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The post crisis Transition: Towards new investment circuits ?

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Abstract

The recent Global financial crisis has marked an unprecedented separation between finance and real economy. This paper deals with the question of today’s transition within finance geography. It focuses on the transition process of the Swiss financial system after 2008 from institutional and territorial perspective. More specifically, this study investigates new investment circuits in Switzerland and attempts to understand to which extent they are connected to entrepreneurial activities at local and regional levels. Our main findings highlight that the Swiss case shows two opposite movements: “from the top”, i.e. Swiss pension fund sector and “from below”, i.e. regional private entrepreneurial investors. We will finally demonstrate that, because of the specific institutional framework, the current transition process in Switzerland is more likely to be driven by small regional actors, rather than by large institutional investors.

Suggested Citation

  • Victoriya Salomon & Thierry Theurillat & Olivier Crevoisier, 2013. "The post crisis Transition: Towards new investment circuits ?," GRET Publications and Working Papers 09-13, GRET Group of Research in Territorial Economy, University of Neuchâtel.
  • Handle: RePEc:nct:wpaper:09-13
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    References listed on IDEAS

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    1. Alain Berset & Olivier Crevoisier, 2007. "Circulation of Competencies and Dynamics of Regional Production Systems," GRET Publications and Working Papers 08-07, GRET Group of Research in Territorial Economy, University of Neuchâtel.
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    4. Olivier Crevoisier, 2004. "The Innovative Milieus Approach: Toward a Territorialized Understanding of the Economy?," GRET Publications and Working Papers 10-04, GRET Group of Research in Territorial Economy, University of Neuchâtel.
    5. Arnoud Lagendijk, 2006. "Learning from conceptual flow in regional studies: Framing present debates, unbracketing past debates," Regional Studies, Taylor & Francis Journals, vol. 40(4), pages 385-399.
    6. Stephen Gourlay, 2006. "Conceptualizing Knowledge Creation: A Critique of Nonaka's Theory," Journal of Management Studies, Wiley Blackwell, vol. 43(7), pages 1415-1436, November.
    7. Olivier Crevoisier & Hugues Jeannerat, 2009. "Territorial Knowledge Dynamics: From the Proximity Paradigm to Multi-location Milieus," European Planning Studies, Taylor & Francis Journals, vol. 17(8), pages 1223-1241, August.
    8. Frank Moulaert & Farid Sekia, 2003. "Territorial Innovation Models: A Critical Survey," Regional Studies, Taylor & Francis Journals, vol. 37(3), pages 289-302.
    9. Philip Cooke, 2008. "Regional innovation systems: origin of the species," International Journal of Technological Learning, Innovation and Development, Inderscience Enterprises Ltd, vol. 1(3), pages 393-409.
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    More about this item

    Keywords

    Transition Investment circuits; Pension funds; Private investors; Intermediary platforms;

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913
    • N94 - Economic History - - Regional and Urban History - - - Europe: 1913-
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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