City of London - A Financial Services Cluster Analysis

Cristina Porumboiu (), Cristina-Elena Balaceanu, Monica Dobrescu and Alexander Cutuca
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Cristina Porumboiu: Department of International Economics and Business, Bucharest University of Economic Studies
Cristina-Elena Balaceanu: Department of International Economics and Business, Bucharest University of Economic Studies
Monica Dobrescu: Department of International Economics and Business, Bucharest University of Economic Studies
Alexander Cutuca: Department of International Economics and Business, Bucharest University of Economic Studies

No 8, Working Papers from Bucharest Academy of Economic Studies, Research Center in International Business and Economics (RCIBE)

Abstract: The United Kingdom, important commercial and economic power starting from the early times, is the place where the financial services were developed. Nowadays, the City of London is one of the leading financial clusters, especially for the over-the-counter transactions. The underlying factors that led this financial cluster to become one of the most important financial centres in the world are strongly correlated with the country’s economy and its political power starting with the early 19th century. Its dominance as a global financial centre is reflected by its large concentration of financial services expertise and a highly trained, multilingual workforce. Considering the latest events from the United Kingdom, the current situation of Brexit will definitely have an impact on its global position, and through an analysis of rising issues some recommendations can be delivered with respect to the this situation: threat or opportunity for the City of London.

Keywords: finance; services; cluster Brexit; City; competitiveness (search for similar items in EconPapers)
JEL-codes: O16 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2017-09
New Economics Papers: this item is included in nep-his and nep-pay
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Published in CCREI Working Papers Series, September 2017

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Persistent link: https://EconPapers.repec.org/RePEc:bus:wpaper:8

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