This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Financial centres in peripheral regions: the effect of the financial services industry on regional economy - the case of the Scottish Financial cluster

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Mikel Larreina

Additional information is available for the following registered author(s):

Abstract

In recent times the financial services industry has experienced a major transformation, in which markets and players have been globalised and consolidated. Certain financial centres have concentrated on financial firms and markets, engendering considerable research on the foundations of their pre-eminence. Nevertheless, the growth of financial centres in peripheral regions has not been conveniently analysed, despite the fact that financial activity may play a major role in some economies. This paper provides a thorough survey of state-of-the-art literature, both on the transformation of the financial marketplace, and on the rise of global financial centres, devoting especial attention to the appearance of peripheral financial centres. The Scottish case is studied, among other aspects, through the use of Input-Output multipliers, to determine the dramatic role financial services have to play in this region’s economy. This approach advanced may be adapted to other locations, to help to assess the specific impact of financial centres and to draw attention to possible problems arising from overdependence on their activity.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.st-andrews.ac.uk/crieff/papers/dp0805.pdf
File Format: application/pdf
File Function:
Download Restriction: no

Publisher Info
Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 0805.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: Jun 2008
Date of revision:
Handle: RePEc:san:crieff:0805

Contact details of provider:
Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL
Phone: 01334 462420
Web page: http://www.st-and.ac.uk/%7Ewww_crieff/discpaps.html

For technical questions regarding this item, or to correct its listing, contact: (Tatiana Damjanovic).

Related research
Keywords: Financial centres; Scotland; financial cluster; Input-Output; regional economy.;

Find related papers by JEL classification:
R11 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Analysis of Growth, Development, and Changes
R15 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
G29 - Financial Economics - - Financial Institutions and Services - - - Other

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Akhigbe, Aigbe & McNulty, James E., 2003. "The profit efficiency of small US commercial banks," Journal of Banking & Finance, Elsevier, vol. 27(2), pages 307-325, February. [Downloadable!] (restricted)
  2. Neil Wrigley & Andrew Currah & Steve Wood, 2003. "Investment bank analysts and knowledge in economic geography," Environment and Planning A, Pion Ltd, London, vol. 35(3), pages 381-387, March. [Downloadable!] (restricted)
  3. Naresh R. Pandit & Gary A. S. Cook & G. M. P. Swann, 2002. "A Comparison of Clustering Dynamics in the British Broadcasting and Financial Services Industries," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 9(2), pages 195-224, July. [Downloadable!] (restricted)
  4. Berger, Allen N. & Demsetz, Rebecca S. & Strahan, Philip E., 1999. "The consolidation of the financial services industry: Causes, consequences, and implications for the future," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 135-194, February. [Downloadable!] (restricted)
    Other versions:
  5. Bertrand, Raymond, 1969. "Prospects for Integration of European Capital Markets: A Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(3), pages 347-49, August. [Downloadable!] (restricted)
  6. Gary A. S. Cook & Naresh R. Pandit & Jonathan V. Beaverstock & Peter J. Taylor & Kathy Pain, 2004. "The Clustering of Financial Services in London," ERSA conference papers ersa04p49, European Regional Science Association. [Downloadable!]
  7. Linda S. Goldberg, 2007. "Financial sector FDI and host countries: new and old lessons," Economic Policy Review, Federal Reserve Bank of New York, issue Mar, pages 1-17. [Downloadable!]
    Other versions:
  8. Chemmanur, Thomas J. & Wilhelm, William Jr., 2002. "New Technologies, Financial Innovation, and Intermediation," Journal of Financial Intermediation, Elsevier, vol. 11(1), pages 2-8, January. [Downloadable!] (restricted)
  9. Jacob Bikker & Jaap Bos, 2004. "Trends in Competition and Profitability in the Banking Industry: A Basic Framework," DNB Working Papers 018, Netherlands Central Bank, Research Department. [Downloadable!]
    Other versions:
  10. Moshirian, Fariborz, 2007. "Global financial services and a global single currency," Journal of Banking & Finance, Elsevier, vol. 31(1), pages 3-9, January. [Downloadable!] (restricted)
  11. Casu, Barbara & Girardone, Claudia & Molyneux, Philip, 2004. "Productivity change in European banking: A comparison of parametric and non-parametric approaches," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2521-2540, October. [Downloadable!] (restricted)
  12. Moshirian, Fariborz, 2006. "Aspects of international financial services," Journal of Banking & Finance, Elsevier, vol. 30(4), pages 1057-1064, April. [Downloadable!] (restricted)
  13. Moshirian, Fariborz & Szego, Giorgio, 2003. "Markets and institutions: Global perspectives," Journal of Banking & Finance, Elsevier, vol. 27(6), pages 1213-1218, June. [Downloadable!] (restricted)
  14. Berger, Allen N. & Clarke, George R.G. & Cull, Robert & Klapper, Leora & Udell, Gregory F., 2005. "Corporate governance and bank performance: A joint analysis of the static, selection, and dynamic effects of domestic, foreign, and state ownership," Journal of Banking & Finance, Elsevier, vol. 29(8-9), pages 2179-2221, August. [Downloadable!] (restricted)
    Other versions:
  15. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-37, May. [Downloadable!] (restricted)
  16. Nicola Cetorelli & Beverly Hirtle & Donald Morgan & Stavros Peristiani & João Santos, 2007. "Trends in financial market concentration and their implications for market stability," Economic Policy Review, Federal Reserve Bank of New York, issue Mar, pages 33-51. [Downloadable!]
  17. Bos, Jaap W.B. & Knot, Klaas H.W. & Kool, Clemens J.M., 2006. "Banking and finance in an integrating Europe," Journal of Banking & Finance, Elsevier, vol. 30(7), pages 1835-1837, July. [Downloadable!] (restricted)
  18. Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2006. "Bank concentration, competition, and crises: First results," Journal of Banking & Finance, Elsevier, vol. 30(5), pages 1581-1603, May. [Downloadable!] (restricted)
  19. Donghui Li & Fariborz Moshirian & Ah-Boon Sim, 2003. "The Determinants of Intra-Industry Trade in Insurance Services," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(2), pages 269-287. [Downloadable!] (restricted)
  20. James Faulconbridge & Ewald Engelen & Michael Hoyler & Jonathan Beaverstock, 2007. "Analysing the Changing Landscape of European Financial Centres: The Role of Financial Products and the Case of Amsterdam," Growth and Change, Gatton College of Business and Economics, University of Kentucky, vol. 38(2), pages 279-303. [Downloadable!] (restricted)
  21. Hughes, Joseph P. & Lang, William W. & Mester, Loretta J. & Moon, Choon-Geol, 1999. "The dollars and sense of bank consolidation," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 291-324, February. [Downloadable!] (restricted)
    Other versions:
  22. Moshirian, Fariborz & Szego, Giorgio, 2003. "Markets and institutions: Global perspectives," Journal of Banking & Finance, Elsevier, vol. 27(3), pages 377-381, March. [Downloadable!] (restricted)
  23. Laetitia Lepetit & Stéphanie Patry & Philippe Rous, 2004. "Diversification versus specialization: an event study of M&As in the European banking industry," Applied Financial Economics, Taylor and Francis Journals, vol. 14(9), pages 663-669, June. [Downloadable!] (restricted)
  24. Micco, Alejandro & Panizza, Ugo & Yanez, Monica, 2007. "Bank ownership and performance. Does politics matter?," Journal of Banking & Finance, Elsevier, vol. 31(1), pages 219-241, January. [Downloadable!] (restricted)
    Other versions:
  25. Bayraktar, Nihal & Wang, Yan, 2006. "Banking sector openness and economic growth," Policy Research Working Paper Series 4019, The World Bank. [Downloadable!]
  26. Bartram, Sohnke M. & Taylor, Stephen J. & Wang, Yaw-Huei, 2007. "The Euro and European financial market dependence," Journal of Banking & Finance, Elsevier, vol. 31(5), pages 1461-1481, May. [Downloadable!] (restricted)
Full references

Statistics
Access and download statistics

Did you know? Want to help out with this project? Look for volunteer opportunities.

This page was last updated on 2009-11-24.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.