The Role of offshore Centers in International Financial Intermediation PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Role of offshore Centers in International Financial Intermediation PDF full book. Access full book title The Role of offshore Centers in International Financial Intermediation by Marcel Cassard. Download full books in PDF and EPUB format.
Author: Marcel Cassard
Publisher: International Monetary Fund
ISBN: 1451946783
Category : Business & Economics
Languages : en
Pages : 68
Get Book Here
Book Description
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author: Marcel Cassard
Publisher: International Monetary Fund
ISBN: 1451946783
Category : Business & Economics
Languages : en
Pages : 68
Get Book Here
Book Description
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author: Fondo Monetario Internacional
Publisher:
ISBN:
Category :
Languages : es
Pages : 64
Get Book Here
Book Description
Author: John E. Baiden
Publisher: Xlibris Corporation
ISBN: 1465359257
Category : Business & Economics
Languages : en
Pages : 62
Get Book Here
Book Description
Author: Söhnke M. Bartram
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Offshore centers have come to play an important role in the institutional structure of international financial markets. The article identifies two dimensions of dynamic competition that are relevant for an analysis of the offshore center phenomenon. First, there is competition between the offshore centers and one or more domestic financial markets. Second, there is dynamic competition among the offshore centers. The system of offshore centers generates a three-tier structure of international financial markets: domestic, foreign traditional, and offshore markets, both with respect to financial intermediaries as well as securities markets. This structure constitutes the institutional base for trends in the international financial markets which result in a process of increasing globalization.
Author: Don E. Garner
Publisher: Bloomsbury Publishing USA
ISBN: 0313000727
Category : Political Science
Languages : en
Pages : 226
Get Book Here
Book Description
The new global climate of free enterprise has brought with it a proliferation of offshore financial centers that presumably have important roles to play in the emergent global economy. The air of secrecy that appears to pervade the activities of offshore financial centers may well slant or obscure any real understanding of the functions of such centers. The authors investigate the role of major international accounting firms and their services in the processes of business facilitation in the locations that host these centers. By focusing the investigation upon the role of the accounting firms in offshore financial centers, the authors gain a better grasp of the real or potential impacts of the firms in the global economy and in the jurisdictions that host them. Not only do the authors provide a detailed assessment of what the major accounting firms are actually doing in the centers, but they point out what attributes are needed by jurisdictions hoping to succeed as offshore financial centers. The centers included are Antigua, Barbuda, the Bahamas, Barbados, Bermuda, the Cayman Islands, the Channel Islands, the Isle of Man, Gibraltar, Malta, Cyprus, Bahrain, the United Arab Emirates, Mauritius, the Seychelles, Singapore, and Vanuatu. The authors describe the legal and institutional environments facing business operations in general and the accounting firms in particular in offshore financial centers. By studying these operations, it should show what they are doing in terms of facilitating the international activities that flow through such centers. It should also add to the understanding of the potential that offshore activities have as vehicles for development in small emerging economies. This study should be of interest to a wide range of business disciplines, as well as governmental agencies in advanced and emerging nations, international agencies such as regional development banks, and accountants and the international financial community.
Author: Craig M. Boise
Publisher:
ISBN:
Category :
Languages : en
Pages : 81
Get Book Here
Book Description
The legal regimes of offshore jurisdictions have historically differed in significant ways from those applicable in onshore jurisdictions. Inevitably, legal and financial professionals have seized upon these differences to develop strategies for reducing transactions costs. A prominent example of such cross-border arbitrage was the routing of Eurodollar loans through a small group of former Dutch island colonies in the Caribbean, a practice which peaked in the mid-1980s, when virtually every major U.S. corporation made interest payments to a Netherlands Antilles finance subsidiary. The quot;Antilles sandwichquot; strategy exploited the difference between high U.S. withholding tax rates that applied to interest payments made to most foreign lenders, and the zero rate of tax that applied to U.S. interest payments made to residents of the Antilles under its tax treaty with the United States. Both jurisdictions reaped significant benefits from the strategy until the United States unilaterally terminated the tax treaty in 1987, virtually wiping out the Antilles offshore financial sector overnight. Unfortunately, because of rigidity in its governance structure, the Antilles' failed to develop alternative financial intermediation strategies to replace the Antilles sandwich structure before its demise. The rise and fall of the Antilles' offshore financial sector provides insight into the current struggle between onshore and offshore governments over the role of offshore financial centers like the Antilles within the global economy. Concerned about tax evasion by their residents, onshore jurisdictions including France, Germany, and the United States are pressing for major changes in offshore jurisdictions' legal and regulatory regimes that may eliminate legitimate opportunities for international arbitrage. In such an environment, offshore financial centers may find it difficult to survive. In this article, we distill from the Antilles experience a theory of quot;regime plasticityquot; and examine the role that it plays in allowing offshore financial centers to adapt to changes in the legal and political environments within which they operate. How offshore financial centers react, and whether they have learned the lessons of the Antilles' experience will play a major role in determining the future of the global offshore financial sector.
Author: Mr.Luca Errico
Publisher: International Monetary Fund
ISBN: 1451842163
Category : Business & Economics
Languages : en
Pages : 57
Get Book Here
Book Description
The paper takes a closer look at offshore banking—a pervasive practice that has played a role in recent crises. Offshore banking is an increasingly attractive alternative to the sometimes heavily regulated financial markets of emerging economies. From a microeconomic vantage point, offshore banks seem to exploit the risk-return tradeoff by being more profitable than onshore banks, and in many instances also more leveraged. Risks stemming from offshore activities may be easily transmitted onshore with systemic consequences. Current prudential and supervisory frameworks are broadly adequate for risk management if effectively and universally implemented.
Author: Rose-Marie Belle Antoine
Publisher: Ian Randle Publishers
ISBN: 9768167319
Category : Banks and banking, Foreign
Languages : en
Pages : 253
Get Book Here
Book Description
In this publication, academics, professional and representatives of the regulatory and government sectors from the Caribbean and the United Kingdom, address the types of offshore products and functions, the offshore tax function, the legal issues involved in using the offshore trust, and regulation of the offshore sector. The Key areas of International Business vehicles, the Captive Insurance Industry the use of offshore trusts in International estate planning and the regulation and control of money laundering are also analysed. This publication represents an edited and updated collection of papers delivered at the 1998 workshop on the subject Legal Issues in Offshore International Financial Services.
Author: International Monetary Fund. Monetary and Financial Systems Dept.
Publisher: International Monetary Fund
ISBN: 1498329241
Category : Business & Economics
Languages : en
Pages : 47
Get Book Here
Book Description
NULL
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455216569
Category : Business & Economics
Languages : en
Pages : 180
Get Book Here
Book Description
This paper presents a coordinated portfolio investment survey guide provided to assist national compilers in the conduct of the Coordinated Portfolio Investment Survey, conducted under the auspices of the IMF with reference to the year-end 1997. The guide covers a variety of conceptual issues that a country must address when conducting a survey. It also covers the practical issues associated with preparing for a national survey. These include setting a timetable, taking account of the legal and confidentiality issues raised, developing a mailing list, and maintaining quality control checks.
