Geofinance between Political and Financial Geographies
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Geofinance between Political and Financial Geographies

A Focus on the Semi-Periphery of the Global Financial System

Edited by Silvia Grandi, Christian Sellar and Juvaria Jafri

This edited collection explores the boundaries between political and financial geographies, focusing on the linkages between the changing strategies, policies and institutions of the state. It also investigates banks and other financial institutions affected by both state policies and a globalizing financial system, and the financial resources available to firms as well as households. In so doing, the book highlights how an empirical focus on the semi-periphery of the financial system may generate new perspectives on the entanglement between (geo) politics and finance.
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Chapter 4: Spatial development and offshore financial chains

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.

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