Spatial dependence of organizations and analysis of variables which affect development of new spatial paths: A research on the financial centers

Economic Geography and Institutionalist Approaches which focus on evolution of economic geography shows that financial clusters tend to create self-reinforcing structure s. This structures form path dependence for financial organizations. In a globalized world, while financial markets are digitalised rapidly, institutions in financial systems still feel necessity to settle at a certain place. In literature, there are few studies which examine the factors of spatial dependence of financial organizations and new spatial ways, there is no model about how and inwhich way financial system structure creates a spatial dependence for financial clusters. In this thesis, the factors that influence spatial dependence of organizations and the development of new spatial ways are tested on Financial Centers. GFCI and GFDD databases are used to determine these factors. Panel data analysis is used to examine data. This thesis research is carried out on four models and each model consists one dependent and seven independent variables. By testing four hypothesis, it is attempted to find answer of research questions. After this process, the effective factors of new path creation ways for financial centers whose path dependency mutuated to spatial dependency Key words Path Dependence, Financial Center, Spatial Dependence, Financial System