Technologies and proximities: Frankfurt's new role in the European financial centre system

  • The main argument in this paper is that new information and communication technologies (ICT) in the financial industry will increase specialisation and competition within the European financial centre system and thereby lead to a ‘re-bundling’ of functions of the various financial centres. Frankfurt plays an interesting role in this development as it is one of the main development centres for ‘financial technology’. With these technologies, remote access to the Frankfurt stock exchange and inter-bank payment system is now feasible from most European cities. This leads to a reduced need for physical presence, which opens up new possibilities for the financial sector’s spatial organisation. However, as financial production is information- and knowledge-intensive, spatial and other types of proximity between financial actors and clients are still essential in many stages. We examine the value chains of three different products (advisory, lending, trading) with regard to different proximities, in order to identify possible patterns of their spatial (re)organisation. From these findings, inferences are drawn for a ‘new’ role for Frankfurt in the European financial centre system.

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Author:Michael H. Grote, Sofia Harrschar-Ehrnborg, Vivien Lo
Parent Title (German):Universität Frankfurt am Main. Fachbereich Wirtschaftswissenschaften: [Working paper series / Finance and accounting] Working paper series, Finance & Accounting ; No. 46
Series (Serial Number):Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting (46)
Publisher:Johann-Wolfgang-Goethe-Universität, Frankfurt am Main, Fachbereich Wirtschaftswissenschaften
Place of publication:Frankfurt am Main
Document Type:Working Paper
Year of Completion:1999
Year of first Publication:1999
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2020/08/31
Tag:financial centres; financial services; information technology; location theory; proximity; value chain
GND Keyword:Frankfurt am Main; Deutschland; Europa; Finanzplatz; nternationale Wettbewerbsfähigkeit; Internationaler Wettbewerb; Disketten-Clearing-Verfahren; Electronic Banking; Electronic Commerce; Standort; Agglomerationseffekt
Page Number:25
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Licence (German):License LogoDeutsches Urheberrecht