Could the Crisis at Northern Rock have been Predicted
An Evolutionary Approach
Bibliographic Data
| ID | 11697347 |
|---|---|
| Authors | Victoria Chick (UCL Australia, corresponding author) |
| Year | 2008 |
| Volume | 27 |
| Issue | 1 |
| Pages | 115-124 |
| Publication date | 2008-04-09 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Contributions to Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0277-5921 • E-ISSN: 1464-3588 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1093/cpe/bzn007 |
| OpenAlex | W2123088551 |
| Language | EN |
| Citations received | 15 |
Bankers have, from their beginning, made their money by taking risks and deciding how much risk they dare take, by expanding gradually, testing the water. Within this framework, the first risk is of illiquidity, but they must also ensure solvency. The steps taken by Northern Rock in developing their present ‘business plan’ are the same as those taken by most other banks, responding to the same incentives. It is the rapidity of its expansion that resulted in its downfall. The steps that have been taken also by other banks can be traced back to the beginning of banking and are predictable. Northern Rock's difficulties were predictable – and were predicted
Business · Economics · Incentive · Market economy · Market liquidity · Monetary economics · Plan (archaeology · Solvency · Banking stability, regulation, efficiency · Complex Systems and Time Series Analysis · Economic theories and models · Geology · Paleontology
Victoria Chick 1936–2023
Schattenbanken und der Ausbau eines inklusiven Finanzwesens im globalen Süden
Understanding the financialisation of capitalist advanced economies
Continuity and Evolution in an Old Industrial Region
From demutualisation to meltdown
The local geographies of the financial crisis
Placing the run on northern rock
De las altas finanzas a la debacle
When billions meet trillions
What is Financialisation? Examining the Role of Economic Methodology as Source of Theoretical and Policy Divergences
Instability and Crisis in Financial Complex Systems
On Causes and Outcomes of the European Crisis
Victoria Chick's Keynes in Time
Credit policy and the 'debt shift' in advanced economies
Wages of Sin
| Unique citing works | 15 |
|---|---|
| Citations per year | 0,88 |
| Citation span | 2009 - 2025 (17) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 15 |