Assessing the Competitiveness of International Financial Services in Particular Locations: A Survey of Methods and Perspectives

George von Furstenberg

No 2007-024, CAEPR Working Papers from Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington

Abstract: The International Financial Services (IFS) industry is restructuring internally and by location. This paper outlines the economic forces and analytical methods that may be applied to examine the economic drivers of these processes as ever more cities, particularly in East Asia, are vying to attract IFS providers and their clients. The ICT revolution has made those IFS that can be commoditized footloose in search of cost efficiency. High value-added financial services, however, will continue to be developed and coordinated in a few major IFS centers that have invested in, or capitalized on, regional or global advantages for themselves and their clients. The resulting pattern of functional fragmentation and geographic dispersal may facilitate analyses of the competitiveness of different lines of the financial services business in a particular location by methods such as Data Envelopment and Stochastic Frontier Analysis. These forms of comparative efficiency analysis have recently been questioned and their results reinterpreted.

Keywords: offshore centers; international financial services; Data Envelopment Analysis; Stochastic Frontier Analysis (search for similar items in EconPapers)
JEL-codes: E44 F30 G20 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2007-11
New Economics Papers: this item is included in nep-cse, nep-eff and nep-sea
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