Youssef Cassis, Capitals of Capital: A History of International Financial Centres

摘要

Few developments in the world economy have been as dramatic or as far-reaching in their significance as the evolution of global financial markets in the latter part of the 20th Century. Driven by rapid change in technologies and the attendant reduction in information and transaction costs, it has led to far-reaching integration of finance, with broad implications for efficiency in global capital allocation as well as international macroeconomic linkages and policy-formation. Much of this activity is carried out in a limited number of financial centers.