By Kirsten Bindemann
This quantity examines the way forward for ecu monetary centres within the context of monetary and fiscal union (EMU). in keeping with unique empirical learn, it investigates the relative competitiveness of ecu monetary centres, with unique connection with London and Frankfurt, within the context of the one forex debate. concerns coated contain: * the evolution of monetary centres * optimum layout of a global monetary centre * monetary companies legislation and EMU * the competitiveness of worldwide monetary centres
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Extra resources for The Future of European Financial Centres
Amsterdam We have already outlined the rise and decline of Amsterdam as we went along. In addition it should be mentioned that due to the Dutch East India Company and its innovations in reporting, the city developed the first information network in Europe in the 17th century. This network was built on an internal source of information which was then extended to other merchant dealings (Neal 1990). It brought about a self-sustaining growth with more merchants, agents and other participants moving to Amsterdam.
The only diversion can be found in the very last question, where respondents should list and explain the necessary improvements financial centres other than London need to make in order to catch up with the latter. The Abraham et al. panel study Abraham et al. (1993) published two studies on the competitiveness of European International Financial Centres. The first study, completed in 1991, comprised London, Paris, Frankfurt, Luxembourg, Zürich and Brussels. In the following year they analysed the position of Amsterdam, Copenhagen, Madrid, Milan and Brussels.
Zürich became the main centre at the end of the 19th century. It was renowned for the pushiness of its bankers and had an additional advantage through its location on the railroad system. It also established a comparative advantage by offering only minimally regulated banking and investment services to private individuals. Amsterdam We have already outlined the rise and decline of Amsterdam as we went along. In addition it should be mentioned that due to the Dutch East India Company and its innovations in reporting, the city developed the first information network in Europe in the 17th century.
The Future of European Financial Centres by Kirsten Bindemann