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Author: Esther C. Suss
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
The paper reviews the development of offshore financial activities in the English-speaking Caribbean islands and takes stock of the size and status of these sectors today. In view of the heightened concerns of the international community about money laundering, the costs and risks to countries of having or establishing offshore sectors have risen considerably.
Author: Esther C. Suss
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
The paper reviews the development of offshore financial activities in the English-speaking Caribbean islands and takes stock of the size and status of these sectors today. In view of the heightened concerns of the international community about money laundering, the costs and risks to countries of having or establishing offshore sectors have risen considerably.
Author: Esther C. Suss
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
The paper reviews the development of offshore financial activities in the English-speaking Caribbean islands and takes stock of the size and status of these sectors today. In view of the heightened concerns of the international community about money laundering, the costs and risks to countries of having or establishing offshore sectors have risen considerably.
Author: Michael Brei
Publisher:
ISBN:
Category :
Languages : en
Pages : 54
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Book Description
This paper investigates offshore financial centers in the Caribbean from the perspective of offshore economies, onshore economies, and international investors. Using multilateral data on the international positions of banks, we analyze the flow of funds that has been transferred from the major banking systems to offshore financial centers located in the Caribbean and vice versa. We highlight that Caribbean offshore financial centers have been predominantly used by persons, resident in the United States, which send and receive most of the offshore funds, a process called round-tripping. For the major player in the Caribbean, the United States, we find that increases in offshore funds have been associated with reductions in corporate income tax revenues. These costs, however, have to be put into relation with the potential benefits, in the form of higher lending by commercial banks located in the United States.Along with the empirical analysis, we analyze the advantages and disadvantages of offshore financial centers from the perspective of offshore and onshore governments, and international corporations and investors. In particular, we provide a review of the international tax legislation, focusing on activities and investments in traditional offshore centers, treaty heavens, and special concession havens. Although the vast majority of offshore transactions seem to be perfectly legal, there exist concerns that particular corporations and individuals might misuse offshore financial centers. For this reason, we discuss as well the major international initiatives on countering the harmful practices in offshore centers and tax havens.
Author: Sébastien Chauvin
Publisher: Routledge
ISBN: 1351248855
Category : Political Science
Languages : en
Pages : 232
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Book Description
This edited collection examines the realities of the last remnants of the European colonial empires in the Caribbean, namely the British, Dutch and French overseas territories. Although known and perhaps infamous for their role as high-end tourist destinations and financial centres, these small jurisdictions are complex and multifaceted places. While this volume considers their role as financial centres, it does so from alternative and original perspectives by examining how the sector shapes the internal dynamics of these Caribbean societies, and how it is itself shaped by global trends. A range of contributions is included that highlight other key issues. Political relations between the territories and their metropolitan centres and with the European Union are the focus of several chapters, highlighting the stresses and strains, and in many cases the unfulfilled expectations of devolved governance. Further chapters describe the economic instability and factors of political conflict faced by some of these societies and the available options to address them. Finally, several chapters reflect more specifically on the territories’ internal social and ethnic dynamics, and the hierarchies and inequalities that result. Bringing together a variety of different disciplinary perspectives, from political science to sociology, and from anthropology to geography, this book will be of great interest to any academic or student who wishes to see how an often overlooked part of the world is actually a key site of socio-economic transformation and a crucial nexus in global affairs. Sébastien Chauvin is a sociologist and an Associate Professor at the Institut des Sciences Sociales at the University of Lausanne, Switzerland. His research deals with immigration, citizenship, gender, sexuality, law and labour in France and the USA. With Bruno Cousin, he has also developed a multi-sited research programme on social and symbolic capital and the cultural sociology of economic élites, with a focus on Western Europe (élite male social club sociability), the Caribbean region (Saint-Barthélemy), and new forms of conspicuous consumption among the global super-rich. His other ongoing writing explores the intersections of race, nationalism, sexuality and citizenship in the Netherlands, France and the USA. Peter Clegg is Associate Professor in Politics and Head of the Department of Health and Social Sciences at the University of the West of England, Bristol, UK. He was formerly Visiting Research Fellow at both KITLV/Royal Netherlands Institute of South East Asian and Caribbean Studies, Leiden, Netherlands, and at the Sir Arthur Lewis Institute of Social and Economic Studies (SALISES), University of the West Indies, Jamaica. His main research interests focus on contemporary developments within the United Kingdom Overseas Territories and the international political economy of the Caribbean. Bruno Cousin is Assistant Professor of Sociology at Sciences Po, France, and an affiliate of the Centre of European Studies and Comparative Politics (CEE), France. Previously, he was Assistant Professor at the University of Lille, France, and Postdoctoral Research Fellow at Harvard University, USA, and has held visiting positions at NYU, the University of Amsterdam and Birkbeck. His research interests focus on class relations, residential segregation, social capital and forms of bourgeois sociability, and the modes of élites’ legitimization. He is currently conducting research with Sébastien Chauvin on Saint-Barthélemy (French West Indies), whose first results have been published in Ethnologie française and Geographies of the Super-Rich (2013), and he has recently co-authored Ce que les riches pensent des pauvres (2017).
Author: Esther C. Suss
Publisher:
ISBN:
Category :
Languages : es
Pages : 33
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Book Description
Author:
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages :
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Author: Aretha M. Campbell
Publisher: Springer Nature
ISBN: 3030688763
Category : Business & Economics
Languages : en
Pages : 363
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Book Description
This book explains the consequences of global policy initiatives against money laundering, terrorist financing, and tax evasion on financial centres located in offshore jurisdictions in the Caribbean region. Adding to the existing literature by detailing international policy initiatives against money laundering and tax evasion from the early 1920s to date, this book examines the factors that have contributed to their gradual development over time, their role in contributing to money laundering, terrorist financing, and tax evasion, the international policy initiatives that came about to address these financial crimes, as well as the consequences of these policy initiatives on the legislative systems, institutions, offshore business sectors, and economies of these financial centres.
Author: W. Vlcek
Publisher: Springer
ISBN: 0230234925
Category : Political Science
Languages : en
Pages : 215
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Book Description
One path towards development taken by a number of small jurisdictions is the establishment of an offshore financial centre. This text analyses the actual economic contribution for several small Caribbean economies and the impact to continued operation arising from an international initiative for the exchange of taxpayer information.
Author: Dominic Thomas-James
Publisher: Routledge
ISBN: 1000411176
Category : Business & Economics
Languages : en
Pages : 133
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Book Description
This book considers the ability of island jurisdictions with financial centres to meet the expectations of the international community in addressing the threats posed to themselves and others by their innocent (or otherwise) facilitation of the receipt of suspect wealth. In the global financial architecture, British Overseas Territories are of material significance. Through their inalienable right to self-determination, many developed offshore financial centres to achieve sustainable economic development. Focusing on Bermuda, Turks and Caicos, and Anguilla, the book concerns suspect wealth emanating from financial crimes including corruption, money laundering and tax evasion, as well as controversial conduct like tax avoidance. This work considers the viability of international standards on suspect wealth in the context of the territories, how willing or able they are to comply with them, and how their financial centres can better prevent receipt of suspect wealth. While universalism is desirable in the modern approach to tackling suspect wealth, a one-size-fits-all approach is inappropriate for these jurisdictions. On critically evaluating their legislative and regulatory regimes, the book advances that they demonstrate willingness to comply with international standards. However, their abilities and levels of compliance vary. In acknowledging the facilitatively harmful role the territories can play, this work draws upon evidence of implication in transnational financial crime cases. Notwithstanding this, the book questions whether the degree of criticism that these offshore jurisdictions have encountered is warranted in light of apparent willingness to engage in the enactment and administration of internationally accepted laws and cooperate with international institutions.
Author: Sandra Marie Besson
Publisher:
ISBN:
Category :
Languages : en
Pages : 261
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Book Description
