Introduction : a global overview from a historical perspective

Abstract

The introductory chapter provides a historical perspective to the discussion of international centres after the Global Financial Crisis and Brexit. It addresses three sets of questions. The first concerns the definition and ranking of international financial centres; the second concerns the effects, over the long run, of global financial crises on international financial centres, in terms of rise, decline, recovery, and reconfiguration; and the third concerns the ability of international financial centres to reinvent themselves in the face of new adverse conditions. The last set of questions is relevant to the likely effects of Brexit, and takes into account the fact that, historically, leading economic powers have always given rise to a major financial centre. The final part of the introduction is devoted to a presentation, against this historical background, of the eight core chapters of the book.