Relocation Decisions in Uncertain Times: Brexit and Financial Services

Robert Panitz · Johannes Glückler

24 citations0/0 files storedEconomic Geography

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Global Urban Networks and Dynamics International Business and FDI Global Financial Regulation and Crises

Abstract

This article examines the impact of uncertainty and profound political, economic, and regulatory changes on the process of geographic reorganization of the financial industry in the course of Brexit. It draws on historic lessons of massive relocations within the financial industry in Europe to conjecture three scenarios: (1) concentrated relocation to build a new European lead financial center (FC), (2) least necessary relocation to meet regulatory requirements for operation in the EU single market, and (3) selective relocation and cumulative functional specialization of regional FCs. Drawing on official statistics, corporate and media reports, as well as on qualitative interviews and participant observation in the field, we build an original database of published plans and confirmed practices of geographic reorganization. Our analysis of the relocations of financial service firms from London to five leading FCs on the European continent supports the least necessary relocation as well as selective relocation scenarios. We conclude that Brexit-induced reorganization actually reproduces the existing geographic architecture while simultaneously deepening the divisions of labor among the established European FCs.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 24 citations exist upstream.

References

2006Path dependence and regional economic evolution 2002The Elusive Concept of Localization Economies: Towards a Knowledge-Based Theory of Spatial Clustering 1927Weltwirtschaftliches Archiv 1895Geographische Zeitschrift 2004Selling China: Foreign Direct Investment during the Reform Era 1993A financial history of Western Europe 1998Competitive strategy : techniques for analyzing industries and competitors : with a new introduction 1999Economic Integration and FDI: An Empirical Analysis of Foreign Investment in the EU and in Central and Eastern Europe

Cited by

2022The Role of Space and Place in Organizational and Institutional Change: A Systematic Review of the Literature 2024The City of London after Brexit: Sticky power in the Global Financial Network 2023Financial centres and information hierarchies: Insights from the geographies of sell-side equity research

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.