Typology of world financial centers at the beginning of the 21st century
- Pages
- 25-34
Abstract
The study focuses on world financial centers (GFCs), which have different functions, and, forming a network of GFCs, ensure the integration of the countries into the world financial system (WFS). But within the framework of the GFC network, the global financial centers that are part of it, may differentiate significantly and experience inequality. The geography of the research is wide, covering the global and regional levels. The typology drawn up in the work focuses on the functional differentiation of the GFC, which occurred as a result of their formation and development. The spatial aspect of the transformation of the GFC network is manifested through the use of the Center-Peripheral model, which in this work covers the world financial system. Based on the analysis of statistical data, indices of consulting companies, as well as comprehensive studies carried out by economists and geographers, the world financial centers are differentiated by the functions they perform within the GFC network. Global financial centers have been subdivided into some types, and a number of conclusions have been formulated about the trends in the transformation of the GFC network and the factors determining this process. The author has identified promising points of growth and new macroregions of the world financial system.