The Role of Location in Knowledge Creation and Diffusion: Evidence of Centripetal and Centrifugal Forces in the City of London Financial Services Agglomeration

• Published in: Environment and planning. A Vol. 39; no. 6; pp. 1325 - 1345
• Main Authors: Cook, Gary A S, Pandit, Naresh R, Beaverstock, Jonathan V, Taylor, Peter J, Pain, Kathy
• Format: Journal Article
• Language: English
• Published: London, England SAGE Publications 01.06.2007; Pion; Pion Ltd, London
• Series: Environment and Planning A
• Subjects: Bgi / Prodig; Cities; Competitiveness; England; Enterprises; Financial economics; Financial services; Human geography; Indexing in process; Knowledge; Location of industry; Q1; United Kingdom; Urban economics. Equipment. Transportation; Urban geography; England; London; United Kingdom; Innovation; Proximity; Competitiveness; Labour market; Enterprise; Agglomeration; Financial flow; Financial services; Location
• ISSN: 0308-518X; 1472-3409
• DOI: 10.1068/a37380

In this paper we report on a major empirical study of centripetal and centrifugal forces in the City of London financial services agglomeration. The study sheds light on (1) the manner and magnitude of firm interaction in the agglomeration; (2) the characteristics of the agglomeration that aid the competitiveness of incumbent firms; and (3) the problems associated with agglomeration. In addressing these issues, we use the data to (1) test emerging theory that explains the high productivity and innovation of agglomerations in terms of their ability to generate and diffuse knowledge; and (2) evaluate the ‘end of geography’ thesis.