IDEAS home Printed from https://ideas.repec.org/a/sae/inrsre/v27y2004i4p411-430.html
   My bibliography  Save this article

Rank Size Distribution of International Financial Centers

Author

Listed:
  • Jessie P. H. Poon

    (Department of Geography, State University of New York at Buffalo, jesspoon@acsu.buffalo.edu)

  • Bradly Eldredge

    (Department of Geography, State University of New York at Buffalo, beldredge@state.mt.us)

  • David Yeung

    (Department of Finance and Decision Sciences, Hong Kong Baptist University, wkyeung@hkbu.edu.hk)

Abstract

The observation that global finance is concentrated in only a small number of international centers and cities has raised the question if worldwide financial integration is being achieved at the expense of increased international urban inequality. This article examines the spatial organization of stock markets for some forty-five cities. While New York, London, and Tokyo are undisputed hosts to the largest stock markets in the world, the analysis shows that inequality among international financial centers and cities has diminished between 1980 to 1999 with increased competition from regional financial centers and emerging markets.

Suggested Citation

  • Jessie P. H. Poon & Bradly Eldredge & David Yeung, 2004. "Rank Size Distribution of International Financial Centers," International Regional Science Review, , vol. 27(4), pages 411-430, October.
    • Handle: RePEc:sae:inrsre:v:27:y:2004:i:4:p:411-430
    DOI: 10.1177/0160017604267629
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0160017604267629
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0160017604267629?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Parr, John B., 1985. "A note on the size distribution of cities over time," Journal of Urban Economics, Elsevier, vol. 18(2), pages 199-212, September.
    2. Fujita, Masahisa & Krugman, Paul & Mori, Tomoya, 1999. "On the evolution of hierarchical urban systems1," European Economic Review, Elsevier, vol. 43(2), pages 209-251, February.
    3. David F. Batten, 2001. "The Complexity of Self-Organizing East Asian Networks," Palgrave Macmillan Books, in: David E. Andersson & Jessie P. H. Poon (ed.), Asia-Pacific Transitions, chapter 13, pages 171-188, Palgrave Macmillan.
    4. World Bank, 2000. "World Development Indicators 2000," World Bank Publications - Books, The World Bank Group, number 13828, December.
    5. Krugman, Paul, 1996. "Confronting the Mystery of Urban Hierarchy," Journal of the Japanese and International Economies, Elsevier, vol. 10(4), pages 399-418, December.
    6. Adrian Esparza & Andrew J. Krmenec, 1996. "The Spatial Extent of Producer Service Markets: Hierarchical Models of Interaction Revisited," Papers in Regional Science, Wiley Blackwell, vol. 75(3), pages 375-395, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. J.P.A. Sagaram & J. Wickramanayake, 2005. "Financial centers in the Asia-pacific region: an empirical study on australia, Hong Kong, Japan and Singapore," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 21-51.
    2. Martin Korpi, 2008. "Does size of local labour markets affect wage inequality? a rank-size rule of income distribution," Journal of Economic Geography, Oxford University Press, vol. 8(2), pages 211-237, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kim, Ho Yeon, 2012. "Shrinking population and the urban hierarchy," IDE Discussion Papers 360, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    2. Tomoya Mori & Tony E. Smith, 2009. "A Reconsideration of the NAS Rule from an Industrial Agglomeration Perspective," KIER Working Papers 669, Kyoto University, Institute of Economic Research.
    3. Ho Yeon KIM & Petra de Jong & Jan Rouwendal & Aleid Brouwer, 2012. "Shrinking population and the urban hierarchy [Housing preferences and attribute importance among Dutch older adults: a conjoint choice experiment]," ERSA conference papers ersa12p350, European Regional Science Association.
    4. Behrens, Kristian, 2007. "On the location and lock-in of cities: Geography vs transportation technology," Regional Science and Urban Economics, Elsevier, vol. 37(1), pages 22-45, January.
    5. Alexandra SCHAFFAR, 2012. "La Loi De Zipf Sous Le Prisme De L’Auto-Correlation Spatiale - Les Cas De La Chine Et De L’Inde," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 36, pages 189-204.
    6. Chen, Zhihong & Fu, Shihe & Zhang, Dayong, 2010. "Searching for the parallel growth of cities," MPRA Paper 21528, University Library of Munich, Germany.
    7. Duranton, Gilles, 2002. "City Size Distributions as a Consequence of the Growth Process," CEPR Discussion Papers 3577, C.E.P.R. Discussion Papers.
    8. Tomoya Mori & Koji Nishikimi & Tony E. Smith, 2008. "The Number‐Average Size Rule: A New Empirical Relationship Between Industrial Location And City Size," Journal of Regional Science, Wiley Blackwell, vol. 48(1), pages 165-211, February.
    9. Yannis M. Ioannides & Henry G. Overman, 2004. "Spatial evolution of the US urban system," Journal of Economic Geography, Oxford University Press, vol. 4(2), pages 131-156, April.
    10. Harris Dobkins, Linda & Ioannides, Yannis M., 2001. "Spatial interactions among U.S. cities: 1900-1990," Regional Science and Urban Economics, Elsevier, vol. 31(6), pages 701-731, November.
    11. Clémentine Cottineau, 2022. "What do analyses of city size distributions have in common?," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(3), pages 1439-1463, March.
    12. Zhihong Chen & Shihe Fu & Dayong Zhang, 2013. "Searching for the Parallel Growth of Cities in China," Urban Studies, Urban Studies Journal Limited, vol. 50(10), pages 2118-2135, August.
    13. Gabaix, Xavier & Ioannides, Yannis M., 2004. "The evolution of city size distributions," Handbook of Regional and Urban Economics, in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 53, pages 2341-2378, Elsevier.
    14. Tomoya Mori & Koji Nishikimi & Tony E. Smith, 2002. "Some Empirical Regularities of Spatial Economies: A Relationship between Industrial Location and City Size," KIER Working Papers 551, Kyoto University, Institute of Economic Research.
    15. James R. Fain, 2017. "City formation with complex landscapes," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 24(4), pages 125-137, October.
    16. Valente J. Matlaba & Mark J. Holmes & Philip McCann & Jacques Poot, 2013. "A Century Of The Evolution Of The Urban System In Brazil," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 25(3), pages 129-151, November.
    17. Rafael González-Val, 2019. "US city-size distribution and space," Spatial Economic Analysis, Taylor & Francis Journals, vol. 14(3), pages 283-300, July.
    18. Clémentine Cottineau, 2017. "MetaZipf. A dynamic meta-analysis of city size distributions," PLOS ONE, Public Library of Science, vol. 12(8), pages 1-22, August.
    19. repec:wyi:journl:002175 is not listed on IDEAS
    20. repec:ilo:ilowps:366690 is not listed on IDEAS
    21. Janvier D. Nkurunziza, 2005. "Reputation and Credit without Collateral in Africa`s Formal Banking," Economics Series Working Papers WPS/2005-02, University of Oxford, Department of Economics.
    22. Yanting Tang & Jinlong Gao & Wen Chen, 2022. "The Spatial-Temporal Evolution of Population in the Yangtze River Delta, China: An Urban Hierarchy Perspective," Land, MDPI, vol. 11(10), pages 1-15, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:inrsre:v:27:y:2004:i:4:p:411-430. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.