Answers are grounded in this paper and cite their sources.
Globalisation and technical change increase the intensity of competition within and between financial centres already subject to competitive pressures from an apparently highly mobile financial capital. However, financial production is shaped by its complex, socially constructed cultural geography through which the variety of its markets take place and its profits are defined and made. The production of mortgage-backed securities within the City of London illustrates the argument.
No takes yet. Share an insight, caveat, or question.
Pryke et al. (1995) studied this question.
Synapse has enriched 5 related papers. Consider them for comparative context: