Luxembourg as a financial hub : exploring the "why" behind its success
In the broad landscape of global finance, Luxembourg, despite its small size, has become a significant player alongside more traditional financial hubs such as London, Zurich, and New York. While it might not seem like a major player for an outsider and people outside of the industry, Luxembourg has indeed evolved into an essential financial center. The status was also highlighted by Backes Yuriko, Luxembourg Minister of Finance in an interview published by KPMG in June 2022 “Luxembourg’s financial center remains one of the foremost financial centers in the world.” (Backes, 2022) The question... Mehr ...
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Dokumenttyp: | fi=AMK-opinnäytetyö|sv=YH-examensarbete|en=Bachelor's thesis| |
Erscheinungsdatum: | 2023 |
Schlagwörter: | Finance and Innovation Management / fi=Liiketalous / hallinto ja markkinointi|sv=Företagsekonomi / förvaltning och marknadsföring|en=Business Management / Administration and Marketing| / Luxembourg / finance / financial markets / enterprises / financial sector / investments (economics) / economic development / business operations / investment activities / international economics / Bachelor's Degree in International Business |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-26742689 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | http://www.theseus.fi/handle/10024/815094 |
In the broad landscape of global finance, Luxembourg, despite its small size, has become a significant player alongside more traditional financial hubs such as London, Zurich, and New York. While it might not seem like a major player for an outsider and people outside of the industry, Luxembourg has indeed evolved into an essential financial center. The status was also highlighted by Backes Yuriko, Luxembourg Minister of Finance in an interview published by KPMG in June 2022 “Luxembourg’s financial center remains one of the foremost financial centers in the world.” (Backes, 2022) The question arises: why? This thesis is dedicated to exploring the factors that have contributed to Luxembourg's success, driven by my personal interest in this topic. The evolution of Luxembourg from an agricultural economy to a global financial center is analyzed, considering its strategic development and smart policymaking. By looking into the mutual influence between rules, economic growth, and international financial players, this thesis aims to assist the reader in achieving a deeper understanding of Luxembourg's unique strengths and advantages. In order to understand these complexities of Luxembourg's financial success, this thesis is structured to summarize the historical, regulatory, and economic factors of the financial hub, ultimately contributing to an understanding of the “why”.