This text offers the first systematic and comprehensive overview of the economic geography of the UK for two decades. With contributions by many of the leading academics in the field, it offers a powerful case for exploring the UK economy from a geographical perspective.
- Investigates a single aspect of the UK economy within each chapter
- Covers topics including: the uneven development of the UK, the city and finance, government spending, pensions, housing, manufacturing, business services, agriculture, retailing, energy, immigration, and labor market change
- Demonstrates how the UK economy's fortunes are increasingly shaped by its links to the wider European and global economies
Written for students studying the economic development of the UK, the text offers a vibrant, easy-to-understand analysis of the current and future challenges that face the contemporary UK economy.
Chapter 5: Banking on Financial Services
Banking on Financial Services
- To account for the growing importance of the financial services sector to the UK economy
- To explain the uneven geography of financial services employment and the concentration of financial services in particular cities
- To map the changing geography of UK financial centres and identify ‘winners’ and ‘losers’ in the spatial competition to attract financial jobs
Since at least the 1980s both London's financial district and the financial services sector more generally have become increasingly important to the UK economy (and see Chapter 4). The role of financial services as a key engine of economic growth has led recent writers to argue that the UK should now be considered a financialised economy (Erturk et al., 2008); that is, one ...