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The Global Stock MarketIssuers, Investors, and Intermediaries in an Uneven World$
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Dariusz Wójcik

Print publication date: 2011

Print ISBN-13: 9780199592180

Published to Oxford Scholarship Online: September 2011

DOI: 10.1093/acprof:oso/9780199592180.001.0001

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The Map of the Global Stock Market Redrawn: Stock Market Centres and their Future

The Map of the Global Stock Market Redrawn: Stock Market Centres and their Future

Chapter:
(p.151) 8 The Map of the Global Stock Market Redrawn: Stock Market Centres and their Future
Source:
The Global Stock Market
Author(s):

Dariusz Wójcik

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199592180.003.0008

Chapter 8 summarizes the argument of the book, proposing a theory of stock market centres, understood as concentrations of stock market intermediaries, investors, and issuers' headquarters, operating through a global network. The theory is supported with evidence presented in Chapters 1–7, as well as new empirical evidence on the size and evolution of stock market centres in the six largest economies of the world: the United States, China, Japan, Germany, France, and the United Kingdom. In this way, the book completes the journey from the map of stock markets focused on countries to a more complex, but also truer map on which cities play a key part. The chapter finishes with speculations about the implications of the theory of stock market centres, as well as other theoretical and empirical findings of the book, for the future of the global stock market and cities.

Keywords:   stock market, globalization, global city, agglomeration, global network, financial centres, policy, future

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