Projects per year
Abstract
Drawing on conceptual research exploring how evolving geographies of finance inform urban and regional change, we examine the size and functional scope of the presence of leading global banks across functional urban areas in Europe. Based on data for 100 major global banks, we find that their overall presence is proportional to (the square root of) the national gross domestic product. London and Luxembourg host far more banks than can be explained by their national gross domestic product, which can be traced back to their export of banking services. We also analyze the geographies of specialized banking services per city. Corporate and investment banking are mainly explained by national gross domestic product, with London emerging as the most prominent center. Private banking and securities services, in turn, are largely independent of national gross domestic product and rely on the importance of small and specialized economies such as Luxembourg and St Helier (Jersey). The stability of Europe’s banking centers is underpinned by their role as the national banking center and/or their specialization in international banking services, as well as manifested in specialized subnetworks of financial centers.
Original language | English |
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Pages (from-to) | 446-464 |
Number of pages | 19 |
Journal | European Urban and Regional Studies |
Volume | 30 |
Issue number | 4 |
Early online date | 15 Mar 2023 |
DOIs | |
Publication status | Published - Oct 2023 |
Bibliographical note
Funding Information:The author(s) disclosed receipt of the following financial support for the research, authorship, and/or publication of this article: The research leading to this paper received grant funding (G0A9617N) from both the Flemish Fund for Scientific Research (FWO) and the Luxembourg National Research Fund (FNR).
Keywords
- Banking centers
- Europe
- financial centers
- London
- Luxembourg
Projects
- 1 Finished
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FINWEBS: Stabilising an unstable industry: The role of agency in interconnecting international financial centers
Dörry, S. (PI), Robinson, G. (CoI) & Derudder, B. (Host Institution)
Luxembourg Institute of Socio-Economic Research (LISER), Fonds National de la Recherche Luxembourg
1/09/17 → 31/12/22
Project: Research
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Global networks of money and information at the crossroads: Correspondent banking and SWIFT
Robinson, G., Dörry, S. & Derudder, B., Apr 2023, In: Global Networks. 23, 2, p. 478-493 16 p.Research output: Contribution to journal › Article › peer-review
Open AccessFile208 Downloads (Pure) -
Luxembourg and Ireland in global financial networks: Analysing the changing structure of European investment funds
Wójcik, D., Urban, M. & Dörry, S., Jun 2022, In: Transactions of the Institute of British Geographers. 47, 2, p. 514-528Research output: Contribution to journal › Article › peer-review
Open Access -
The dark side of innovation in financial centres: legal designs and territorialities of law
Dörry, S., 4 Sept 2022, (E-pub ahead of print) In: Regional Studies. p. 1-12Research output: Contribution to journal › Article › peer-review
Open AccessFile175 Downloads (Pure) -
The Geoeconomics of Chinese Bank Expansion into the European Union
Balmas, P. & Dörry, S., 14 Oct 2022, (E-pub ahead of print) The Political Economy of Geoeconomics: Europe in a Changing World. Babić, M., Dixon, A. D. & Liu, I. T. (eds.). Palgrave Macmillan, p. 161–185 24 p. (International Political Economy Series (IPES)).Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review
Open AccessFile159 Downloads (Pure) -
Will Brexit reverse the centralizing momentum of global finance?
Dörry, S. & Dymski, G., 21 Feb 2018, (E-pub ahead of print) In: Geoforum. 125, p. 199-200Research output: Contribution to journal › Article › peer-review