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Analysing the Changing Landscape of European Financial Centres: The Role of Financial Products and the Case of Amsterdam

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  • JAMES FAULCONBRIDGE
  • EWALD ENGELEN
  • MICHAEL HOYLER
  • JONATHAN BEAVERSTOCK

Abstract

The turn of the twenty-first century saw the re-emergence of debates about the reconfiguration of European financial geographies and the role of stock exchange mergers in this process. There has been, however, no systematic attempt to date to analyse such changes. This paper proposes a specific conceptual framework to explore these issues. It uses a product-based analysis to examine, in the context of recent stock exchange mergers, the factors affecting the competitiveness of a financial centre. It argues that it is important to understand three intertwined influences-product complementarities, the nature of local epistemic communities, and regulation-and their contingent effects on change. This is exemplified by a tentative application of the framework to the case of Amsterdam in order to better understand its recent decline in competitiveness as a European financial centre. Copyright 2007 Blackwell Publishing.

Suggested Citation

  • 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, Wiley Blackwell, vol. 38(2), pages 279-303.
  • Handle: RePEc:bla:growch:v:38:y:2007:i:2:p:279-303
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    References listed on IDEAS

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    1. Daniel Beunza Ibáñez & Raghu Garud, 2004. "Security analysts as frame-makers," Economics Working Papers 733, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2005.
    2. Clark, Gordon L., 2003. "European Pensions & Global Finance," OUP Catalogue, Oxford University Press, number 9780199253647.
    3. Lütz, Susanne, 2002. "Der Staat und die Globalisierung von Finanzmärkten: Regulative Politik in Deutschland, Großbritannien und den USA," Schriften aus dem Max-Planck-Institut für Gesellschaftsforschung Köln, Max Planck Institute for the Study of Societies, volume 43, number 43.
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    Cited by:

    1. Peter J. Taylor & Ben Derudder & James Faulconbridge & Michael Hoyler & Pengfei Ni, 2014. "Advanced Producer Service Firms as Strategic Networks, Global Cities as Strategic Places," Economic Geography, Clark University, vol. 90(3), pages 267-291, July.
    2. Nielsson, Ulf, 2009. "Stock exchange merger and liquidity: The case of Euronext," Journal of Financial Markets, Elsevier, vol. 12(2), pages 229-267, May.
    3. repec:bla:growch:v:47:y:2016:i:4:p:572-595 is not listed on IDEAS
    4. Bas Karreman, 2009. "Financial Geographies And Emerging Markets In Europe," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 100(2), pages 260-266, April.
    5. Gordon L. Clark, 2016. "The Components of Talent: Company Size and Financial Centres in the European Investment Management Industry," Regional Studies, Taylor & Francis Journals, vol. 50(1), pages 168-181, January.
    6. Du, Huibin & Xia, Qiongqiong & Ma, Xuan & Chai, Lihe, 2014. "A new statistical dynamic analysis of ecological niches for China’s financial centres," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 395(C), pages 476-486.
    7. Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
    8. Antonella Magliocco & Giacomo Ricotti, 2013. "The new framework for the taxation of venture capital in Italy," Questioni di Economia e Finanza (Occasional Papers) 167, Bank of Italy, Economic Research and International Relations Area.
    9. Valérie Revest & Sandro Sapio, 2008. "Financing Technology-Based Small Firms in Europe: a review of the empirical evidence," LEM Papers Series 2008/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    10. Seo, Bongman, 2011. "Geographies of Finance : Centers, Flows, and Relations," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 52(1), pages 69-86, June.
    11. repec:bla:growch:v:47:y:2016:i:4:p:520-534 is not listed on IDEAS

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