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OverviewOffshore financial centers (OFCs) have a troubled reputation for enabling tax evasion, money laundering, autocratic looting, and even the financing of terrorism-but they play an essential role in the world economy. Fears of criminal activity have prompted many onshore governments to restrict offshore competition, but over-regulating OFC activity presents a serious risk of destabilizing the global financial system. In Offshore Financial Centers and Regulatory Competition, a group of leading international law and finance experts argues that offshore jurisdictions have become key players in corporate finance and captive insurance markets. OFCs offer legal protections for financial privacy and provide regulatory competition to onshore jurisdictions, forcing national governments to evaluate and reform their own tax and regulatory policies. Offshore centers also help to streamline foreign direct investment and create growth opportunities for countries with weak financial systems by providing access to global capital and sophisticated courts. As the ongoing financial crisis produces new regulatory regimes aimed at eradicating money laundering and other white-collar crimes, Andrew P. Morriss and his coauthors contend that legitimate offshore competition must be allowed to flourish. OFCs are no longer the shady tax havens portrayed in popular media, and onshore governments must recognize and protect their important contributions to the global economy. Full Product DetailsAuthor: Andrew P. Morriss , Rose-Marie Belle Antoine , Craig M. Boise , Anna Manasco DionnePublisher: AEI Press Imprint: AEI Press Dimensions: Width: 15.20cm , Height: 2.10cm , Length: 22.90cm Weight: 0.476kg ISBN: 9780844743240ISBN 10: 0844743240 Pages: 200 Publication Date: 16 August 2010 Recommended Age: From 18 to 22 years Audience: College/higher education , Tertiary & Higher Education Format: Hardback Publisher's Status: No Longer Our Product Availability: In Print This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsReviewsAuthor InformationAndrew P. Morriss is the H. Ross and Helen Workman Professor of Law and Business and professor at the Institute of Government and Public Affairs, University of Illinois, Urbana-Champaign. Tab Content 6Author Website:Countries AvailableAll regions |