International Financial Centre Development in Central and Eastern Europe – Role of Financial & Business Services Offshoring in IFC Formation

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dc.author.affiliationDTOhu
dc.author.mtmtid10001296
dc.contributor.authorGál, Zoltán
dc.coverage.mtmtmtmthu
dc.coverage.spatialRoskildehu
dc.date.accessioned2015-10-21T07:44:09Z
dc.date.available2015-10-21T07:44:09Z
dc.date.issued2015
dc.description.abstractThis paper examines the development of international financial centres (IFC) in Central and Eastern Europe (CEE). The study argues that the development of the financial services in CEE is characterized by external dependency, which is manifested in the form of hierarchical command and control functions over CEE financial subsidiaries within the West European IFC network. The paper quantitatively compares the factors of IFC functions of Budapest in comparison to those of Warsaw and Prague. It argues that despite the lack of market evidence showing signs of a regional-centre focus during the transition period, there are some signs of IFC formation. The paper assesses the uneven impact of the global economic crisis upon CEE financial centres and confirms that their development trajectories became more differentiated as a result of the crisis. The steady decline of Budapest during the second half of the 2000s was accompanied by the rise of Warsaw. Our analysis concluded that Budapest, despite its earlier endeavours, most likely lost the competition to become an international financial centre.hu
dc.description.accessSzabadon elérhetőhu
dc.description.conferenceThe 25th Annual RESER Conference: "Innovative Services in the 21st Century". Koppenhága, Dánia, 2015.09.10-2015.09.12.hu
dc.format.extentfirstpage450hu
dc.format.extentlastpage475hu
dc.host.proctitleThe 25th Annual RESER Conference: "Innovative Services in the 21st Century" : Proceedings / ed. by Sundbo J; Fuglsang L; Sorensen F; Balsby Nhu
dc.identifier.citationSundbo J; Fuglsang L; Sorensen F; Balsby N (szerk.) The 25th Annual RESER Conference: "Innovative Services in the 21st Century" : Proceedings. Konferencia helye, ideje: Koppenhága, Dánia, 2015.09.10-2015.09.12. Roskilde: Roskilde University, 2015. pp. 450-475. (ISBN:978-87-7349-921-4)hu
dc.identifier.isbn978-87-7349-921-4hu
dc.identifier.mtmt-recordid2958898
dc.identifier.urihttp://ruconf.ruc.dk/ocs_pics/RESER2015/RESER2015_Proceedings.pdf
dc.identifier.urihttp://hdl.handle.net/11155/990
dc.languageangolhu
dc.publisherRoskilde Universityhu
dc.rightsCreative Commons Attribution Non-Commercial No Derivatives (CC-BY-NC-ND-4.0) Nevezd meg!-Ne add el!-Ne változtasd!hu
dc.subjectpénzügyi központhu
dc.subjectKelet-Európahu
dc.subjectKözép-Európahu
dc.subjectpénzügyi szolgáltatáshu
dc.subjectkülföldi tőkebefektetésekhu
dc.subjectválsághu
dc.titleInternational Financial Centre Development in Central and Eastern Europe – Role of Financial & Business Services Offshoring in IFC Formationen
dc.typeconferencePaperhu
dc.type.descriptiontanulmányhu
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