The Competitiveness of European International Financial Centres

Jean-Paul Abraham, Nadia Bervaes and Anne Guinotte

Chapter Chapter 12 in The Changing Face of European Banks and Securities Market, 1994, pp 229-277 from Palgrave Macmillan

Abstract: Abstract In the last decades, progress in transport technology, telecommunications and data processing has heavily stimulated the worldwide dispersion of financial operations. Given the necessary equipment and decision-making power, the dealer in a remote office can trade with his colleagues all over the world through the SWIFT system and other systems of telecommunication. In spite of these worldwide professional ‘home banking’ opportunities, financial activities tend to remain geographically concentrated in some areas and places, old and new. When transactions with overseas – with and among non-residents – are important in these places, we call them international financial centres (IFCs). Their activity adds an international, geographical and institutional dimension to financial activity, which we will try to discuss in this paper.

Keywords: Financial Market; Stock Exchange; Foreign Capital; Financial Activity; Foreign Asset (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23141-6_12

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DOI: 10.1007/978-1-349-23141-6_12

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