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Research publications


The City of London focuses on the following themes: London and the UK Economy, City Industries and the EU, Competitiveness and Regulation and Infrastructure, Regeneration and Employment. To receive new reports when they are published, please email economic.research@cityoflondon.gov.uk.

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Latest publications:

The City and the UK Economy:

  • Delivering Power: The future of electricity regulation in London's central business district
  • Implications of Global Capital Flows on the London Office Market
  • TheTotal Tax Contribution of UK Financial Services - Fourth Edition
  • Capacity Trade and Credit: Emerging Architecture for Commerce and Money  
  • Access to Global Talent - The impact of migration limits on UK financial and professional business services
  • Aviation Services in the City - 2011 update
  • London's Competitive Place in the UK and Global Economies
  • The Total Tax Contribution of UK Financial Services - Third Edition
  • The Total Tax Contribution of UK Financial Services - Second Edition 
  • London's Place in the UK Economy, 2009-2010
  • Total Tax Contribution of UK Financial Services 
  • London's Place in the UK Economy, 2008-09

EU and the Regulatory Environment:

  • A Financial Transaction Tax - Review of Impact Assessment
  • The Implications of the New Financial Regulatory Architecture
  • Trends in IPO Listings by SMEs in the EU
  • The Value of Europe's International Financial Centres to the EU Economy
  • Understanding the Impact of MiFID in the Context of Global and National Regulatory Innovations - European Study
  • Understanding the Impact of MiFID
  • The Post-Trade Infrastructure for Carbon Emissions Trading 
  • The Future of Banking Regulation
  • The City's Role in Providing for the Public Equity Financing Needs of UK SMEs
  • Delivering Copenhagen 
  • The Importance of Wholesale Financial Services to the EU Economy 2009
  • Lessons from the Impact of the Economic and Financial Crisis on the EU and the European Neighbourhood
  • The Role of Private Finance in Paying for Long Term Care in an Ageing Society
  • Current Issues Affecting the OTC Derivatives Market
  • UK Emissions Policy Options
  • The Importance of Wholesale Financial Services to the EU Economy 2008
  • Capital Market Competitiveness and Regulation

Competitiveness and UK Regulation:

  • Understanding Global Financial Networks: Business and Staff Location Decisions
  • Taxation and the Financial Services Sector in the UK: Predictability and Competitiveness
  • Avoiding Corruption Risks in the City: The Bribery Act 2010
  • The Global Financial Centres 7
  • The Global Financial Centres Index (GFCI) 6
  • Assessing the Effectiveness of Enforcement and Regulation
  • The Global Financial Centres Index (GFCI) 5
  • The Global Financial Centres Index (GFCI) 4
  • Sustainability Assessment of Global Financial Centres
  • The Global Financial Centres Index (GFCI) 3
  • The Impact of Taxation on Financial Services Business Location Decisions

Corporate Responsibility and Regeneration:

  • The Public Health and Primary Healthcare Needs of City Workers
  • Investor Perspectives on Social Enterprise Financing
  • The Impact of City Businesses in Addressing Social Disadvantage: 2010 Update
  • Volunteering - The Business Case - The Benefits of Corporate Volunteering Programmes in Education
  • The Competitiveness of London's Business Property Offer
  • An Assessment of the City's ICT Infrastructure
  • The City Of London's Supply Chain and its Relationship with the City Fringes
  • Aviation Services and the City 
  • The Impact of City Businesses in Addressing Social Disadvantage

International Markets:

  • London: A Centre for Renminbi Business
  • Emerging Markets - International Capital Raising Trends
  • The Challenges and Opportunities for Financial Services in Indonesia
  • The Shanghai International Board: Challenges and Opportunities
  • The Challenges and Opportunities for Financial Services in Brazil
  • The Future of Asian Financial Centres - Challenges and Opportunities for the City of London
  • The Competitive Position of the Gulf as a Global Financial Centre
  • The Development of India's Corporate Debt Market

Research Review:

  • 2011 Research Review
  • 2010 Research Review
  • 2009 Research Review
  • 2008 Research Review

The City and the UK Economy

Delivering Power: The future of electricity regulation in London's central business district

Delivering Power report front cover

March 2012

This research report was produced for the City of London Corporation, City Property Association and London First by South East Economics and Stephen Jones Associates. The report examines how utilities regulation, in particular electricity connections, affects development in London's Central Business District and associated investment.

 

Implications of Global Capital Flows on the London Office Market

Implications of Global Capital into the London Office Market front cover  March 2012

This report examines patterns of global investment into London’s office property market, looks at how this has developed over recent years and examines future implications.

Download Implications of global capital on the London office market report (2560k)

 

 

Total Tax contribution of UK financial services report cover The Total Tax Contribution of UK Financial Services - Fourth Edition

 

 December 2011

The fourth edition of this study produced by PwC for the City of London looks at the total tax contribution made by financial services companies in the UK in the tax year to March 2011. It also looks at trends in these contributions since 2007.  This fourth edition of the annual study uses data from 43 financial services companies.

Download The Total Tax Contribution - 4th Edition report
Download The Total Tax Contribution news release

Capacity Trade and Credit: Emerging Architectures for Commerce and Money

Capacity Exchange Report Cover December 2011

This research report was produced for the City of London, Recipco and ESRC by Z/Yen to explore the concept and application of a global capacity exchange hub in the UK. It examines different concepts of multilateral reciprocal trade and capacity exchanges and looks at the potential for the development of such a capacity exchange based in London, and the regulatory structure which would be needed to support it.

 

Access to Global Talent - The impact of migration limits on UK financial and professional business services

Access to Global Talent Report Cover  November 2011

This Special Interest Paper investigates the impact of new migration limits set in April 2011 on the perceived attractiveness of the UK and London as a location for businesses. The research, carried out by Consensus, is based on a series of qualitative interviews with financial and professional services firms located in the UK.

 

Aviation Services in the City - 2011 update

Aviation report cover January 2011

Following on from the previous 2008 study, York Aviation was commissioned to carry out research to input to and influence the thinking of the South East Airports Task Force and, in the longer term, to input to any consultation surrounding the potential upcoming draft National Policy Statement on Airports. The research analyses the use of air services by City users and of London’s current air service offer compared with other major European cities and survey a number of stakeholders on their views on what short-term improvements can be made.

 

London’s Competitive Place in the UK and Global Economies

London's Competitive Place cover

January 2011

In this report Oxford Economics examine and highlight the economic role of London as the gateway for trade and inward investment for the whole of the UK and the principal focus of the globally competitive advantage for the UK economy in terms of international professional and business services. The work draws on latest data and utilises projections of economic change that highlight the opportunities and challenges of London’s position as a global economic player. It will build on previous and current published research by the City of London, GLA Economics and others.

The Total Tax Contribution of UK Financial Services - Third Edition

Total Tax report cover

December 2010

The third edition of this study, produced by PwC for the City of London, shows the size and contribution that the Financial Services sector makes to tax revenues in the UK.  This third study uses data from 30 financial services companies and analyses the financial year to March 2010

 

The Total Tax Contribution of UK Financial Services - Second Edition

December 2009

The second edition of this study, commissioned by the City of London, from PricewaterhouseCoopers, shows the size and contribution that the Financial Services sector makes to tax revenues in the UK, and the impact of the tax system on the sector.  This second study uses data from 34 FS companies and analyses the financial year to 31 March 2009. 

London's Place in the UK Economy London's Place in the UK Economy 2009-10

October 2009

In the eighth edition of this annual flagship publication, the London School of Economics evaluates and measures London's pivotal importance to the health and success of the wider UK economy. As in previous years, this report includes an estimate of the net contribution of the London economy to the UK public finances, but also analyses London's position as an economic gateway to other regions in the UK. The special article in this edition of the report focuses on outer London's place in the wider London economy, looking particularly at its interlinkages with central London.

Total Tax Contribution of UK Financial Services

February 2009

Commissioned by the City of London, PwC carried out a study of the Total Tax Contribution made by Financial Services sector. The study illustrates the size of the contribution made by the sector to UK public finances in the UK. The study was carried out using data on large Financial Services companies on all their UK tax payments, including taxes borne and taxes collected.

London's Place 08-09 report cover image London's Place in the UK Economy, 2008-09

October 2008

In the seventh edition of this annual flagship publication, the London School of Economics evaluates and measures London's pivotal importance to the health and success of the wider UK economy. As in previous years, this report includes an estimate of the net contribution of the London economy to the UK public finances, but also analyses London's position as an economic gateway to other regions in the UK. A special topic included in this edition is an analysis of the variations in economic performance between the London boroughs.


EU and the Regulatory Environment

Financial Transaction Tax report front cover A Financial Transaction Tax - Review of Impact Assessment

  March 2012

This report, by Anita Millar, presents the background and conclusions material of a larger report, prepared for the International Regulatory Strategy Group, that leverages the work of selected impact assessments and analyses (IAAs) to provide a reference document that identifies common themes and issues as well as highlighting any contradictory findings.

 

Implications of the new Financial Regulatory Architecture report cover The Implications of the New Financial Regulatory Architecture

October 2011

Based on discussions with senior regulators within the EU, UK authorities and senior staff representing firms headquartered in the UK, EU and internationally, this report considers how the issue of super-equivalence could develop under the new regulatory structures.

 

Trends in IPO Listings by SMEs in the EU Trends in IPO Listings by SMEs in the EU

October 2011

This paper, produced by Colin Mason from the University of Strathclyde, reviews patterns of IPO listings in Europe in recent years and compares trends with the US and other global economies. It considers a number of issues, both cyclical and structural, that may be underpinning these trends, with a particular focus on the availability and use of venture capital financing and the use of trade sales as an exit strategy.

Value of EU Centres Cover The Value of Europe’s International Financial Centres to the EU Economy

July 2011

This report, jointly commissioned from Europe Economics by the TheCityUK and the City of London for the International Regulatory Strategy Group (IRSG), explores the clustering of European financial centres and the networking between them, measuring the extent to which both the UK and the wider EU economy benefit from having globally competitive international financial centres within the EU.

Understanding the impact of MiFID cover page Understanding the Impact of MiFID in the Context of Global and National Regulatory Innovations

May 2011

This paper produced by London Economics for The City of London expands on the study results published in October 2010. The study was carried out using a survey approach across ten European centres to see whether the previous findings are UK specific or consistent across Europe.

 

MiFID report cover Understanding the Impact of MiFID

October 2010    

Since its EU-wide implementation in November 2007, MiFID has significantly modified the environment and structure of secondary market equity trading in Europe. For this research, London Economics conducted empirical analysis and stakeholder interviews to clarify whether as a result of MiFID: the expected benefits on the integration of EU financial markets have materialised; whether national liquidity pools have been broken down, and whether pan-European trading has grown more than it would have in the absence of MiFID, using their 2002 report to the European Commission as a baseline.

Carbon emssions trading cover The Post-Trade Infrastructure for Carbon Emissions Trading

July 2010

Prepared for the City of London by Bourse Consult, this report reviews the existing technical, legal and regulatory structures necessary for the auctioning of emissions. It also assesses the current infrastructure for European emissions trading against the standards of established financial markets and sets an agenda for future action.

 


The future of Banking Regulations cover The Future of Banking Regulation

May 2010

This report, prepared for the City of London by Europe Economics, offers some comments on the future of banking in the context of the proposals of the Basel Committee from December 2009 in respect of amended liquidity and capital requirements. This paper is intended as an input to the City’s deliberations concerning its own response to the Basel Committee’s proposals. It is an independent report intended to stimulate debate, and does not constitute a statement of the Corporation’s views or those of City stakeholders who were interviewed during the preparation for the report.

sme financing report cover The City's Role in Providing for the Public Equity Financing Needs of UK SMEs

March 2010

This report assesses the contribution made by the City (UK financial services) in meeting the equity finance needs of small and medium-size enterprises (SMEs) in the UK. The study seeks to explore the role of public equity markets in the SME funding ladder. While primarily equity focused, the research also considers the provision of other forms of financing, such as business angels and venture capitalist financing. The research is being carried out by URS, Bourse Consult and Strathclyde University.

Delivering Copenhagen cover Delivering Copenhagen

December 2009

This special interest paper, commissioned by the City of London, looks at how the financial services industry can play a vital role in providing long-term, sustainable solutions to the climate change problem.



Wholesale Financial Services 09 Cover  The Importance of Wholesale Financial Services to the EU Economy 2009

September 2009

This is the fourth edition of this annual report, produced by London Economics, which investigates the role, structure and importance of wholesale financial services in the European Union. The report takes a comprehensive look at the sector, highlighting the scale and the range of activities undertaken by wholesale financial institutions.  It examines the recent problems faced within the sector, and takes a realistic view of its medium term prospects. 

Lessons from the Impact of the Economic and Financial Crisis on the EU and the European Neigbourhood

November 2009

This special interest paper, commissioned from Chatham House, provides an analytical framework, examining the experiences of the financial crisis and global recession, and the impact across the EU, from which to conduct and stimulate debate on the key messages for the European Project and the way forward.

The Role of Private Finance in Paying for Long-Term Care in an Ageing Society

October 2009

Following on from the Government Green Paper on the future of long term care, ‘Shaping the Future of Care Together,’ released in July 2009, this paper, produced by the Cass Business School, examines the potential role of the financial services industry in providing a long-term, sustainable solution to the problem of funding long-term care for the elderly against the backdrop of an ageing UK population.

Current Issues Affecting the OTC Derivatives Market and its Importance to London

April 2009

Commissioned by the City of London from Bourse Consult, this timely and useful paper contributes to the current debate surrounding moves to regulate the OTC market and the instruments that comprise it.

UK Emissions Policy Options

October 2008

This paper, authored by Liz Bossley, CEO of the Consilience Energy Advisory Group Ltd, sets the context and describes the opportunities for London arising from market developments in emissions trading and the related emerging climate markets. In this report, the current stages of development of the international Kyoto-based emissions market, the mandatory regional and national markets around the world, and the international voluntary market, are reviewed. An assessment is made of the contribution of the different asset classes of allowances that are trading in the market, their relative values and how they are linked. The transaction log and registry system that controls the international transfer of emissions allowances is described, and a method proposed whereby the UK registry could be adapted to overcome the limitations of this system to facilitate international trade conducted through the UK. Finally, the paper looks ahead to consider the range of likely outcomes of the negotiations on a new Kyoto deal post-2012 and the UK’s role in these discussions and suggests a framework whereby complementary policies of the Greater London Authority and the City of London could be coordinated with UK national climate change policy.

Wholesale Financial Services report cover image  The Importance of Wholesale Financial Services to the EU Economy 2008

July 2008

This report, produced by London Economics, builds upon the The Importance of Wholesale Financial Services to the EU Economy 2007 and investigates the role, structure and importance of wholesale financial services in the European Union.  The specific topic for this year’s report is the EU’s wholesale finance market and its various competitors under a range of differing scenarios, such as changing demographics, the rise of Asia and emerging market economies, the impact of regulation and the consequences of recent market turbulence. The impact of these forecasts for the EU growth rate, its country constituents and its key competitors is also considered.

Capital Market Competitiveness and Regulation

March 2008

Concerns about alleged disparities in the effective enforcement of securities regulation across different national regimes has recently been used to question international initiatives on mutual recognition. In December 2007, Professor John Coffee, Professor of Law at Columbia University, published an article “Law and the Market: the Impact of Enforcement” in the Pennsylvania Law Review which suggested that such disparities were strong and greater enforcement intensity in the US lowers the cost of capital there.  The City of London commissioned Professor Eilis Ferran, Professor of Securities Law at Cambridge University, to explore the issues raised by Professor Coffee.   Professor Ferran’s paper assesses Professor Coffee’s work and suggests a misunderstanding about the UK system.  The paper recommends that mutual recognition of cross border securities regulation be based on equivalence of outcome and not equivalence of regulatory approach.


Competitiveness and UK Regulation

Understanding Global Financial Networks report Understanding Global Financial Networks: Business and Staff Location Decisions

May 2011

In this report Ipsos MORI examine how businesses and highly-skilled internationally mobile staff take decisions about locating in particular financial centres, and consider interviewees perceptions of the offer of the four leading financial centres globally. The report presents the findings of in-depth qualitative research carried out via interviews with 40 financial services professionals from across a range of sectors and financial centres.

 

Taxation and the Financial Services Sector in the UK report cover Taxation and the Financial Services Sector in the UK: Predictability and Competitiveness

October 2010

Taxation of the Financial Services Industry: Predictability and Competitiveness’ assesses the way in which the predictability and competitiveness of the UK tax regime impacts upon the financial services industry. The City of London-commissioned report was produced by Charles River Associates, and uses both quantitative and qualitative analysis based on interviews with senior stakeholders. The report also contains a comprehensive set of recommendations to help shape the debate on supporting a competitive tax regime.

Corruption Risks cover Avoiding Corruption Risks in the City: The Bribery Act 2010

May 2010

The Bribery Act is expected to reinforce the UK’s international reputation for setting high standards in the regulation of  economic activity and as a country that takes corruption seriously. This report provides an overview of corruption risk for City businesses, focusing on the issues raised by the Bribery Act. It describes the Act and seeks to minimise uncertainty for City businesses about how it will be interpreted and enforced once it comes into effect. It also highlights the types of business activity which put City businesses at greatest risk in relation to bribery and prosecution.

GFC7 cover  Global Financial Centres 7

March 2010

The seventh Global Financial Centres report, commissioned and published by the City of London and produced by Z/Yen Group Limited, combines survey responses from financial services professionals around the world with external indices to produce ratings and rankings of competitiveness for the world’s leading 75 financial centres. This edition adopts a new approach to profiling different types of centres along new dimensions of competitiveness, reflecting how well connected they are in the global financial architecture, and how diversified their services are. The survey covers the period from July to December 2009.

GFCI6 Cover The Global Financial Centres Index (GFCI) 6

September 2009

The sixth edition of the Global Financial Centres Index, commissioned and published by the City of London and produced by Z/Yen Group Limited, combines survey responses from financial services professionals around the world with external indices to produce ratings and rankings of competitiveness for the world’s leading 72 financial centres. The survey covers the period from January to July 2009.

Assessing the effectiveness of Enforcement and Regulation information pack Assessing the Effectiveness of Enforcement and Regulation

April 2009

The City of London Corporation, the London Investment Banking Association (LIBA), the International Capital Market Association (ICMA), the Securities Industry and Financial Markets Association (SIFMA) and the Futures and Options Association (FOA) have commissioned a piece of research with the aim of contributing to the current debate on the effectiveness of enforcement and capital market regulation in different countries.

Both recent and ongoing developments in capital markets stemming from the current crisis, and moves by some regulatory authorities to consider mutual recognition of comparable regulatory regimes form the background to this project.  The former brings to light market and regulatory failures that have engendered a fundamental review of the approach taken to the regulation of capital markets; the latter brings the challenge that regulatory authorities, interested in reaching mutual recognition agreements, need to assess other regimes on the basis that they deliver broad equivalence in terms of outcomes, and to avoid defaulting to measures of regulatory inputs. The purpose of this study is to help to shape the debate on these two issues.

Global Financial Centres Index 5 Global Financial Centres Index (GFCI) 5

March 2009

The fifth edition of the Global Financial Centres Index, commissioned and published by the City of London and produced by Z/Yen Group Limited, combines survey responses from financial services professionals around the world with external indices to produce ratings and rankings of competitiveness for the world’s leading 62 financial centres. The survey covers the period from July to the end of December 2008.

GFCI 4 report cover image The Global Financial Centres Index (GFCI) 4

September 2008

The fourth edition of the GFCI, produced by Z/Yen Group Limited, again produces a ranking of competitiveness for the leading financial centres in the world. Rating scores are produced by combining data from external indices of competitiveness with the results of an online survey completed by financial services professionals from around the world. This edition features the latest survey responses (collected between February and July 2008), new centres and updated external data.

Sustainability Assessment of Global Financial Centres cover Sustainability Assessment of Global Financial Centres

March 2008

This report, by URS Corporation Ltd., examines the sustainability practices of four major global financial centres: London, New York, Sydney and Tokyo. The sustainability challenges facing these cities are explored and their policies and responses are described in detail, including examples of best practice. One chapter focuses on environmental finance approaches in these centres, and the report also presents a model for assessing the sustainability attributes of cities, rating London against these indices.

GFCI 3 cover image The Global Financial Centres Index (GFCI) 3

March 2008

The GFCI evaluates the competitiveness of financial centres worldwide by bringing together the results of online surveys completed by financial services leaders and separate indices of competitiveness.  The third edition of the GFCI, produced by Z/Yen Group Limited, includes a special feature on the role of skills in a financial centre's competitiveness.

Taxation report cover image The Impact of Taxation on Financial Services Business Location Decisions

February 2008

This report, by CRA International, examines recent trends in UK taxation and their effect on City firms. It examines all aspects of the UK tax regime and reflects a number of interviews with senior decision-makers in the City. It concludes that the UK corporate and personal tax regimes, and the manner of their implementation, are impacting detrimentally on the competitiveness of the UK financial services sector and beginning to affect business location decisions.  


Corporate Responsibility and Regeneration

The public health and primary healthcare needs of city workers The Public Health and Primary Healthcare Needs of City Workers

  May 2012

This report, prepared for the City of London Corporation and the NHS North East London and the City by PHAST investigates the public health and primary healthcare needs of City workers. The report focuses on mapping the current health status of City workers and identifying the aspects of public health and primary healthcare provision that are seen to provide the most effective support for reducing days lost through illness, maintaining a healthy lifestyle, and supporting long term and chronic health conditions. The work uses a balance of qualitative and quantitative methods, including interviews and online and street-based survey of staff at all levels.

 

Investor Perspectives on Social Enterprise Report Investor Perspectives on Social Enterprise Financing

July 2011

This pioneering research, commissioned by the The City of London Corporation, the City Bridge Trust and the BIG Lottery from authors Clearly So, explores investor perspectives on social financing investment vehicles. This interview-based report examines the factors influencing the attractiveness of social finance investment products to potential investors, and provide insights and recommendations into how investment vehicles can be structured to meet investor needs in this rapidly growing market.

impact of city businesses The Impact of City Businesses in Addressing Social Disadvantage: 2010 Update

November 2010

This paper updates the 2008 report by Oxford Economics providing an estimate of the value of the economic and social impacts delivered by the community investment programmes of financial and professional services firms.

Volunteering – The Business Case Volunteering – The Business Case
The Benefits of Corporate Volunteering Programmes in Education

May 2010

This research explores the business case for City-type firms maintaining Corporate Social Responsibility (CSR) programmes. It focuses on the competencies that can be developed through participation in education-related employee volunteering programmes, as well as the benefits that this approach can offer over more traditional forms of staff development. It also examines the benefits offered to employers, and highlights key aspects of developing a successful employee volunteering programme via case studies of firms that have facilitated staff development in this way. Given the current economic uncertainty, this report provides an evidence base to support City firms maintaining CSR programmes.

The Competitiveness of London’s Business Property Offer

March 2010

This report reviews the current and future competitiveness of London’s business property offer against other key financial centres: New York, Hong Kong, Tokyo, Singapore, Paris and Geneva. It examines aspects of competitiveness including occupancy costs, occupier choice, supply responsiveness and real rental change over time. It also offers a forward view of the future challenges and opportunities faced by London in maintaining the competitiveness of its business property offer.

ICT Infrastructure cover An Assessment of the City’s ICT Infrastructure

June 2009

The City of London have commissioned SAMI Consulting to provide insight into the attractiveness to business of the City of London and its fringes in terms of its provision of ICT infrastructure, following on from "The City of London ICT Infrastructure Review” published in 2001 (the last piece of research to be published on the network infrastructure of the Square Mile).  There have been many changes in the IT & Telecoms industry since this time, and a number of strategic issues need to be addressed relating to new forms of technology by the City. This report will study existing ICT infrastructure and the future ICT requirements of businesses in the Square Mile and its immediate fringes.

Supply Chain report cover image  The City of London's Supply Chain and its Relationship with the City Fringes

September 2008

This report, carried out by the centre for economic and business research (cebr), was commissioned with City Fringe Partnership.  The research examines which sectors in the City fringes are trading with City businesses, ascertains what barriers exist that may discourage trading and makes recommendations on business support measures to help facilitate local purchasing.

Aviation Services and the City report cover Aviation Services and the City

July 2008

Recent research commissioned by the City of London has shown that the choices made by international financial services firms and the staff they employ are being influenced increasingly by non-market factors such as transport infrastructure. York Aviation was commissioned to provide up-to-date evidence of the City’s requirements for air travel, taking into account the various changes that have affected the aviation sector in the period since previous research on aviation was produced in 2002.  The findings of this report reinforce the view that good access to air services is critical in supporting London’s role as the world’s leading international financial and business centre.

The Impact of City Businesses in addressing Social Disadvantage The Impact of City Businesses in Addressing Social Disadvantage

March 2008

This report, by Oxford Economics, has been commissioned by the City of London Corporation in collaboration with Heart of the City to investigate the social and economic impact of Corporate Community Investment programmes of the Financial and Professional Business Services sector.  The report considers different approaches to impact measurement, uses existing datasets to estimate the financial contribution (inputs) that these companies make, investigates direct outputs, and uses a number of case studies to illustrate the effect these programmes have had within the wider community (the social return on investment).


International Markets

London: A centre for renminbi business report front cover London: A Centre for Renminbi Business

April 2012

This report, commissioned by the City of London Corporation and authored by Bourse Consult, presents a picture of the renminbi products and services currently available in London and the volume of business transacted in London in 2011.  The report demonstrates that a significant amount of renminbi business is already being done in London, including services for retail clients, services for corporate clients and interbank and institutional business. These products and services benefit clients by enabling them to conduct international transactions cost-effectively and securely - and allow risk to be hedged and managed.

Report cover Insurance companies and pension funds as institutional investors: Global investment patterns

November 2011

This Special Interest Paper, produced for the City of London by Trusted Sources, explores and compares the investment patterns of long term institutional investors across a range of developed and emerging markets, and the potential these kind of investments offer for the high-growth markets of China and India.

Emerging Markets cover Emerging Markets - International Capital Raising Trends

October 2010

This special interest paper for the City of London Corporation assesses trends in international capital raising by emerging market  companies, specifically those from Russia, Brazil, Mexico, South Africa and India. Separate chapters on each of these countries examine the factors determining where and why firms based there have turned to international capital markets to seek equity finance, with a view to forecasting how such trends will play out. These sections, as well as the Conclusion, highlight the opportunities and threats that such trends present to the City of London and other international financial centres in the short to medium term.

 

Financial Services in Indonesia cover  The Challenges and Opportunities for Financial Services in Indonesia

July 2010

In this report, Chatham House examines the prospects for Indonesia and scenarios for the potential development of financial services, identifying the opportunities for engagement with UK businesses. With the fourth largest population in the world, Indonesia already offers an attractive proposition for non-financial companies, yet there remains a need to develop the country's infrastructure and skills base to ensure future growth.

Shanghai International Board cover  
The Shanghai International Board: Challenges and Opportunities

June 2010

This research, conducted by Trusted Sources, examines the role to be played by the Shanghai International Board in realising China’s ambitions to become a major global financial player. It suggests that implementation of the Board will be a major step towards building a more advanced Chinese financial system.


Financial Services in Brazil cover  Challenges & Opportunities for Financial Services in Brazil

May 2009

 The City of London has commissioned research into the challenges and opportunities presented by Brazil, a major emerging market and conduit for financial activity across Latin America.  Brazil has seen accelerated development and has substantial and recognised potential for becoming a global economic player. Over the past ten years it has demonstrated a significant break with past instabilities – inflation has been controlled, government has been stabilised and markets have broadened. This has reinforced its role both as a primary resource exporter, especially in the area of biofuel energy, but also in the rapid development of a broad and balanced domestic market. Stability has allowed a broadening of both product and service markets, with an opportunity for considerable expansion of retail and wholesale financial services markets. Trusted Sources, the City of London’s commissioned consultants for this work, will investigate financial services, project finance, agribusiness, competition in capital markets, and economic and political vulnerabilities, identifying opportunities for UK-based businesses in this exciting emerging market.

Asian Financial Centres report cover image The Future of Asian Financial Centres – Challenges and Opportunities for the City of London

October 2008

The City of London commissioned Research Republic to investigate the challenges and opportunities from Asian financial centres for the UK-based international financial services sector.  The most recent Global Financial Centres Index (GFCI) research report, GFCI 4, confirmed that London and New York are currently the only two truly global financial centres whilst highlighting Singapore, Hong Kong and Tokyo as the leading Asian financial centres.  As the centre of gravity in the international economy increasingly shifts towards Asia, Asian financial centres will increase in importance. This report examines whether they will be able to challenge global financial centres and explores the opportunities they may offer.

The Competitive Position of the Gulf as a Global Financial Centre cover The Competitive Position of the Gulf as a Global Financial Centre

May 2008

The City of London Corporation appointed the ICMA Centre at the University of Reading to examine the relationships between the UK-based international financial services sector and the Arabian Gulf states in the Gulf Co-operation Council (GCC). As Gulf states use their oil wealth to fund economic diversification, transactions flows between the City of London and the GCC have increased considerably in recent years. Of particular interest is the development of emerging international financial centres in the GCC and the extent to which these centres interact with and offer opportunities and challenges to the City. 

India CDM cover The Development of India’s Corporate Debt Market

February 2008

This report, by the ICMA Centre at the University of Reading, examines the potential for development of the corporate debt market in India, and the conditions that might promote this. The analysis combines desk research of India-specific literature and work in related markets, in conjunction with interviews with senior industry figures in India. Both market-specific issues and economy-wide factors are examined, and the report makes a number of practicable recommendations which have the potential for swift implementation.


Research Review

2011 research review cover 2011 Research Review

February 2012

The City of London today publishes the 2011 Research Review, an overview of the City of London’s research programme during 2011. This annual release rounds up all publications under the key areas of activity:  City Industries and Infrastructure, Competitiveness and Taxation, The EU and Regulation, International Markets and Corporate Responsibility and Community.

 

Research Review 2010 Research Reveiw

January 2011

An overview of the City of London's research publications programme during 2010. This round up document reviews all publications under five key areas of activity:  The City and the UK Economy, Competitiveness and the UK Regulation, EU and the Regulatory Environment, Corporate Responsibility and Regeneration and International Markets.

 

research review 2009 cover 2009 Research Review

February 2010

An overview of the City of London's research publications programme during 2009. This round up document reviews all publications under five key areas of activity:  London and the UK Economy, City Industries, Competitiveness, Financial Regulation, and Employment & Regeneration.

 

2008 Research Review report cover image 2008 Research Review

February 2009

An overview of the activities of the City of London's research programme during 2008. This document reviews all publications under five key areas: London and the UK Economy, City Industries, Competitiveness, Financial Regulation, and Employment & Regeneration.


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