{"title":"不确定时期的搬迁决策:英国脱欧与金融服务","authors":"Robert Panitz, Johannes Glückler","doi":"10.1080/00130095.2021.2009336","DOIUrl":null,"url":null,"abstract":"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.","PeriodicalId":48225,"journal":{"name":"Economic Geography","volume":null,"pages":null},"PeriodicalIF":7.2000,"publicationDate":"2022-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"5","resultStr":"{\"title\":\"Relocation Decisions in Uncertain Times: Brexit and Financial Services\",\"authors\":\"Robert Panitz, Johannes Glückler\",\"doi\":\"10.1080/00130095.2021.2009336\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"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.\",\"PeriodicalId\":48225,\"journal\":{\"name\":\"Economic Geography\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":7.2000,\"publicationDate\":\"2022-03-15\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"5\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Economic Geography\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1080/00130095.2021.2009336\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Geography","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/00130095.2021.2009336","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
Relocation Decisions in Uncertain Times: Brexit and Financial Services
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.
期刊介绍:
Economic Geography is a peer-reviewed journal dedicated to publishing original research that advances the field of economic geography. Their goal is to publish high-quality studies that are both theoretically robust and grounded in empirical evidence, contributing to our understanding of the geographic factors and consequences of economic processes. It welcome submissions on a wide range of topics that provide primary evidence for significant theoretical interventions, offering key insights into important economic, social, development, and environmental issues. To ensure the highest quality publications, all submissions undergo a rigorous peer-review process with at least three external referees and an editor. Economic Geography has been owned by Clark University since 1925 and plays a central role in supporting the global activities of the field, providing publications and other forms of scholarly support. The journal is published five times a year in January, March, June, August, and November.