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Offshore financial centres and economic development
51 pages / 7,00 crédits / 0 téléchargements
Auteur: Thibault Laffont de Colonges
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Document en ligne depuis le 15/09/2004 dans :
Sciences économiques et de gestion >Banque, finance, comptabilité
Mémoire écrit le 07/01/2004 dans l'établissement Lancaster University
Langue: Français
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Extrait
Experiments in offshore banking centres and tax havens began in the Sixties, often in small distant territories. Today, offshore centres are still being established not only in emerging economies and Asia, but also in Europe . They are based on granting advantageous conditions to international financial institutions. The first part of this dissertation raises the question of the wisdom for the host country of establishing offshore centres and evaluates the prospects of the various experiments. The second part considers the rationale for the geographical organisation of the financial institutions, and, in particular, the strategies for relocating auxiliary activities. We particularly analyse the case of the International Financial Services Centre (IFSC) of Dublin, created in 1987. The IFSC has been a great success and has generated significant benefits for the Irish economy. This example demonstrates how the criteria for relocating financial activities have evolved and the role of specialized “support-centres”, enabling these institutions to reduce their costs. The analysis of this case contributes to broader thoughts on the current modes of organization of these activities and on the relative attraction of different territories.
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