The New York-London Financial Nexus in the Shadow of Brexit
While concern has been widespread that Brexit will endanger London’s status as a global financial hub, a related—although far less publicized—issue is that it may also weaken London’s interconnectedness with New York, which this paper refers to as the ‘NY-LON nexus’. To address this issue this paper...
Kaydedildi:
| Yayımlandı: | URI:https://journals.openedition.org/osb, |
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| Yazar: | |
| Materyal Türü: | Article ou chapitre numérique |
| Dil: | Anglais |
| Baskı/Yayın Bilgisi: |
Observatoire de la société britannique
2020
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| Online Erişim: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
| Özet: | While concern has been widespread that Brexit will endanger London’s status as a global financial hub, a related—although far less publicized—issue is that it may also weaken London’s interconnectedness with New York, which this paper refers to as the ‘NY-LON nexus’. To address this issue this paper brings it into the wider debates on the ’special’ UK-US economic relationship and on the role of financial centres in the process of globalisation. Part one focuses on the centrality of Foreign Direct Investment (FDI) and finance in the UK-US economic relationship and on the role of NY-LON as a key driver of globalisation. Part two outlines the ‘space of flows’ between the ‘global twin-cities’ and the institutional foundations underlying those flows, making the case for the locational and institutional embeddedness of globalisation in NY-LON. Keeping that framework in mind, Part three provides a few insights into the potential effects of Brexit on NY-LON and globalisation. |
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