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Analysing the Changing Landscape of European Financial Centres: The Role of Financial Products and the Case of Amsterdam

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  • JAMES FAULCONBRIDGE
  • EWALD ENGELEN
  • MICHAEL HOYLER
  • JONATHAN BEAVERSTOCK

Abstract

ABSTRACT The turn of the twenty‐first century saw the re‐emergence of debates about the reconfiguration of European financial geographies and the role of stock exchange mergers in this process. There has been, however, no systematic attempt to date to analyse such changes. This paper proposes a specific conceptual framework to explore these issues. It uses a product‐based analysis to examine, in the context of recent stock exchange mergers, the factors affecting the competitiveness of a financial centre. It argues that it is important to understand three intertwined influences—product complementarities, the nature of local epistemic communities, and regulation—and their contingent effects on change. This is exemplified by a tentative application of the framework to the case of Amsterdam in order to better understand its recent decline in competitiveness as a European financial centre.

Suggested Citation

  • James Faulconbridge & Ewald Engelen & Michael Hoyler & Jonathan Beaverstock, 2007. "Analysing the Changing Landscape of European Financial Centres: The Role of Financial Products and the Case of Amsterdam," Growth and Change, Wiley Blackwell, vol. 38(2), pages 279-303, June.
    • Handle: RePEc:bla:growch:v:38:y:2007:i:2:p:279-303
    DOI: 10.1111/j.1468-2257.2007.00367.x
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    References listed on IDEAS

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    Cited by:

    1. Marta Degl'Innocenti & Roman Matousek & Nickolaos G Tzeremes, 2018. "Financial centres' competitiveness and economic convergence: Evidence from the European Union regions," Environment and Planning A, , vol. 50(1), pages 133-156, February.
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    3. Peter J. Taylor & Ben Derudder & James Faulconbridge & Michael Hoyler & Pengfei Ni, 2014. "Advanced Producer Service Firms as Strategic Networks, Global Cities as Strategic Places," Economic Geography, Clark University, vol. 90(3), pages 267-291, July.
    4. Gordon L Clark & Ashby H B Monk, 2014. "The Geography of Investment Management Contracts: The UK, Europe, and the Global Financial Services Industry," Environment and Planning A, , vol. 46(3), pages 531-549, March.
    5. Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
    6. Nielsson, Ulf, 2009. "Stock exchange merger and liquidity: The case of Euronext," Journal of Financial Markets, Elsevier, vol. 12(2), pages 229-267, May.
    7. David R. Meyer, 2016. "Shenzhen in China's Financial Center Networks," Growth and Change, Wiley Blackwell, vol. 47(4), pages 572-595, December.
    8. Antonella Magliocco & Giacomo Ricotti, 2013. "The new framework for the taxation of venture capital in Italy," Questioni di Economia e Finanza (Occasional Papers) 167, Bank of Italy, Economic Research and International Relations Area.
    9. Jonathan Beaverstock & Adam Leaver & Daniel Tischer, 2023. "How financial products organize spatial networks: Analyzing collateralized debt obligations and collateralized loan obligations as “networked productsâ€," Environment and Planning A, , vol. 55(4), pages 969-996, June.
    10. James R Faulconbridge & Sarah Hall, 2014. "Reproducing the City of London's Institutional Landscape: The Role of Education and the Learning of Situated Practices by Early Career Elites," Environment and Planning A, , vol. 46(7), pages 1682-1698, July.
    11. Bas Karreman, 2009. "Financial Geographies And Emerging Markets In Europe," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 100(2), pages 260-266, April.
    12. Gordon L. Clark, 2016. "The Components of Talent: Company Size and Financial Centres in the European Investment Management Industry," Regional Studies, Taylor & Francis Journals, vol. 50(1), pages 168-181, January.
    13. Reijer Hendrikse & Michiel van Meeteren & David Bassens, 2020. "Strategic coupling between finance, technology and the state: Cultivating a Fintech ecosystem for incumbent finance," Environment and Planning A, , vol. 52(8), pages 1516-1538, November.
    14. Du, Huibin & Xia, Qiongqiong & Ma, Xuan & Chai, Lihe, 2014. "A new statistical dynamic analysis of ecological niches for China’s financial centres," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 395(C), pages 476-486.
    15. Valérie Revest & Sandro Sapio, 2008. "Financing Technology-Based Small Firms in Europe: a review of the empirical evidence," LEM Papers Series 2008/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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    17. Rajiv Sharma & Eric Knight, 2016. "The Role of Information Density in Infrastructure Investment," Growth and Change, Wiley Blackwell, vol. 47(4), pages 520-534, December.

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