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Les places financières : désintégration, suburbanisation et spécialisation

Author

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  • Gunther Capelle-Blancard
  • Yamina Tadjeddine

Abstract

[eng] The financial markets : breaking-up, suburbanisation and specialisation . The traditional image of a financial market is of a geographically united whole. However, the development of IT and communication technologies has led to a vertical separation of financial activities. The main result of this has been the relocation of activities from the city centres to the outskirts. This suburbanisation can be seen as the initial indicator of a more widespread relocation of financial activities - at least for the most standardised operations. In addition, the number of specialised financial markets in Europe is expected to increase, mirroring the US. It is unlikely that the Paris market will disappear on this account, but the more pertinent question is what does the future hold for activities based in Paris, and, on a larger scale, in the Ile-de-France area. . JEL classification : G10, G20, R12 [fre] Le concept de place financière renvoie traditionnellement à un ensemble géographiquement intégré. Mais le développement des nouvelles technologies de l’information et de la communication a eu pour conséquence une désintégration verticale des activités financières. Ceci provoque, notamment, un déplacement des activités du coeur historique des grandes villes vers la périphérie. Ce phénomène de suburbanisation peut être considéré comme annonciateur d’un mouvement plus profond de délocalisation des activités financières - au moins pour ce qui est des activités les plus standardisées. Par ailleurs, en Europe, on devrait voir apparaître de plus en plus des places financières spécialisées, comme aux États-Unis. Il est à cet égard peu probable que la place financière de Paris disparaisse. La question est plutôt de savoir quelles seront à l’avenir les activités localisées à Paris et, plus largement, en Île-de-France. . Classification JEL : G10, G20, R12

Suggested Citation

  • Gunther Capelle-Blancard & Yamina Tadjeddine, 2007. "Les places financières : désintégration, suburbanisation et spécialisation," Revue d'Économie Financière, Programme National Persée, vol. 90(4), pages 93-115.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2007_num_90_4_4405
    DOI: 10.3406/ecofi.2007.4405
    Note: DOI:10.3406/ecofi.2007.4405
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    References listed on IDEAS

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    Cited by:

    1. Gunther Capelle-Blancard & Yamina Tadjeddine, 2009. "The Location of Financial Activities: the Impact of New Technologies and the Financial Crisis," Working Papers hal-04140868, HAL.

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    More about this item

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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