How do local financial centres develop from serving domestic markets to being international financial hubs?
The development of financial centres is of interest to policy makers and businesses around the world. From the establishment of basic market infrastructure in frontier countries, to centres that become multidisciplinary global hubs attracting investment from around the world, financial centre capabilities provide significant benefits for a country's economic growth.
Our research identifies four key stages in development, and outlines the key characteristics of centres at each stage. The film below shows the typical process of growth.
The full research report can be downloaded from the City of London website.