2021/02/16 – Vladimír Pažitka (Oxford): Financial centres in investment banking networks: insights from five years of early career research

Vladimír Pažitka started working at the School of Geography and the Environment, University of Oxford, as a research assistant in May 2015, before beginning his doctoral studies later that year. In addition to his doctoral thesis, he has worked on several additional research projects and by the time he defended his doctoral thesis in June 2018, he had published four co-authored manuscripts. He currently works as a Research Associate in Finance and Geography on an ERC funded research project led by Professor Dariusz Wójcik. He has recently accepted a post at the Leeds University Business School of Assistant Professor in Banking and Finance, which he plans to start on May 1st, 2021.

Chair: David Bassens, Vrije Universiteit Brussels, Belgium

Abstract: I will discuss the insights from my research on financial centres and investment banking networks. This research has been published in a variety of journals including Economic Geography, Environment and Planning A and the Journal of Economic Geography. I primarily work with data on individual capital market transactions, which I use to build bespoke datasets covering hundreds of financial centres. I employ a variety of econometric and network analytical methods to study the impact of positioning in investment banking networks on the growth trajectories of individual investment banks as well as entire financial centres. Investment banking networks can reduce information frictions among countries and consequently increase both the volume and propensity for international trade in financial services. We have found that investment banks with a more central positioning in investment banking networks tend to grow faster and can restrict the growth opportunities of their lesser connected competitors. Naturally, many challenges and unanswered questions remain in this field of research. How will London be affected by BREXIT? Will Shanghai become one of the world’s leading international financial centres? Will the Covid-19 pandemic radically reshape the spatiality of finance? I am hoping to contribute to answering these questions in the future and I hope that others will join.



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