Global Finance in Transition: Competing Financial Centers

Mehmed Ganić ()
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Mehmed Ganić: International University of Sarajevo

Chapter 2 in Structural Change and Competitive Dynamics in Global Financial Markets, 2026, pp 7-24 from Springer

Abstract: Abstract This chapter considers the development of IFCs and the transformation of the global financial geography by macroeconomic developments. Special focus is given to the growing power of the Asian world and the switch in the balance between conventional Western centers and newcomers. Also, the chapter centers on the multifaceted dynamics of international finance in three interacting aspects, namely, the evolution and operation of capital markets, the alteration of the competitive stance of major financial centers, and their capacity or inability to react to the current crisis. Data on debt market development, regional sector analysis, and OTC foreign exchange trading will illustrate the changes.

Keywords: Capital market development; International financial centers (IFCs); Global financial geography; OTC foreign exchange trading; Western vs. Asian financial hubs (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-28906-3_2

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DOI: 10.1007/978-3-032-28906-3_2

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