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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

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.

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, June.
    • Handle: RePEc:bla:growch:v:38:y:2007:i:2:p:279-303
    DOI: 10.1111/j.1468-2257.2007.00367.x
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    References listed on IDEAS

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    2. 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.
    3. James R Faulconbridge & Sarah Hall, 2014. "Reproducing the City of London's Institutional Landscape: The Role of Education and the Learning of Situated Practices by Early Career Elites," Environment and Planning A, , vol. 46(7), pages 1682-1698, July.
    4. 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.
    5. Nielsson, Ulf, 2009. "Stock exchange merger and liquidity: The case of Euronext," Journal of Financial Markets, Elsevier, vol. 12(2), pages 229-267, May.
    6. David R. Meyer, 2016. "Shenzhen in China's Financial Center Networks," Growth and Change, Wiley Blackwell, vol. 47(4), pages 572-595, December.
    7. 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.
    8. Marta Degl'Innocenti & Roman Matousek & Nickolaos G Tzeremes, 2018. "Financial centres' competitiveness and economic convergence: Evidence from the European Union regions," Environment and Planning A, , vol. 50(1), pages 133-156, February.
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    10. 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.
    11. 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.
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    13. Jonathan Beaverstock & Adam Leaver & Daniel Tischer, 2023. "How financial products organize spatial networks: Analyzing collateralized debt obligations and collateralized loan obligations as “networked productsâ€," Environment and Planning A, , vol. 55(4), pages 969-996, June.
    14. Seo, Bongman, 2011. "Geographies of Finance : Centers, Flows, and Relations," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 52(1), pages 69-86, June.
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