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Geographies of finance in a globalizing world

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posted on 04.03.2019, 12:02 by David Bassens, Michiel Van-Meeteren
This chapter provides an overview of the main drivers of financial globalization, a process characterized by the growing range and depth of financial relations enshrined in a global financial system that supersedes the international state system. What it is about finance that allows its globalization to take place so rapidly and so deeply? We argue that a main answer lies in the inherent capacity of finance to overcome space and time constraints. Finance appears to produce space, yet, co-constitutively, geographic-institutional variegation feeds back into how finance operates in the world. Resultantly, variegated geographies of finance co-evolve to an important extent with pre-existing geographies of knowledge, law, and power. The chapter offers an overview of how financial geographers have studied financial globalization, and the variegation it produces, through the lens of international financial centers, firms, flows, and products. We illustrate these perspectives through the case of postwar European financial integration by narrating how European states have sought ways to benefit from financial globalization. This application of the analytical apparatus to European financial space reveals how financial globalization has been fundamental in deepening uneven development on the continent. The chapter concludes with an urgent plea to give space a central place in future studies of finance.



  • Social Sciences


  • Geography and Environment

Published in

Handbook on the Geographies of Globalization


248 - 257


BASSENS, D. and VAN MEETEREN, M., 2018. Geographies of finance in a globalizing world. IN:Kloosterman, R.C., Mamadouh, V. and Terhorst, P. (eds). Handbook on the Geographies of Globalization. Cheltenham: Edward Elgar Publishing, pp.248-257.


Edward Elgar Publishing


AM (Accepted Manuscript)

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© Robert C. Kloosterman, Virginie Mamadouh and Pieter Terhorst

Publisher statement

This is a draft chapter. The final version is available in Handbook on the Geographies of Globalization edited by Robert C. Kloosterman, Virginie Mamadouh and Pieter Terhorst, published in 2018, Edward Elgar Publishing Ltd The material cannot be used for any other purpose without further permission of the publisher, and is for private use only.

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Robert C. Kloosterman, Virginie Mamadouh and Pieter Terhorst


Loughborough Publications