Australia as an international financial services centre : assessment of determinants, position and future prospects

Kevin Daly, Chanikarn Teresa Tosompark

    Research output: Chapter in Book / Conference PaperConference Paper

    Abstract

    ![CDATA[In general, a financial centre can be defined as ‘a place in which there is a high concentration of managed financial institutions and financial markets performing activities which are internationally recognised for their management efficacy, efficiency, and legal standing. Australia’s financial sector(gross value added) relative to the overall economy is very similar to that of many other developed economies, such as the US, UK, Japan and Canada, but significantly less than a number of overseas financial centres, most notably Luxembourg, Hong Kong and Singapore. In this study we construct a number of traditional and alternative measures to assess the importance of Australia as an International Managed Financial Services Centre relative to other major centres. In particular we draw comparisons between inward/outward international investment positions and the exports of financial services. Due to data limitations, these measures are compared on a country rather than on a city level on which activities of an IFC should be based]]
    Original languageEnglish
    Title of host publicationProceedings of the Australian Centre for Financial Studies - Finsia Banking and Finance Conference 2010 : Australia’s Financial Institutions in Transition, RACV Club, Melbourne 30 Sep. - 1 Oct. 2010
    PublisherFinancial Services Institute of Australia
    Number of pages15
    Publication statusPublished - 2010
    EventAustralian Centre for Financial Studies - Finsia Banking and Finance Conference -
    Duration: 1 Jan 2010 → …

    Conference

    ConferenceAustralian Centre for Financial Studies - Finsia Banking and Finance Conference
    Period1/01/10 → …

    Keywords

    • financial services industry
    • Australia

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