In a series of recent papers, Mark Roe and Lucian Bebchuk have developed further the concept of path dependence, combined it with concepts of evolution and used it to challenge the wide-spread view that the corporate governance systems of the major advanced economies are likely to converge...

In a series of recent papers, Mark Roe and Lucian Bebchuk have developed further the concept of path dependence, combined it with concepts of evolution and used it to challenge the wide-spread view that the corporate governance systems of the major advanced economies are likely to converge...

In this paper, we first discuss the notion of „important financial centres“ and the socio-economic and political conditions which need to be fulfilled for such a centre to exist. We then address the issue of the so-called “end of geography” which has attracted a lot of attention...