A negative-sum game: Brexit has caused European finance to relocate to the US rather than across the continent

Heneghan, M. & Hall, S. (15 March 2021) A negative-sum game: Brexit has caused European finance to relocate to the US rather than across the continent. British Politics and Policy at LSE.
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Martin Heneghan and Sarah Hall find that Brexit has triggered a negative-sum game for European finance as activity shifts to the more established centres across the globe, particularly in the United States which has both regulatory access to the EU through equivalence and deep capital markets.

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