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A value chain approach to financial centres – The case of Frankfurt

Author

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  • Michael H. Grote
  • Vivien Lo
  • Sofia Harrschar–Ehrnborg

Abstract

This paper uses a value chain approach to identify possible patterns of spatial (re)organisation resulting from the implementation of information and communication technologies (ICT) in wholesale financial services. Although ICT can be used to split up production processes and thus increase mobility, proximity – not only spatial but also cultural, organisational and professional – remains essential for the financial industry. Thus, while ICT may induce a ‘re–bundling’ of functions among financial centres, location continues to be a relevant factor. An analysis of the value chains of three financial products is presented with a focus on implications for the financial centre in Frankfurt. Frankfurt is a particularly interesting case study of this phenomenon as it is one of the centres for the development of ‘financial technology’, such as computer–based trading systems with remote access.

Suggested Citation

  • Michael H. Grote & Vivien Lo & Sofia Harrschar–Ehrnborg, 2002. "A value chain approach to financial centres – The case of Frankfurt," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 93(4), pages 412-423, September.
    • Handle: RePEc:bla:tvecsg:v:93:y:2002:i:4:p:412-423
    DOI: 10.1111/1467-9663.00213
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    Cited by:

    1. Grote, Michael H. & Täube, Florian A., 2007. "When outsourcing is not an option: International relocation of investment bank research -- Or isn't it?," Journal of International Management, Elsevier, vol. 13(1), pages 57-77, March.
    2. Matthew Zook & Michael H Grote, 2017. "The microgeographies of global finance: High-frequency trading and the construction of information inequality," Environment and Planning A, , vol. 49(1), pages 121-140, January.
    3. 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.
    4. Christian Kruse, 2003. "When form follows function ? Financial centres as starting points for researching the interrelationship of financial intermediaries and the management of firms," ERSA conference papers ersa03p486, European Regional Science Association.
    5. Norberg, Peter, 2003. "From Periphery to Financial Centre," SSE/EFI Working Paper Series in Business Administration 2003:11, Stockholm School of Economics, revised 13 Dec 2005.
    6. Sang-Rim Choi & Daekeun Park & Adrian Tschoegl, 2003. "Banks and the world’s major banking centers, 2000," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 139(3), pages 550-568, September.
    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. Morag I. Torrance, 2008. "Forging Glocal Governance? Urban Infrastructures as Networked Financial Products," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 32(1), pages 1-21, March.
    9. Florian Arun Taeube, 2004. "Proximities and Innovation Evidence from the Indian IT Industry in Bangalore," DRUID Working Papers 04-10, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    10. Boerdlein, Ruth Maria, 2002. "Stock exchanges and regional competitiveness: the case of small German exchanges," ERSA conference papers ersa02p052, European Regional Science Association.

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