Decentralized Versus Centralized Financial Systems: Is There a Case for Local Capital Markets?

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The local geographies of the financial crisis: from the housing bubble to economic recession and beyond (2011, background): “…then (see for example, Dow, 1990; Corbridge et al., 1994; Porteous, 1995; Thrift and Leyshon, 1997; Cohen, 1998; Laulajainen, 1998; Martin, 1999; Klagge and Martin, 2005; Clark, 2006; Gärtner, 2009; Cambridge Journal of Regions, Economy and Society, 2009; Journal of Economic Geography, 2009),…”
Innovation, SMEs and the liability of distance: the demand and supply of bank funding in UK peripheral regions (2016, background): “Economic geographers on the other hand have highlighted the potential problem of the UK’s highly spatially concentrated markets for small firm equity, and suggested that this may lead to a problem for firms seeking external finance (Klagge and Martin 2005).”
Bank Size or Distance: What Hampers Innovation Adoption by SMEs? (2010, background): “…occurred in the last two decades and of the expected coming wave of cross–border M&As should balance the benefits of having more efficient, competitive and globalized banks with the costs of organizational diseconomies due to the centralization of bank headquarters (Klagge and Martin, 2005).”