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City of London - A Financial Services Cluster Analysis

Author

Listed:
  • Cristina Porumboiu

    (Department of International Economics and Business, Bucharest University of Economic Studies)

  • Cristina-Elena Balaceanu

    (Department of International Economics and Business, Bucharest University of Economic Studies)

  • Monica Dobrescu

    (Department of International Economics and Business, Bucharest University of Economic Studies)

  • Alexander Cutuca

    (Department of International Economics and Business, Bucharest University of Economic Studies)

Abstract

The United Kingdom, important commercial and economic power starting from the early times, is the place where the financial services were developed. Nowadays, the City of London is one of the leading financial clusters, especially for the over-the-counter transactions. The underlying factors that led this financial cluster to become one of the most important financial centres in the world are strongly correlated with the country’s economy and its political power starting with the early 19th century. Its dominance as a global financial centre is reflected by its large concentration of financial services expertise and a highly trained, multilingual workforce. Considering the latest events from the United Kingdom, the current situation of Brexit will definitely have an impact on its global position, and through an analysis of rising issues some recommendations can be delivered with respect to the this situation: threat or opportunity for the City of London.

Suggested Citation

  • Cristina Porumboiu & Cristina-Elena Balaceanu & Monica Dobrescu & Alexander Cutuca, 2017. "City of London - A Financial Services Cluster Analysis," Working Papers 8, Bucharest Academy of Economic Studies, Research Center in International Business and Economics (RCIBE).
    • Handle: RePEc:bus:wpaper:8
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    File URL: http://www.rei.cercetare.ase.ro/WP/Archive/CCREI_8.pdf
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    More about this item

    Keywords

    finance; services; cluster Brexit; City; competitiveness;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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