Lavery, S., McDaniel, S. and Schmid, D. (2019) Finance fragmented? Frankfurt and Paris as European financial centres after Brexit. Journal of European Public Policy, 26(10), pp. 1502-1520. (doi: 10.1080/13501763.2018.1534876)
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Abstract
Brexit creates an opportunity for alternative European financial centres. However, no comprehensive empirical analysis of the strategic positioning of actors within these financial centres has been conducted. In this article we outline findings from an extensive research project which we conducted in Frankfurt and Paris, two of the main ‘rivals’ to the City of London, in the aftermath of Brexit. We outline the core findings from this project and argue that the emerging competition between Frankfurt and Paris is shaped through four related axes: diversity, path dependency, territory and regulatory stability. Our analysis has implications for two bodies of literature within EU studies. First, inter-governmentalist and supra-nationalist approaches would benefit from interrogating more closely the contested sub-national politics of financial centres. Second, our analysis adds to a growing body of literature on European disintegration by interrogating the interaction of fragmentary and integrative dynamics in the sphere of European finance.
Item Type: | Articles |
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Additional Information: | Funding: Scott Lavery is Leverhulme Early Career Fellow at the University of Sheffield and gratefully acknowledges the financial support of The Leverhulme Trust. The authors also thank The White Rose University Consortium who supported this research at an earlier stage. |
Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Lavery, Dr Scott |
Authors: | Lavery, S., McDaniel, S., and Schmid, D. |
College/School: | College of Social Sciences > School of Social and Political Sciences > Economic and Social History |
Journal Name: | Journal of European Public Policy |
Publisher: | Taylor and Francis |
ISSN: | 1350-1763 |
ISSN (Online): | 1466-4429 |
Published Online: | 19 October 2018 |
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