The Change of the City Index Rank of Tokyo in the Global Urban System:

DOI Web Site

Bibliographic Information

Other Title
  • グローバル都市システムにおける東京の地位変遷
  • グローバル都市システムにおける東京の地位変遷 : 金融面からの検証を中心に
  • グローバル トシ システム ニ オケル トウキョウ ノ チイ ヘンセン : キンユウメン カラ ノ ケンショウ オ チュウシン ニ
  • ― 金融面からの検証を中心に ―
  • From the Perspective of Financial Functions

Search this article

Abstract

<p>    A global economy is regarded as one with the capacity to work as a unit in real time on a world-wide scale. On the other hand, a world economy is thought of as an economy in which capital accumulation in the form of trade proceedings between firms based in different nation-states throughout the world. <BR>    With the coming of new information and communications technologies (ICT) at the turn of the century, the world economy has become global largely in the context of the international financial function. <BR>    Since John Friedman published the World City Hypothesis in 1986, there has been a longstanding tradition of research addressing the empirical results in ranking the position of global and world cites. Much of the literature in English and Japanese, such as Globalization and World Cities (GaWC), concluded that the position of Tokyo has clearly fallen in the global and world urban system. <BR>    This paper analyzes the position of Tokyo as a global city in the hierarchical structure of global and national urban systems through a financial perspective lens. The domestic financial data on the loan-deposit ratio and receipts and payments of banknotes and coins are extracted from a data set provided by the Bank of Japan (BOJ). The international financial data on the size of the foreign exchange and stock exchange markets are extracted from the data set provided by the World Federation of Exchange (WFE), the International Finance Corporation (IFC), and the Z/Yen Group. <BR>    Based on a domestic perspective, the results confirm that the position of Tokyo has experienced a drastic rise in terms of its size and location coefficient of financial transactions since the 1980s. However, the position of Tokyo in relation to the global and international context has experienced a drastic downturn when compared to that of London and other new emerging global cities such as Hong Kong and Singapore. This paper focused on the comparison of GNP to the size of financial functions, when GNP grew, the size of the foreign and stock exchange market transactions also increased in most countries.</p>

Journal

Keywords

Details 詳細情報について

Report a problem

Back to top