The global financial crisis and neighborhood decline
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Neighborhood decline is a complex and multidimensional process. National and regional variations in economic and political structures (including varieties in national welfare state arrangements), combined with differences in neighborhood history, development, and population composition, make it impossible to identify an ideal-type process of neighborhood decline over time. The recent global financial crisis and the subsequent economic recession affected many European and North American cities in terms of growing unemployment levels and rising poverty in concentrated areas. Investments in urban restructuring and neighborhood improvement programs have simultaneously decreased or come to a halt altogether. While many studies have investigated the effects of the financial crisis on national housing markets or on foreclosures in particular US metropolitan areas, only a few studies have focused on how the crisis affected neighborhood change. By proposing 10 hypotheses about the ways in which the economic crisis might influence processes of neighborhood decline, this article aims to advance the debate and calls for more contextualized, empirical research on neighborhood change.
Zwiers , M , Bolt , G , Van Ham , M & Van Kempen , R 2016 , ' The global financial crisis and neighborhood decline ' Urban Geography , vol 37 , no. 5 , pp. 664-684 . DOI: 10.1080/02723638.2015.1101251
© 2016 The Author(s). Published by Taylor & Francis. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
The research leading to these results has received funding from Platform31 in the Netherlands; from the European Research Council under the European Union’s Seventh Framework Programme (FP/2007-2013)/ERC Grant Agreement number 615159 (ERC Consolidator Grant DEPRIVEDHOODS, Socio-spatial inequality, deprived neighborhoods, and neighborhood effects); and from the Marie Curie programme under the European Union’s Seventh Framework Programme (FP/2007-2013)/Career Integration Grant number PCIG10-GA-2011-303728 (CIG Grant NBHCHOICE, Neighborhood choice, neighborhood sorting, and neighborhood effects).
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