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Scotland is host to a large financial sector, which contributes 12.5% of its GDP.
Thus, a large financial sector is not in it of itself a bad sign.
A small, newly seceded economy would struggle to support a large financial sector, particularly following the financial crisis.
Due to its large financial sector Britain has been hit harder by the financial crisis than most other European countries.
Britain frets that an economic policy more clearly influenced by France could tilt the regulatory burden against Britain's large financial sector.
Since early 2009, the Justice Department and other government agencies have repeatedly declined to enforce the law as it applies to large financial sector companies.
Similar(40)
Both the UK and the US have large financial sectors and both were highly exposed to a financial sector shock.
Countries that had large financial sectors in 1960 grew faster over the next three decades than those that did not.
As the summit opened, ten British dependencies with large financial sectors, including Jersey and the Cayman Islands, agreed to sign a multilateral convention on information-swapping.
And, far from racing to the bottom, countries with large financial sectors are now as likely to create even tougher rules.
Recent research from the Organization for Economic Co-Operation and Development suggests that countries with very large financial sectors tend to grow more slowly, have more asset bubbles, and exhibit higher levels of inequality.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com