This volume presents a broad investigation into the relationship between the centre and the periphery in banking. Focusing on the historical development of financial markets, from their emergence in the early modern period to today's global financial and capital markets, the chapters investigate how local, national and international relationships have affected and helped shape the banking industry over three-hundred years. This wide-ranging discussion in time and place is provided by a group of international experts, encompassing bankers, economists, economic historians and historians, and will be of interest to all those with a scholarly or professional interest in the development of financial institutions.
This edited collection explores the boundaries between political and financial geographies, focusing on the linkages between the changing strategies, policies and institutions of the state. It also investigates banks and other financial institutions affected by both state policies and a globalizing financial system, and the financial resources available to firms as well as households. In so doing, the book highlights how an empirical focus on the semi-periphery of the financial system may generate new perspectives on the entanglement between (geo) politics and finance.
The remarkably successful gold standard before 1914 was the first international monetary regime. This book addresses the experience of the gold standard peripheries; i.e. regime takers with limited influence on the regime. How did small countries adjust to an international monetary regime with seemingly little room for policy autonomy?
Definitions of urban entities and urban typologies are changing constantly to reflect the growing physical extent of cities and their hinterlands. These include suburbs, sprawl, edge cities, gated communities, conurbations and networks of places and such transformations cause conflict between central and peripheral areas at a range of spatial scales. This book explores the role of cities, their influence and the transformations they have undertaken in the recent past. Ways in which cities regenerate, how plans change, how they are governed and how they react to the economic realities of the day are all explored. Concepts such as polycentricity are explored to highlight the fact that cities are part of wider regions and the study of urban geography in the future needs to be cognisant of changing relationships within and between cities. Bringing together studies from around the world at different scales, from small town to megacity, this volume captures a snapshot of some of the changes in city centres, suburbs, and the wider urban region. In doing so, it provides a deeper understanding of the evolving form and function of cities and their associated peripheral regions as well as their impact on modern twenty-first century landscapes.
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations.International banking standards are intended for the regulation of large, complex, risk-taking international banks with trillions of dollars in assets and operations across the globe. Yet they are being implemented in countries with nascent financial markets and small banks that have yet to ventureinto international markets. Why is this? This book develops a new framework to explain regulatory interdependence between countries in the core and the periphery of the global financial system. Drawing on in-depth analysis of eleven countries across Africa, Asia, and Latin America, it shows howfinancial globalisation generates strong reputational and competitive incentives for developing countries to converge on international standards. It explains how specific cross-border relations between regulators, politicians, and banks within developing countries, and international actors includinginvestors, peer regulators, and international financial institutions, generate regulatory interdependence. It explains why some configurations of domestic politics and forms of integration into global finance generate convergence with international standards, while other configurations lead todivergence. This book contributes to our understanding of the ways in which governments and firms in the core of global finance powerfully shape regulatory decisions in the periphery, and the ways that governments and firms from peripheral developing countries manoeuvre within the constraints andopportunities created by financial globalisation.
This collection re-examines and re-assesses the role of the semi-periphery in world politics and argues that the processes of globalization have led us to widen our understanding of the semi-periphery, through a range of case studies as well as theoretical chapters.
Prominent scholars in literary and cultural studies, anthropology, sociology, linguistics, media studies, theatre production, and translation challenge the centre-periphery dichotomy used as a paradigm for relations between colonizers and their erstwhile subjects in this collection of critical interventions. Focussing on India and its diaspora(s) in western industrialized nations and former British colonies, this volume engages with topics of centrality and/or peripherality, particularly in the context of Anglophone Indian writing; the Indian languages; Indian film as art and popular culture; cross-cultural Shakespeare; diasporic pedagogy; and transcultural identity.
The network pattern of financial linkages is important in many areas of banking and finance. Yet bilateral linkages are often unobserved, and maximum entropy serves as the leading method for estimating counterparty exposures. This paper proposes an efficient alternative that combines information-theoretic arguments with economic incentives to produce more realistic interbank networks that preserve important characteristics of the original interbank market. The method loads the most probable links with the largest exposures consistent with the total lending and borrowing of each bank, yielding networks with minimum density. When used in a stress-testing context, the minimum density solution overestimates contagion, whereas maximum entropy underestimates it. Using the two benchmarks side by side defines a useful range that bounds the cost of systemic stress present in the true interbank network when counterparty exposures are unknown.
