 COVID‐19 and Finance: Market Developments So Far and Potential Impacts on the Financial Sector and CentresDariusz Wójcik and Stefanos Ioannou Tijdschrift voor Economische en Sociale Geografie, 2020, vol. 111, issue 3, 387-400 Abstract: This paper offers an informed commentary on the actual and potential impacts of the pandemic on financial markets, sector and centres, grounded in literature on financial centres, the state‐finance nexus, and trends affecting the landscape of finance since the global financial crisis. We expect a slowdown in new financial regulation, continued firm‐level consolidation, and a continued rise of business services related to finance. The application of new financial technologies is likely to accelerate, affecting retail banking in particular, but will not necessarily be led by FinTech firms. Local and regional financial centres are likely to face larger challenges than leading international centres. As the panic and partial recovery in financial markets in March and April 2020 highlighted the significance of the international monetary hierarchy, with the US$ in the lead, a radical shift of financial power to Asia seems unlikely. Date: 2020 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:tvecsg:v:111:y:2020:i:3:p:387-400 Ordering information: This journal article can be ordered from Access Statistics for this article Tijdschrift voor Economische en Sociale Geografie is currently edited by Jan van Weesep More articles in Tijdschrift voor Economische en Sociale Geografie from Royal Dutch Geographical Society KNAG |
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