On the development of international financial centers

Goldberg, Michael A.; Helsley, Robert W.; Levi, Maurice D.

doi:10.1007/bf01952845

Cited by 15 publications

(3 citation statements)

References 18 publications

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“…8. This result also occurs in our time series and cross section studies of the determinants of the level of financial activity across nations, see GOLDBERG, HELSLEY, andLEVI, 1988. 9.…”

Section: Resultssupporting

confidence: 60%

“…For details of the growth of the international financial sector see MAYER, 1985;HAMILTON, 1986;and FERRIS, 1984. For critical commentary on the growth of international debt and international finance see KAUFMAN, 1986, and WACHTEL, 1986. GOLDBERG, HELSLEY and LEVI, 1988, examine the geography of international finance using national data rather than data for regions within a country.…”

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confidence: 99%

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The Location of International Financial Activity: An Interregional Analysis

1989

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1989) The location ofinternational financial activity: an interregional analysis, Reg. Studies 23, 1-7. This paper examines the determinants of the spatial distribution of financial activity. The determinants ofthe sizes ofthe financial services sector are estimated using data for a sample ofUS states. Although our analysis is limited by the availability ofdata, the results are strong and clear. The level ofinternational financial activity is positively and significantly related to per capita income, the level of imports, and the number of corporate headquarters. The results indicate that international trade is intensive in its use of financial services and that financial services tends to be exported along with goods. International financial activity Spatial US states Bank deposits Location GOLDBERG M. A., HELSLEY R. W. et LEVI M. D . (1989) La localisation des operations financieres internationales: une analyse interregionale, Reg. Studies 23, 1-7. Cet article examine les determinants de la distribution giographique des operations financieres. A partir des donnCes relatives 1 un echantillonnage des etats aux E-U on evalue les determinants de l'importance du secteur des services financiers. Bien que l'analyse soit limitee en fonction des donnees disponibles, les resultats sont puissants et clairs. L'ampleur des operations financieres internationales se rapporte de faqon positive et sensible au revenu par tCte, i l'importance des importations et au nombre de sieges, les resultats laissent supposer que le commerce international necessite une utilisation intensive des services financiers, et que les operations financieres ont tendance 1 Ctre exporttes aussi bien que les biens d'exportation.

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“…8. This result also occurs in our time series and cross section studies of the determinants of the level of financial activity across nations, see GOLDBERG, HELSLEY, andLEVI, 1988. 9.…”

Section: Resultssupporting

confidence: 60%

mentioning

confidence: 99%

The Location of International Financial Activity: An Interregional Analysis

1989

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“…for onshore centres of finance is discussed but not resolved by Drennan (1996). Furthermore, the dismissive nature of factors of location that cannot be easily measured or quantified, such as the development of differential regulatory and taxation regimes (see Goldberg et al 1988;Reed, 1981) is seen as a major flaw. Roberts (1995, p. 237) attempts to 'further a Marxian understanding of how capital increases its flexibility and averts crises (not unproblematically) through the financial system'.…”

Section: Theories Of Offshore Financementioning

confidence: 99%