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Spatial development and offshore financial chains

In: Geofinance between Political and Financial Geographies

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  • Umberto Rosati

Abstract

A financial centre is a specific area in the centre of the city with a concentration of banks, stock markets, insurance and financial companies, linked to a high employment level in this branch. One of the concepts defined by geographers is the selective agglomeration of the functions that are connected to both structural and dynamic elements. This model defines an international spatial hierarchic structure on an urban scale that evidences the role of a financial centre as a supranational system, able to move, control and manage the world’s economic system. There are two different economic forces, centrifugal and centripetal, that operate within a financial space, and they define the geographic space structure connected to the financial economy. When centrifugal force prevails, there is a rise in and development of the agglomerations within only a few cities that are connected to the financial command functions, in order to have a high level of embeddedness and maintain a leader role over time.

Suggested Citation

  • Umberto Rosati, 2019. "Spatial development and offshore financial chains," Chapters, in: Silvia Grandi & Christian Sellar & Juvaria Jafri (ed.), Geofinance between Political and Financial Geographies, chapter 4, pages 65-78, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19106_4
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