The best of both worlds
Scale economies and discriminatory policies in London's global financial centre
Dados Bibliográficos
| ID | 2159745 |
|---|---|
| Autores | Photis Lysandrou (City University Political Economy Research Centre (CITYPERC), Department of International Politics, City, University of London, London, United Kingdom), Anastasia Nesvetailova (University of London), Ronen Palan (0000-0002-2773-5352, University of London) |
| Ano | 2017 |
| Volume | 46 |
| Fascículo | 2 |
| Páginas | 159-184 |
| Data de publicação | 2017-04-03 |
| Peer Reviewed | Sim |
| Open Access | Não |
| Tipo | ARTICLE |
| Periódico | Economy and Society (JOURNAL) |
| Identificadores do periódico | ISSN: 0308-5147 • E-ISSN: 1469-5766 |
| Editora | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/03085147.2017.1359915 |
| OpenAlex | W2760784032 |
| Idioma | EN |
| Citações recebidas | 6 |
| Referências citadas | 16 |
From the early 1960s onwards London has managed to vie with New York for the top spot as an international financial centre. Ever since then, London has reigned as a leading global financial hub, despite not having behind it anything like the political or economic backing enjoyed by New York. This paper seeks to explain this phenomenon by building on Kindleberger’s classic analysis of financial centres as international hubs that arise due to economic, geographic and infrastructural advantages, and more recent theories of specialized financial centres which suggest that financial centres deploy discriminatory business practices in order to compete with the scale economy-based centres. Our central claim is that London’s continuing financial supremacy can be traced to the way that the opposing ‘economic’ and ‘political’ sets of criteria necessary for a financial centre are here inextricably fused together in a mutually reinforcing dynamic. Three case studies are used to support this claim: the market for international loans and deposits; the forex (FX) and over the counter (OTC) derivatives markets; and the area of asset and collateral management
Asset (computer security · Business · Collateral · Economics · Economy · Financial market · Financial services · Financial system · Market economy · Order (exchange · Political science · Politics · Scale (ratio · Global Financial Regulation and Crises · Maritime Ports and Logistics · State Capitalism and Financial Governance · Finance · Law
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| Obras citantes distintas | 6 |
|---|---|
| Citações por ano | 0,67 |
| Intervalo de citações | 2017 - 2023 (7) |
| Velocidade de citação | historical |
| Altamente citado | Não |
| Tipos de citação | Neutras: 6 |