INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY

The economic crisis of 2008-2010 caused extensive discussion among leading economists, financial experts, politicians about the need to reform the global financial system with capitals in New York and London. Today international financial centres are the key elements of the global financial system,...

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Autor principal:	A. Y. Dolgova
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2017
Materias:	international finance regional economics financial globalization global financial system international financial centre global city the global financial centres index International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/e58ead69bda54dc893d3342374a09f52
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spelling	oai:doaj.org-article:e58ead69bda54dc893d3342374a09f522021-11-23T14:50:39ZINTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY2071-81602541-909910.24833/2071-8160-2017-1-52-162-172https://doaj.org/article/e58ead69bda54dc893d3342374a09f522017-05-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/659https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099The economic crisis of 2008-2010 caused extensive discussion among leading economists, financial experts, politicians about the need to reform the global financial system with capitals in New York and London. Today international financial centres are the key elements of the global financial system, which lined up mechanisms to attract and manage capital flows around the world. At the same time, in the academic literature and studies of leading financial organizations, there isn’t an established definition of “international financial center”. IFC is regarded as a place of concentration of banks and financial companies’ offices, and as a platform for national businesses access to the global capital market and as a global city with the special conditions of doing business. The article provides an overview of approach to the definition of “international financial centre” in the foreign and domestic academic literature. Considerable attention is paid to the approach of defining IFC as a function of the global city in terms of urban studies, sociology and geography. Research on key features of the IFC is based on the analysis of GFCI methodology, which is compiled by Z / Yen Group Limited. The author concludes that more attention in defining IFC should be given to its role as a global city, rather then its financial intermediary function, taking into account the growing role of such factors of competitiveness as business and city environment, human capital.A. Y. DolgovaMGIMO University Pressarticleinternational financeregional economicsfinancial globalizationglobal financial systeminternational financial centreglobal citythe global financial centres indexInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 0, Iss 1(52), Pp 162-172 (2017)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	international finance regional economics financial globalization global financial system international financial centre global city the global financial centres index International relations JZ2-6530
spellingShingle	international finance regional economics financial globalization global financial system international financial centre global city the global financial centres index International relations JZ2-6530 A. Y. Dolgova INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY
description	The economic crisis of 2008-2010 caused extensive discussion among leading economists, financial experts, politicians about the need to reform the global financial system with capitals in New York and London. Today international financial centres are the key elements of the global financial system, which lined up mechanisms to attract and manage capital flows around the world. At the same time, in the academic literature and studies of leading financial organizations, there isn’t an established definition of “international financial center”. IFC is regarded as a place of concentration of banks and financial companies’ offices, and as a platform for national businesses access to the global capital market and as a global city with the special conditions of doing business. The article provides an overview of approach to the definition of “international financial centre” in the foreign and domestic academic literature. Considerable attention is paid to the approach of defining IFC as a function of the global city in terms of urban studies, sociology and geography. Research on key features of the IFC is based on the analysis of GFCI methodology, which is compiled by Z / Yen Group Limited. The author concludes that more attention in defining IFC should be given to its role as a global city, rather then its financial intermediary function, taking into account the growing role of such factors of competitiveness as business and city environment, human capital.
format	article
author	A. Y. Dolgova
author_facet	A. Y. Dolgova
author_sort	A. Y. Dolgova
title	INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY
title_short	INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY
title_full	INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY
title_fullStr	INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY
title_full_unstemmed	INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY
title_sort	international financial centre and global city
publisher	MGIMO University Press
publishDate	2017
url	https://doaj.org/article/e58ead69bda54dc893d3342374a09f52
work_keys_str_mv	AT aydolgova internationalfinancialcentreandglobalcity
_version_	1718416680956198912

INTERNATIONAL FINANCIAL CENTRE AND GLOBAL CITY

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