics. The first theme analyses how new intermediaries of finance have increased the influence and pervasiveness of financial instruments and solutions in everyday life. The second ex…

  • Financial Geography

    Open Access•Karen P Y Lai, Karen Py Lai•CHAPTER•International Encyclopedia of…•2017

    Financial geography is concerned with the roles of finance, money, and markets in the restructuring of contemporary capitalism, and how these changes have uneven impacts across space. Studies focus on the ways in which space and place are mobilized in shaping financial decisions, allocation of capital, regulatory frameworks of global financial markets, and development of onshore and offshore financial centers. An early political economy approach …

  • Unpacking financial subjectivities: Intimacies, governance and socioeconomic practices in financialisation

    Open Access•Karen Py Lai•ARTICLE•Environment and Planning D…•2017•Cited by: 59•References: 49

    Existing studies on financialisation have used Foucauldian governmentality to examine how everyday consumers, shaped by state initiatives and proliferation of financial products, are transforming into self-reliant subjects capable of seeking out financial knowledge and products for future security. By bringing the idea of agencement into critical dialogue with governmentality, this paper incorporates lived and emotive elements of quotidian financ…

  • Conceptualizing Islamic banking and finance: A comparison of its development and governance in Malaysia and Singapore

    Karen Py Lai, Michael Samers•ARTICLE•The Pacific Review•2016•Cited by: 12•References: 12

    In response to the limited engagement with critical social science concerning the governance of Islamic banking and finance (IBF), this paper compares and conceptualizes the development and governance of IBF in Malaysia and Singapore. We argue that IBF governance in Malaysia and Singapore can be distinguished on the basis of ethnic politics, moral suasion, product demand, product innovation, and the character of state practices. Concerning the la…

  • Financial advisors, financial ecologies and the variegated financialisation of everyday investors

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Transactions of the Institute of…•2015•Cited by: 37•References: 43

    While recent work on financialisation of everyday life has elucidated the reshaping of everyday consumers as risk‐taking investors, the role of financial advisors ( FA s) has been overlooked, even though they are key intermediaries in articulating households and individuals into circuits of global finance. Through a financial ecologies approach, this paper focuses on FA s to reveal the ambiguities and inconsistencies inherent in their professiona…

Next
  • Integrating Finance into Global Production Networks

    Neil M Coe, Karen Py Lai et al.•ARTICLE•Regional Studies•2014•Cited by: 100•References: 27

    Integrating finance into global production networks, Regional Studies. While successful in its aim of 'globalizing' regional development, the global production network (GPN) approach has thus far paid less attention to the role of finance in the dynamics of the global economy and regional development. This lacuna is significant as finance is arguably even more globalized and networked than production. To address this gap the paper distils the con…

  • Unpacking financial subjectivities: Intimacies, governance and socioeconomic practices in financialisation

    Open Access•Karen Py Lai•ARTICLE•Environment and Planning D…•2017•Cited by: 59•References: 49

    Existing studies on financialisation have used Foucauldian governmentality to examine how everyday consumers, shaped by state initiatives and proliferation of financial products, are transforming into self-reliant subjects capable of seeking out financial knowledge and products for future security. By bringing the idea of agencement into critical dialogue with governmentality, this paper incorporates lived and emotive elements of quotidian financ…

  • Differentiated Markets: Shanghai, Beijing and Hong Kong in China’s Financial Centre Network

    Open Access•Karen Py Lai, Karen Lai•ARTICLE•Urban Studies•2012•Cited by: 45•References: 42

    This paper examines the roles of Shanghai, Beijing and Hong Kong as financial centres by utilising interview and secondary data to analyse the decision-making of financial and regulatory actors, and the different functional roles of foreign banks in those cities. Their intercity relations demonstrate a complex mix of competition and collaboration that embeds them in evolving networks of interdependence. Empirical findings indicate differentiated …

  • Financial advisors, financial ecologies and the variegated financialisation of everyday investors

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Transactions of the Institute of…•2015•Cited by: 37•References: 43

    While recent work on financialisation of everyday life has elucidated the reshaping of everyday consumers as risk‐taking investors, the role of financial advisors ( FA s) has been overlooked, even though they are key intermediaries in articulating households and individuals into circuits of global finance. Through a financial ecologies approach, this paper focuses on FA s to reveal the ambiguities and inconsistencies inherent in their professiona…

  • Towards an economic geography of FinTech

    Open Access•Karen Py Lai, Michael Samers•ARTICLE•Progress in Human Geography•2020•Cited by: 35•References: 23

    In this paper, we identify the ways in which the existing literature has examined financial technology (FinTech). Using the frame of the ‘FinTech Cube’, we examine how FinTech unfolds through the intersections of key actors, technologies and institutions. We demonstrate the relevance of FinTech for two areas of geographical enquiry: i) the reshaping of global production and financial networks, and ii) financial inclusion and poverty reduction in …

  • Financing the Belt and Road Initiative (BRI): Research agendas beyond the “debt-trap” discourse

    Karen Py Lai, Shaun Lin et al.•ARTICLE•Eurasian Geography and Economics•2020•Cited by: 31•References: 23

    By way of introduction to the four papers that follow, we chart some key parameters of debate about finance and the Belt and Road Initiative (BRI). In particular, we argue that the rise of discourses about “predatory lending” and “debt trap” (that feature in much commentary and reportage about BRI) merits critique and contextualization. The financing needs of BRI also raise important implications for the geography of financial markets and busines…

  • Imagineering’ Asian emerging markets: Financial knowledge networks in the fund management industry

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Geoforum•2006•Cited by: 24•References: 12

  • Marketization through contestation: Reconfiguring China's financial markets through knowledge networks

    Karen Py Lai, K P Y Lai•ARTICLE•Journal of Economic Geography•2010•Cited by: 19•References: 42

    10.1093/jeg/lbq005

  • Financialization of Everyday Life

    Karen Py Lai, Karen Lai et al.•BOOK•The New Oxford Handbook of…•2018•Cited by: 14•References: 15

    This chapter identifies three key research themes for investigating the financialization of everyday life, whereby individual subjectivity, aspiration, and forms of conduct at the level of individuals and households are increasingly tied to financial structures and logics. The first theme analyses how new intermediaries of finance have increased the influence and pervasiveness of financial instruments and solutions in everyday life. The second ex…

  • Financial geography I: The state-finance nexus

    Open Access•Karen Py Lai•ARTICLE•Progress in Human Geography•2023•Cited by: 13•References: 23

    In the first of my reports on financial geography, I focus on a growing body of work that engages with the state as a vital and strategic actor in financial markets and in the global economy. After the 2008 global financial crisis, austerity measures and impacts on public finance have reshaped local-central government relationships with increasing use of financial instruments and market solutions. The growing prominence of sovereign wealth funds,…

  • Conceptualizing Islamic banking and finance: A comparison of its development and governance in Malaysia and Singapore

    Karen Py Lai, Michael Samers•ARTICLE•The Pacific Review•2016•Cited by: 12•References: 12

    In response to the limited engagement with critical social science concerning the governance of Islamic banking and finance (IBF), this paper compares and conceptualizes the development and governance of IBF in Malaysia and Singapore. We argue that IBF governance in Malaysia and Singapore can be distinguished on the basis of ethnic politics, moral suasion, product demand, product innovation, and the character of state practices. Concerning the la…

  • Agency, power, and state–firm relations in global financial networks

    Open Access•Karen Py Lai•ARTICLE•Dialogues in Human Geography•2018•Cited by: 10•References: 8

    In response to Töpfer’s incisive critique of how current work on global production networks and global financial networks (GFNs) have been too firm-centric and reliant on neoliberal market framings, this commentary highlights three key points for developing a deeper conceptualization of the state in financial processes and networks. The first addresses the role of the state and inter-firm relations, the second deals with conceptualizations of pow…

  • Playful finance: Gamification and intermediation in FinTech economies

    Open Access•Karen Py Lai, Paul Langley•ARTICLE•Geoforum•2023•Cited by: 8•References: 9

    This paper examines how digital gamification techniques, which incorporate video gaming elements (rather than full-fledged games) into apps, are reshaping the logics and practices of intermediation that are core to FinTech economies. First, we argue gamification brings into view socio-technical knowledges, such as behavioral science, digital marketing, and user experience (UX) and user interface (UI) design, which are increasingly important to co…

  • Neighbours First, Bankers Second”: Mobilising financial citizenship in Singapore

    Open Access•Karen P Y Lai, Karen Py Lai et al.•ARTICLE•Geoforum•2015•Cited by: 8•References: 13

  • Care for Transactions

    Open Access•Adrian J Bailey, Markus Roos Breines et al.•ARTICLE•Transactions of the Institute of…•2023•Cited by: 7•References: 82

    In this editorial we ask key questions about what it means to publish ‘a journal’ in a world of publishing which is driven by individual article metrics and online access. Seeing the value of journals as venues for intellectual debate, we therefore set out a renewed vision as to how the Transactions of the Institute of British Geographers can provide space for more collective and collaborative approaches to geographical debate. This approach revo…

  • New financial geographies of Asia

    Karen Py Lai, Fenghua Pan et al.•ARTICLE•Regional Studies•2019•Cited by: 7•References: 16

    This special issue examines the recent trends and impacts of financial development in Asia and its implications for regional studies in this rapidly growing region. This editorial introduces the dynamics of the financial landscape in Asia and its growing influence in global finance. Overall, the papers in this special issue highlight the important roles of both the local institutional contexts and global capital markets in shaping new financial g…

  • How ‘global’ are investment banks? An analysis of investment banking networks in Asian equity capital markets

    Kurtuluş Gemici, Karen Py Lai•ARTICLE•Regional Studies•2019•Cited by: 6•References: 16

    This paper examines the distribution of power within financial networks of investment banks in equity capital markets of three key economies in Asia: Hong Kong, Japan and Singapore. Using social network analysis, it shows that while bulge-bracket banks occupy core positions in all three locations, their dominance is challenged by emerging Asian investment banks. The equity capital market networks of investment banks are strongly shaped by develop…

  • New Spatial Logics in Global Cities Research: Networks, Flows and New Political Spaces

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Geography Compass•2009•Cited by: 5•References: 40

    While world cities or global cities research has become an established interdisciplinary field over a few short decades, criticisms have been levelled at its narrow focus on selected leading cities and specific economic activities of corporate headquarters, finance and advanced producer services. This article identifies four recent strands of research from geographers and urban scholars seeking more nuanced and critical approaches to processes of…

  • Financial geography II – green finance and climate transition

    Open Access•Karen Py Lai•ARTICLE•Progress in Human Geography•2025•Cited by: 4•References: 33

    This second progress report on financial geography focuses on green finance and research on financing climate transition and environmental challenges. It explores theoretical approaches to green finance, with Marxist perspectives on shifting capital-nature relations in broader regimes of capitalist accumulation that are complemented with a Foucauldian lens on biopolitical governmentality. It then examines specific forms of green financial markets…

  • World cities under conditions of digitization and platform capitalism: Updating the advanced producer services complex

    Open Access•David Bassens, Reijer Hendrikse et al.•ARTICLE•Geoforum•2024•Cited by: 4•References: 9

    This themed issue showcases contributions that study how processes of digitization and platformization are reshaping the intermediary role and operations of advanced producer services (APS). It places these alterations against the backdrop of earlier rounds of APS ‘shapeshifting’ amid globalization and financialization. This introduction to the themed issue outlines the main dimensions of these shifts affecting APS: geographical changes, sectoral…

  • The brokerage role of Hong Kong in global financial networks: The case of mainland Chinese companies’ US listings

    Cheng Fang, Fenghua Pan et al.•ARTICLE•Regional Studies•2022•Cited by: 4•References: 11

    This paper explores the prominent and enduring brokerage role of Hong Kong in facilitating mainland Chinese companies’ US listings. We argue the brokerage role needs to be interpreted in both global and territorial dimensions. Situating Hong Kong in the global context, it uses its connectivity in global financial networks, and especially its close tie to the network core, New York, to broker between global and local scales. In its territorial con…

  • Ecologies of green finance: Green sukuk and development of green Islamic finance in Malaysia

    Open Access•Felicia H M Liu, Felicia Hm Liu et al.•ARTICLE•Environment and Planning A…•2021•Cited by: 4•References: 38

    In this paper, we analyse the recent development of green sukuk (often referred to as an Islamic green bond) since its issuance in Malaysia in 2017, and critically evaluate whether it addresses some of the existing contradictions of green finance. Using a financial ecologies approach, we examine Malaysia's configuration of green sukuk as drawing from the existing international green bond regime, partnership with the World Bank, and Malaysia's own…

  • Brexit and shifting geographies of financial centres in Asia

    Open Access•Karen Py Lai, Fenghua Pan•ARTICLE•Geoforum•2018•Cited by: 4•References: 3

  • The Lehman Minibonds crisis and financialisation of investor subjects in Singapore

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Area•2013•Cited by: 3•References: 16

    Using the case of the L ehman M inibonds crisis in S ingapore, this paper aims to elucidate processes of financialisation and geographies of investor subjects by investigating the reshaping of retail banking consumers into investor subjects. Instead of painting all investor subjects with a broad brush as part of a generic financialisation process, the Minibonds crisis demonstrates how the consumption of financial products is geographically specif…

  • Geographies of Responsibility, Care and Repair in Digital Worlds of AI: Introduction to the Themed Intervention

    Open Access•Jessica Mclean, Louise Reid et al.•ARTICLE•Transactions of the Institute of…•2025•Cited by: 2•References: 20

    The presence of AI in everyday life has dramatically increased and intensified in the last few years. From playing a role in teaching and research activities within educational institutions, to becoming a ubiquitous feature in search engines and in all manner of apps, AI is now omnipresent. While geographers have long examined the role of AI in various ways, in this Themed Intervention we highlight often overlooked dimensions of responsibility, c…

  • Contesting the State: Discourses of the Asian Economic Crisis and Mediating Strategies of Electronics Firms in Singapore

    Open Access•Karen P Y Lai, Karen Py Lai et al.•ARTICLE•Environment and Planning A…•2003•Cited by: 1•References: 79

    In the last decade or so, human geographers have paid greater attention to the significance of discourses. We acknowledge the importance of discursive constructions and metaphorical representations of economic space, and extend the argument by examining the practices that may follow from such discourses. With use of empirical data from a firm-level survey and interviews with representatives of electronics firms in Singapore, we focus on contested…

  • Imagineering’ Asian emerging markets: Financial knowledge networks in the fund management industry

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Geoforum•2006•Cited by: 24•References: 12

  • New Spatial Logics in Global Cities Research: Networks, Flows and New Political Spaces

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Geography Compass•2009•Cited by: 5•References: 40

    While world cities or global cities research has become an established interdisciplinary field over a few short decades, criticisms have been levelled at its narrow focus on selected leading cities and specific economic activities of corporate headquarters, finance and advanced producer services. This article identifies four recent strands of research from geographers and urban scholars seeking more nuanced and critical approaches to processes of…

  • Marketization through contestation: Reconfiguring China's financial markets through knowledge networks

    Karen Py Lai, K P Y Lai•ARTICLE•Journal of Economic Geography•2010•Cited by: 19•References: 42

    10.1093/jeg/lbq005

  • Globalization: Key thinkers. jones, andrew

    Karen Py Lai•ARTICLE•Geografiska Annaler Series B…•2011

    10.1111/j.1468-0467.2011.00379.x

  • Differentiated Markets: Shanghai, Beijing and Hong Kong in China’s Financial Centre Network

    Open Access•Karen Py Lai, Karen Lai•ARTICLE•Urban Studies•2012•Cited by: 45•References: 42

    This paper examines the roles of Shanghai, Beijing and Hong Kong as financial centres by utilising interview and secondary data to analyse the decision-making of financial and regulatory actors, and the different functional roles of foreign banks in those cities. Their intercity relations demonstrate a complex mix of competition and collaboration that embeds them in evolving networks of interdependence. Empirical findings indicate differentiated …

  • The Lehman Minibonds crisis and financialisation of investor subjects in Singapore

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Area•2013•Cited by: 3•References: 16

    Using the case of the L ehman M inibonds crisis in S ingapore, this paper aims to elucidate processes of financialisation and geographies of investor subjects by investigating the reshaping of retail banking consumers into investor subjects. Instead of painting all investor subjects with a broad brush as part of a generic financialisation process, the Minibonds crisis demonstrates how the consumption of financial products is geographically specif…

  • Integrating Finance into Global Production Networks

    Neil M Coe, Karen Py Lai et al.•ARTICLE•Regional Studies•2014•Cited by: 100•References: 27

    Integrating finance into global production networks, Regional Studies. While successful in its aim of 'globalizing' regional development, the global production network (GPN) approach has thus far paid less attention to the role of finance in the dynamics of the global economy and regional development. This lacuna is significant as finance is arguably even more globalized and networked than production. To address this gap the paper distils the con…

  • Financial advisors, financial ecologies and the variegated financialisation of everyday investors

    Open Access•Karen P Y Lai, Karen Py Lai•ARTICLE•Transactions of the Institute of…•2015•Cited by: 37•References: 43

    While recent work on financialisation of everyday life has elucidated the reshaping of everyday consumers as risk‐taking investors, the role of financial advisors ( FA s) has been overlooked, even though they are key intermediaries in articulating households and individuals into circuits of global finance. Through a financial ecologies approach, this paper focuses on FA s to reveal the ambiguities and inconsistencies inherent in their professiona…

  • Neighbours First, Bankers Second”: Mobilising financial citizenship in Singapore

    Open Access•Karen P Y Lai, Karen Py Lai et al.•ARTICLE•Geoforum•2015•Cited by: 8•References: 13

  • Conceptualizing Islamic banking and finance: A comparison of its development and governance in Malaysia and Singapore

    Karen Py Lai, Michael Samers•ARTICLE•The Pacific Review•2016•Cited by: 12•References: 12

    In response to the limited engagement with critical social science concerning the governance of Islamic banking and finance (IBF), this paper compares and conceptualizes the development and governance of IBF in Malaysia and Singapore. We argue that IBF governance in Malaysia and Singapore can be distinguished on the basis of ethnic politics, moral suasion, product demand, product innovation, and the character of state practices. Concerning the la…

  • Financial Geography

    Open Access•Karen P Y Lai, Karen Py Lai•CHAPTER•International Encyclopedia of…•2017

    Financial geography is concerned with the roles of finance, money, and markets in the restructuring of contemporary capitalism, and how these changes have uneven impacts across space. Studies focus on the ways in which space and place are mobilized in shaping financial decisions, allocation of capital, regulatory frameworks of global financial markets, and development of onshore and offshore financial centers. An early political economy approach …

  • Unpacking financial subjectivities: Intimacies, governance and socioeconomic practices in financialisation

    Open Access•Karen Py Lai•ARTICLE•Environment and Planning D…•2017•Cited by: 59•References: 49

    Existing studies on financialisation have used Foucauldian governmentality to examine how everyday consumers, shaped by state initiatives and proliferation of financial products, are transforming into self-reliant subjects capable of seeking out financial knowledge and products for future security. By bringing the idea of agencement into critical dialogue with governmentality, this paper incorporates lived and emotive elements of quotidian financ…

  • Agency, power, and state–firm relations in global financial networks

    Open Access•Karen Py Lai•ARTICLE•Dialogues in Human Geography•2018•Cited by: 10•References: 8

    In response to Töpfer’s incisive critique of how current work on global production networks and global financial networks (GFNs) have been too firm-centric and reliant on neoliberal market framings, this commentary highlights three key points for developing a deeper conceptualization of the state in financial processes and networks. The first addresses the role of the state and inter-firm relations, the second deals with conceptualizations of pow…

  • Brexit and shifting geographies of financial centres in Asia

    Open Access•Karen Py Lai, Fenghua Pan•ARTICLE•Geoforum•2018•Cited by: 4•References: 3

  • Financialization of Everyday Life

    Karen Py Lai, Karen Lai et al.•BOOK•The New Oxford Handbook of…•2018•Cited by: 14•References: 15

    This chapter identifies three key research themes for investigating the financialization of everyday life, whereby individual subjectivity, aspiration, and forms of conduct at the level of individuals and households are increasingly tied to financial structures and logics. The first theme analyses how new intermediaries of finance have increased the influence and pervasiveness of financial instruments and solutions in everyday life. The second ex…

  • How ‘global’ are investment banks? An analysis of investment banking networks in Asian equity capital markets

    Kurtuluş Gemici, Karen Py Lai•ARTICLE•Regional Studies•2019•Cited by: 6•References: 16

    This paper examines the distribution of power within financial networks of investment banks in equity capital markets of three key economies in Asia: Hong Kong, Japan and Singapore. Using social network analysis, it shows that while bulge-bracket banks occupy core positions in all three locations, their dominance is challenged by emerging Asian investment banks. The equity capital market networks of investment banks are strongly shaped by develop…

  • New financial geographies of Asia

    Karen Py Lai, Fenghua Pan et al.•ARTICLE•Regional Studies•2019•Cited by: 7•References: 16

    This special issue examines the recent trends and impacts of financial development in Asia and its implications for regional studies in this rapidly growing region. This editorial introduces the dynamics of the financial landscape in Asia and its growing influence in global finance. Overall, the papers in this special issue highlight the important roles of both the local institutional contexts and global capital markets in shaping new financial g…

  • Financing the Belt and Road Initiative (BRI): Research agendas beyond the “debt-trap” discourse

    Karen Py Lai, Shaun Lin et al.•ARTICLE•Eurasian Geography and Economics•2020•Cited by: 31•References: 23

    By way of introduction to the four papers that follow, we chart some key parameters of debate about finance and the Belt and Road Initiative (BRI). In particular, we argue that the rise of discourses about “predatory lending” and “debt trap” (that feature in much commentary and reportage about BRI) merits critique and contextualization. The financing needs of BRI also raise important implications for the geography of financial markets and busines…

  • Towards an economic geography of FinTech

    Open Access•Karen Py Lai, Michael Samers•ARTICLE•Progress in Human Geography•2020•Cited by: 35•References: 23

    In this paper, we identify the ways in which the existing literature has examined financial technology (FinTech). Using the frame of the ‘FinTech Cube’, we examine how FinTech unfolds through the intersections of key actors, technologies and institutions. We demonstrate the relevance of FinTech for two areas of geographical enquiry: i) the reshaping of global production and financial networks, and ii) financial inclusion and poverty reduction in …

  • Ecologies of green finance: Green sukuk and development of green Islamic finance in Malaysia

    Open Access•Felicia H M Liu, Felicia Hm Liu et al.•ARTICLE•Environment and Planning A…•2021•Cited by: 4•References: 38

    In this paper, we analyse the recent development of green sukuk (often referred to as an Islamic green bond) since its issuance in Malaysia in 2017, and critically evaluate whether it addresses some of the existing contradictions of green finance. Using a financial ecologies approach, we examine Malaysia's configuration of green sukuk as drawing from the existing international green bond regime, partnership with the World Bank, and Malaysia's own…

  • Financial Geography

    Open Access•Karen P Y Lai, Karen Py Lai•CHAPTER•International Encyclopedia of…•2022

    Financial geography is concerned with the roles of finance, money, and markets in the restructuring of contemporary capitalism, and how these changes have uneven impacts across space. Studies focus on the ways in which space and place are mobilized in shaping financial decisions, allocation of capital, regulatory frameworks of global financial markets, and development of onshore and offshore financial centers. An early political economy approach …

  • The brokerage role of Hong Kong in global financial networks: The case of mainland Chinese companies’ US listings

    Cheng Fang, Fenghua Pan et al.•ARTICLE•Regional Studies•2022•Cited by: 4•References: 11

    This paper explores the prominent and enduring brokerage role of Hong Kong in facilitating mainland Chinese companies’ US listings. We argue the brokerage role needs to be interpreted in both global and territorial dimensions. Situating Hong Kong in the global context, it uses its connectivity in global financial networks, and especially its close tie to the network core, New York, to broker between global and local scales. In its territorial con…

  • Lost (in) space for dialogue: On the (abandoned) need for working papers in human geography

    Open Access•Sabine Dörry, Daniel Wojcik et al.•ARTICLE•Environment and Planning F•2023

    Working papers have traditionally been an important means of communication in social sciences, including human geography. However, while some series have thrived for decades, working paper series in human geography are generally less common than in some other social sciences or the natural sciences, and face an uncertain future. Based on a survey with the editors of thirty journals in human geography, we draw a diverse and rather controversial pi…

  • Financial geography I: The state-finance nexus

    Open Access•Karen Py Lai•ARTICLE•Progress in Human Geography•2023•Cited by: 13•References: 23

    In the first of my reports on financial geography, I focus on a growing body of work that engages with the state as a vital and strategic actor in financial markets and in the global economy. After the 2008 global financial crisis, austerity measures and impacts on public finance have reshaped local-central government relationships with increasing use of financial instruments and market solutions. The growing prominence of sovereign wealth funds,…

Economics (24 works) · Political science (22 works) · Finance (21 works) · Business (19 works) · Housing, Finance, and Neoliberalism (16 works) · Finance (15 works) · Financial market (12 works) · Politics (12 works) · Sociology (12 works) · Geography (11 works)

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