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Scottish financial institutions

Draper, Paul and Smith, Iain and Stewart, Bill (1985) Scottish financial institutions. Quarterly Economic Commentary, 11 (2). pp. 77-81. ISSN 0306-7866

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    In a financial system as integrated as that of the UK the existence of institutions based outside of London is a source of continuing interest. The absence of controls on the flow of capital and resources suggests that regional institutions wishing to expand may be attracted to the wider markets offered by London. There is a continued concern that the forces for financial agglomeration will exert a decisive pull outweighing the local ties of regionally based institutions. This economic perspective considers the prospects for the Scottish financial sector and its importance to the wider Scottish economy.