| Tekijä: | Rose, A.K. Spiegel, M.M. |
| Otsikko: | Offshore financial centres: Parasites or symbionts? |
| Lehti: | Economic Journal
2007 : OCT, VOL. 117:523, p. 1310-1335 |
| Asiasana: | financial centres offshore investment banking monopoly competitive advantage models |
| Kieli: | eng |
| Tiivistelmä: | In this study, analysed are the causes and consequences of offshore financial centres (OFCs). While OFCs are likely to encourage bad behaviour in source countries, they may also have unintended positive consequences, e.g. providing competition for the domestic banking (as: dom-bnkg.) sector. Derived and simulated is a model of a home country monopoly bank facing a representative competitive (as: comp.) OFC which offers tax advantages. This paper's model predicts that proximity (as: prox.) to an OFC is likely to be pro-comp. The predictions are empirically tested and confirmed. OFC prox. is associated with a more comp. dom-bnkg. system and greater overall financial depth. |
SCIMA