Increased Capital Mobility/Liquidity and its Repercussions at Regional Level
The most significant structural change undergone by the British and Swiss economies during the past 25 years (1975-2000) is indisputably the development of their financial systems. From this point of view, the two countries show a number of similarities: the presence of one or more international financial place(s), large enterprises which expanded greatly on the international front during that period, the decline of their industrial regions, a monetarist-type monetary policy that involved floating their currency on the external market, a more or less enthusiastic policy of liberalizing their financial markets, etc. In these two countries, the development of international financial centres and the decline of the industrial regions took place in parallel. The question that remains is: are these developments linked? There have been many studies dealing with the relationship between finance and industry. But this article is original in that it approaches the question principally from the spatial angle (by contrasting the evolution of the financial centres with that of the other regions) and from the sectoral angle (by making a distinction between finance and the industrial activities).
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|Date of creation:||Oct 2005|
|Date of revision:|
|Publication status:||Published in European Urban and Regional Studies, October 2005, volume 12, Issue 4, 315-334|
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- Eric Nasica, 1997. "Comportements bancaires et fluctuations économiques: l'apport fondamental d'H.P. Minsky à la théorie des cycles endogènes et financiers," Post-Print halshs-00466545, HAL.
- José Corpataux & Olivier Crevoisier & Alain Thierstein, 2002.
"Exchange Rate and Regional Divergences: The Swiss Case,"
GRET Publications and Working Papers
08-02, GRET Group of Research in Territorial Economy, University of Neuchâtel.
- Jose Corpataux & Olivier Crevoisier & Alain Thierstein, 2002. "Exchange Rate and Regional Divergences: The Swiss Case," Regional Studies, Taylor & Francis Journals, vol. 36(6), pages 611-626.
- Corpataux, José & Crevoisier, Olivier & Thierstein, Alain, 2000. "Exchange Rate And Regional Divergences : The Swiss Case," ERSA conference papers ersa00p340, European Regional Science Association.
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