Pub Date : 2023-10-01DOI: 10.1177/0308518x231202917
Renee Tapp, Kelly Kay
This paper serves as an introduction to the themed issue on “Post-Crisis Fiscal Geographies.” In it, we review the growing body of work on fiscal policy and geography, with particular emphasis on taxation and tax policy. We argue that geographers and other scholars of political economy should pay greater attention to the state’s active capacities, particularly during the long troughs between the crises which tend to receive the bulk of scholarly and popular attention. We situate the three papers that comprise the special issue within the broader literature, closing by suggesting the need to broaden fiscal geographies scholarship beyond tax, as well as raising the possibilities for justice that could arise from closer engagement with fiscal policy.
{"title":"Fiscal geographies between the crisis and the pandemic","authors":"Renee Tapp, Kelly Kay","doi":"10.1177/0308518x231202917","DOIUrl":"https://doi.org/10.1177/0308518x231202917","url":null,"abstract":"This paper serves as an introduction to the themed issue on “Post-Crisis Fiscal Geographies.” In it, we review the growing body of work on fiscal policy and geography, with particular emphasis on taxation and tax policy. We argue that geographers and other scholars of political economy should pay greater attention to the state’s active capacities, particularly during the long troughs between the crises which tend to receive the bulk of scholarly and popular attention. We situate the three papers that comprise the special issue within the broader literature, closing by suggesting the need to broaden fiscal geographies scholarship beyond tax, as well as raising the possibilities for justice that could arise from closer engagement with fiscal policy.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134934010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-28DOI: 10.1177/0308518x231202912
Wenying Fu
In this exchange piece, I engage with Weber’s critical analysis, destabilizing the ideological dichotomy of the big bang approach versus experimental gradualism. I suggest that China’s past decades of conspicuous economic success are attributed to the political tactics of navigating the variegated sociospatial contingencies, as well as the conjunctures of new rounds of spatial division of labor globally in the 1980s. In sum, I point to the role of the arts of governmentality in reconfiguring domestic economic geography to sustain and facilitate the expansion of market margins for the growth of state power.
{"title":"The expansion of China’s market margins: Navigating contingencies and conjunctures","authors":"Wenying Fu","doi":"10.1177/0308518x231202912","DOIUrl":"https://doi.org/10.1177/0308518x231202912","url":null,"abstract":"In this exchange piece, I engage with Weber’s critical analysis, destabilizing the ideological dichotomy of the big bang approach versus experimental gradualism. I suggest that China’s past decades of conspicuous economic success are attributed to the political tactics of navigating the variegated sociospatial contingencies, as well as the conjunctures of new rounds of spatial division of labor globally in the 1980s. In sum, I point to the role of the arts of governmentality in reconfiguring domestic economic geography to sustain and facilitate the expansion of market margins for the growth of state power.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135386596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-28DOI: 10.1177/0308518x231202905
Chris Meulbroek
This contribution frames Isabella Weber’s How China Escaped Shock Therapy as an opportunity for geographers to theoretically and methodologically engage with a growing literature on the intellectual histories of economics. I draw out three key themes in the book that provide entry points for geographical theorizing. First, Weber understands economic knowledge to be shaped not solely by its original context but by the historical-geographical trajectories and mobilities of its producers and consumers; second, she traces the institutional processes through which economic ideas re-emerge across time and space, offering key intellectual resources for dealing with context-specific governance dilemmas and economic problems; and third, her granular accounts of elite-intellectual contestation offer a way to reveal complexity and contradiction on the inside of dominant economic-geographical imaginaries. The book is a conjunctural historical geography of China’s economy, which is both empirically specific and theoretically-general.
{"title":"Conjunctural geographies of the economy in Isabella Weber’s <i>How China Escaped Shock Therapy</i>","authors":"Chris Meulbroek","doi":"10.1177/0308518x231202905","DOIUrl":"https://doi.org/10.1177/0308518x231202905","url":null,"abstract":"This contribution frames Isabella Weber’s How China Escaped Shock Therapy as an opportunity for geographers to theoretically and methodologically engage with a growing literature on the intellectual histories of economics. I draw out three key themes in the book that provide entry points for geographical theorizing. First, Weber understands economic knowledge to be shaped not solely by its original context but by the historical-geographical trajectories and mobilities of its producers and consumers; second, she traces the institutional processes through which economic ideas re-emerge across time and space, offering key intellectual resources for dealing with context-specific governance dilemmas and economic problems; and third, her granular accounts of elite-intellectual contestation offer a way to reveal complexity and contradiction on the inside of dominant economic-geographical imaginaries. The book is a conjunctural historical geography of China’s economy, which is both empirically specific and theoretically-general.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135386476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-28DOI: 10.1177/0308518x231203087
Trevor J Barnes
Following Jamie Peck’s remit for this initial set of Exchanges section contributions to present forward-positive approaches to economic geography, I offer American philosophical pragmatism, and more specifically, the neo-pragmatism of the American philosopher, Richard Rorty (1931–2007). Rather than providing a complete architectonic philosophy, pragmatism presents a set of ideas about ideas. Within the context of economic geography, I explore within this short paper three neo-pragmatist ideas: a reconceptualization of knowledge and truth; experimentation and creativity; and pluralism and conversation.
{"title":"Towards a pragmatist economic geography","authors":"Trevor J Barnes","doi":"10.1177/0308518x231203087","DOIUrl":"https://doi.org/10.1177/0308518x231203087","url":null,"abstract":"Following Jamie Peck’s remit for this initial set of Exchanges section contributions to present forward-positive approaches to economic geography, I offer American philosophical pragmatism, and more specifically, the neo-pragmatism of the American philosopher, Richard Rorty (1931–2007). Rather than providing a complete architectonic philosophy, pragmatism presents a set of ideas about ideas. Within the context of economic geography, I explore within this short paper three neo-pragmatist ideas: a reconceptualization of knowledge and truth; experimentation and creativity; and pluralism and conversation.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135387163","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-27DOI: 10.1177/0308518x231197296
Andrei Guter-Sandu, Armin Hass, Steffen Murau
How to finance the Green Transition toward net-zero carbon emissions remains an open question. The literature either operates within a market-failure paradigm that calls for carbon taxes or cap-and-trade to help markets correct themselves, or via war finance analogies that offer a “triad” of state intervention possibilities: taxation, treasury borrowing, and central bank money creation. These frameworks often lack a thorough conceptualization of endogenous credit money creation and disregard the systemic and procedural dimensions of financing the Green Transition. We propose “Monetary Architecture” as a more comprehensive framework that perceives the monetary and financial system as a constantly evolving and historically specific hierarchical web of interlocking balance sheets. Using the United States as a case study, we stress the importance of a systemic financing dimension that uses all available elasticity space in the monetary architecture while considering a division of labor between firefighting balance sheets such as central banks or treasuries and workhorse balance sheets such as off-balance-sheet fiscal agencies or shadow banks. Procedurally, public workhorses should provide an initial balance sheet expansion and crowd in the rest of the monetary architecture, notably shadow banks, for long-term funding. Firefighters should prevent systemic instability and manage a possible final contraction.
{"title":"Monetary architecture and the Green Transition","authors":"Andrei Guter-Sandu, Armin Hass, Steffen Murau","doi":"10.1177/0308518x231197296","DOIUrl":"https://doi.org/10.1177/0308518x231197296","url":null,"abstract":"How to finance the Green Transition toward net-zero carbon emissions remains an open question. The literature either operates within a market-failure paradigm that calls for carbon taxes or cap-and-trade to help markets correct themselves, or via war finance analogies that offer a “triad” of state intervention possibilities: taxation, treasury borrowing, and central bank money creation. These frameworks often lack a thorough conceptualization of endogenous credit money creation and disregard the systemic and procedural dimensions of financing the Green Transition. We propose “Monetary Architecture” as a more comprehensive framework that perceives the monetary and financial system as a constantly evolving and historically specific hierarchical web of interlocking balance sheets. Using the United States as a case study, we stress the importance of a systemic financing dimension that uses all available elasticity space in the monetary architecture while considering a division of labor between firefighting balance sheets such as central banks or treasuries and workhorse balance sheets such as off-balance-sheet fiscal agencies or shadow banks. Procedurally, public workhorses should provide an initial balance sheet expansion and crowd in the rest of the monetary architecture, notably shadow banks, for long-term funding. Firefighters should prevent systemic instability and manage a possible final contraction.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135476216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-27DOI: 10.1177/0308518x231202390
Godfrey Yeung
Lead firms play a dominant role in the governance structure of conventional global production network (GPN) analyses but this framework is not fully applicable in sectors where (new) regulations, technologies and subsequent market changes have a disruptive effect on its governance structure. This paper proposes an analytical framework to examine how disruptive effects of industrial megatrends in forms of new regulations and technologies and the subsequent market changes could alter the competitive dynamics between lead firms and their tier-I suppliers. Although lead firms are becoming more specialized and highly efficient in specific product segments, they may not always have inter-firm control over their tier-I suppliers. GPN boundaries become more permeable when there is an external shock, such as new regulations or massive shifts in consumer demand, or the entrance of an entirely new lead firm, possibly due to a technological breakthrough or innovative use of existing technologies in a product. This external shock could have disruptive effects on the GPN, from the exit of current lead firms to the entrance of new tier-I suppliers or lead firms. Consequently, a reconstituted GPN with a newly established boundary is then produced. Applying the analytical framework to the automotive industry, it is argued that selected (and new) systems suppliers with expertise in micro-electronics are not only in a prime position to capture the value generated by the increasingly stringent regulatory environment on safety and environmental standards, but also more resilient than the incumbent automakers to three emerging megatrends: electrification, digitalization and autonomous driving. JEL: F23, L14, L20, L62
{"title":"Competitive dynamics of lead firms and their systems suppliers in the automotive industry","authors":"Godfrey Yeung","doi":"10.1177/0308518x231202390","DOIUrl":"https://doi.org/10.1177/0308518x231202390","url":null,"abstract":"Lead firms play a dominant role in the governance structure of conventional global production network (GPN) analyses but this framework is not fully applicable in sectors where (new) regulations, technologies and subsequent market changes have a disruptive effect on its governance structure. This paper proposes an analytical framework to examine how disruptive effects of industrial megatrends in forms of new regulations and technologies and the subsequent market changes could alter the competitive dynamics between lead firms and their tier-I suppliers. Although lead firms are becoming more specialized and highly efficient in specific product segments, they may not always have inter-firm control over their tier-I suppliers. GPN boundaries become more permeable when there is an external shock, such as new regulations or massive shifts in consumer demand, or the entrance of an entirely new lead firm, possibly due to a technological breakthrough or innovative use of existing technologies in a product. This external shock could have disruptive effects on the GPN, from the exit of current lead firms to the entrance of new tier-I suppliers or lead firms. Consequently, a reconstituted GPN with a newly established boundary is then produced. Applying the analytical framework to the automotive industry, it is argued that selected (and new) systems suppliers with expertise in micro-electronics are not only in a prime position to capture the value generated by the increasingly stringent regulatory environment on safety and environmental standards, but also more resilient than the incumbent automakers to three emerging megatrends: electrification, digitalization and autonomous driving. JEL: F23, L14, L20, L62","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135580021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-25DOI: 10.1177/0308518x231201233
Shaina Potts
In this piece, I make the case for deeper engagement with law and legal methodologies in economic geography. Recent work in and beyond geography has demonstrated that law is constitutive of capitalism. Yet, despite excellent research on many particular spatio-legal topics, there have been few attempts to conceptualize a legal approach to economic geography in any sustained way. Here, I suggest that incorporating law and legal methodologies into existing economic geographic analyses can deepen our explanations of spatio-temporal economic variegation, opening up new research questions and methods for economic geographers and expanding our conceptions of economic governance, agency, and knowledge.
{"title":"Law’s place in economic geography: Time, space, and methods","authors":"Shaina Potts","doi":"10.1177/0308518x231201233","DOIUrl":"https://doi.org/10.1177/0308518x231201233","url":null,"abstract":"In this piece, I make the case for deeper engagement with law and legal methodologies in economic geography. Recent work in and beyond geography has demonstrated that law is constitutive of capitalism. Yet, despite excellent research on many particular spatio-legal topics, there have been few attempts to conceptualize a legal approach to economic geography in any sustained way. Here, I suggest that incorporating law and legal methodologies into existing economic geographic analyses can deepen our explanations of spatio-temporal economic variegation, opening up new research questions and methods for economic geographers and expanding our conceptions of economic governance, agency, and knowledge.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135815951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-25DOI: 10.1177/0308518x231202909
Steve Rolf
Isabella Weber’s book is a prodigious contribution to the political economy of Chinese development. One of the text’s most valuable contributions is its identification of the consistently anti-inflationary stance of CCP policy. Its coverage of debates surrounding price stability and liberalisation during the shifts away from the plan in the late 1980s is particularly valuable. Here, I focus on the question of inflation, which since 2021 has dramatically appeared on the agenda for the first time in the professional lives of many political economists and geographers in the global north. The book provides valuable, fine-grained evidence from contemporary Chinese policymakers (above all through a reading of Zhao Ziyang’s writings) to make the case that the inflationary pressures experienced in China as the government experimented with reforming the planned economy during the late 1980s were not principally monetary phenomena – nor were they understood as such by contemporary actors. I build on the text by showing how it demonstrates the relevance of exploring the inflation question at a variety of spatial scales. I conclude by considering how contemporary Chinese policymakers may negotiate this inflationary ‘scale-jumping’.
{"title":"Spatial scales of inflation and deflation","authors":"Steve Rolf","doi":"10.1177/0308518x231202909","DOIUrl":"https://doi.org/10.1177/0308518x231202909","url":null,"abstract":"Isabella Weber’s book is a prodigious contribution to the political economy of Chinese development. One of the text’s most valuable contributions is its identification of the consistently anti-inflationary stance of CCP policy. Its coverage of debates surrounding price stability and liberalisation during the shifts away from the plan in the late 1980s is particularly valuable. Here, I focus on the question of inflation, which since 2021 has dramatically appeared on the agenda for the first time in the professional lives of many political economists and geographers in the global north. The book provides valuable, fine-grained evidence from contemporary Chinese policymakers (above all through a reading of Zhao Ziyang’s writings) to make the case that the inflationary pressures experienced in China as the government experimented with reforming the planned economy during the late 1980s were not principally monetary phenomena – nor were they understood as such by contemporary actors. I build on the text by showing how it demonstrates the relevance of exploring the inflation question at a variety of spatial scales. I conclude by considering how contemporary Chinese policymakers may negotiate this inflationary ‘scale-jumping’.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"91 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135859634","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-25DOI: 10.1177/0308518x231198154
María Barrero-Rescalvo, Ibán Díaz-Parra
Platform capitalism is a growing reality with a widening social and economic impact. The rapid expansion of Short-Term Rental (STR) platforms has led to new challenges for policy regulation. The main objective of this paper is to shed some light on current conflicts surrounding the regulation of STR. The body of literature on this topic mainly focuses on the increasing substitution of sharing economy by commercial hosts. By contrast, we explain that the ideological notion of host hinders the understanding of the supply-side structure. A critical approach (as critique of ideology and ideological categories) should entail a class perspective based on rent theory and engage with critical works on platform capitalism. In this article, we propose an innovative analytical approach to STR supply-side supported by rent theory, which focuses on the relationship of agents with land and technology ownership and specialised management services, as these are forms of rent appropriation. From this point of view, these supply-side agents are not hosts, but class factions with common and competing economic interests in rent appropriation. Therefore, they can employ a variety of strategies to influence the political regulation of STRs. Based on in-depth interviews with landlords, individual managers, and corporate agencies in Andalusia (Southern Spain), we show the conflicting internal structure behind the ideological notion of host and even professionalisation.
{"title":"Short-term rentals supply-side’ structure and the struggle for rent appropriation: Insights from Andalusia, Spain","authors":"María Barrero-Rescalvo, Ibán Díaz-Parra","doi":"10.1177/0308518x231198154","DOIUrl":"https://doi.org/10.1177/0308518x231198154","url":null,"abstract":"Platform capitalism is a growing reality with a widening social and economic impact. The rapid expansion of Short-Term Rental (STR) platforms has led to new challenges for policy regulation. The main objective of this paper is to shed some light on current conflicts surrounding the regulation of STR. The body of literature on this topic mainly focuses on the increasing substitution of sharing economy by commercial hosts. By contrast, we explain that the ideological notion of host hinders the understanding of the supply-side structure. A critical approach (as critique of ideology and ideological categories) should entail a class perspective based on rent theory and engage with critical works on platform capitalism. In this article, we propose an innovative analytical approach to STR supply-side supported by rent theory, which focuses on the relationship of agents with land and technology ownership and specialised management services, as these are forms of rent appropriation. From this point of view, these supply-side agents are not hosts, but class factions with common and competing economic interests in rent appropriation. Therefore, they can employ a variety of strategies to influence the political regulation of STRs. Based on in-depth interviews with landlords, individual managers, and corporate agencies in Andalusia (Southern Spain), we show the conflicting internal structure behind the ideological notion of host and even professionalisation.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135816150","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-25DOI: 10.1177/0308518x231198353
Michael Grote, Dariusz Wojcik, Matthew Zook
To analyse oil, the world’s most traded commodity, we combine Global Production Network (GPN) and Global Financial Network (GFN) approaches into the Global Production and Financial Network (GPFN). The combination offers a dynamic framework, as key actors and geographies in the GPFN change over time. It brings together the production and financial strands of research on oil and overcomes the physical reality v. financial fiction dichotomy in literature. Using a wide range of data on oil networks, prices, historical accounts, as well as industry, media and policy reports, we apply the GPFN to explain the evolution of oil networks, since their inception, as well as the mid- and short-term price anomalies since 2010. Our history of oil GPFN demonstrates the stability of its analytical categories and the stickiness of power wielded by some actors and geographies, while others come and go. Our account of price anomalies shows the inseparability of physical and financial factors in explaining them. As whole the GFPN is an opportunity to understand the evolving broad structures, distribution of power and price formation in markets, and as such represents a way forward for studying other products and sectors.
{"title":"Sticky substance with sticky power: Oil in global production and financial networks","authors":"Michael Grote, Dariusz Wojcik, Matthew Zook","doi":"10.1177/0308518x231198353","DOIUrl":"https://doi.org/10.1177/0308518x231198353","url":null,"abstract":"To analyse oil, the world’s most traded commodity, we combine Global Production Network (GPN) and Global Financial Network (GFN) approaches into the Global Production and Financial Network (GPFN). The combination offers a dynamic framework, as key actors and geographies in the GPFN change over time. It brings together the production and financial strands of research on oil and overcomes the physical reality v. financial fiction dichotomy in literature. Using a wide range of data on oil networks, prices, historical accounts, as well as industry, media and policy reports, we apply the GPFN to explain the evolution of oil networks, since their inception, as well as the mid- and short-term price anomalies since 2010. Our history of oil GPFN demonstrates the stability of its analytical categories and the stickiness of power wielded by some actors and geographies, while others come and go. Our account of price anomalies shows the inseparability of physical and financial factors in explaining them. As whole the GFPN is an opportunity to understand the evolving broad structures, distribution of power and price formation in markets, and as such represents a way forward for studying other products and sectors.","PeriodicalId":11906,"journal":{"name":"Environment and Planning A","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135816553","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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