Global production networks in finance: The example of Luxembourg's investment fund industry

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Abstract

The financial industry has been subject to manifold debates and new regulations, all inextricably linked to the events related to the global financial crisis of 2008. International financial centres, with their sophisticated infrastructure and enormous resources, co-ordinate global capital and information flows. The academic literature, however, has remained remarkably silent not only on the international financial centres’ roles within the crisis-prone global financial economy but also about their own endeavours for growth. Assuming that global finance is an aggregation of numerous local practices and dynamics (Sassen, 2010), it is these localised practices and dynamics which seem to be essential for grasping the global interplay of financial forces. However, these claims have yet to be investigated through empirical research. Therefore, this paper suggests a more rigorous analysis of “what is going on” in such clustered economies of finance. (...)
Original languageEnglish
Pages (from-to)227-239
JournalL'Espace géographique
Volume2014
Issue number3
DOIs
Publication statusPublished - 2014

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