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Title: Emergence and development of a financial cluster: the evolution of Andorra’s banking deposits in the long-term, 1931-2007
Author: Galabert Macià, Marc
Keywords: Mercat financer
Lliure comerç
Política monetària
Financial market
Free trade
Monetary policy
Issue Date: 2014
Publisher: Universitat de Barcelona. Facultat d'Economia i Empresa
Series/Report no: [WP E-Eco14/317]
Abstract: This paper explores the origins of Andorra’s financial cluster. It shows that the free movement of currency, the protection of infant industry, and geographical concentration lie at the foundation of the cluster’s competitive advantage. Drawing on a new set of data, the paper also provides for the first time an estimate of the total deposits held by Andorra’s banks between 1931 and 2007. Based on this new information, the paper reaches the conclusion that the development of the cluster went through four distinct phases in which large companies, acting as leaders, played an important role in enhancing the cluster’s business capabilities.
Note: Reproducció del document publicat a:
It is part of: UB Economics – Working Papers, 2014, E14/317
ISSN: 1136-8365
Appears in Collections:UB Economics – Working Papers [ERE]

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