Economic Geography of Investment Banking Since 2008: The Geography of Shrinkage and Shift
分析了2008年全球金融危机后投资银行核心业务的收缩与地理格局变化，发现大型银行收入下降最多，亚洲银行借本地资本市场增长崛起，美国银行虽仍主导但市场份额下滑，对理解全球金融体系变化及其地缘政治影响有参考价值。
Investment bank capitalism might have foundered during the global financial crisis in 2008, but what has happened to investment banks? Our analysis reveals that core investment banking activities have experienced a significant contraction, accompanied by diminished institutional and geographic concentration. Large banks have experienced the largest falls in revenue, and Asian banks have capitalized on the growth of their local capital markets. With direct access to the largest market in the world, US banks remain dominant globally, but their market shares have declined. Our results highlight the variegated nature of change under way in the global financial system, and its implications for geopolitics and geoeconomics.