[PDF] The Role Of The International Financial Centres In Underdeveloped Countries eBook

Author : Mr.Gian Milesi-Ferretti
Publisher : International Monetary Fund
Page : 34 pages
File Size : 47,51 MB
Release : 2010-02-01
Category : Business & Economics
ISBN : 1451962835

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This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset. It presents estimates of the foreign asset and liability positions for a number of the most important small financial centers, and places these into context by calculating the importance of these locations in the global aggregate of cross-border investment positions. It also reports some information on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.

Author : V. K. Bhalla Et Al.
Publisher : Anmol Publications PVT. LTD.
Page : 248 pages
File Size : 27,42 MB
Release : 1997-01-01
Category :
ISBN : 9788174886644

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The International Financial Centres (Ifcs) In Underdeveloped Countries Are Strategic Mechanisms Which Correspond To The Internationalisation Of Production, Which In Turn Occurred With The Expansion Of The Transnational Corporations (Tnc) In The 60S. They Were Created Around The Year 1970 With The Expansion Of The Transnational Banking System And The Internationalisation Of Capital.Main Topics, Elaborately, Discussed Are: International Financial Centres: An Overview; Causes Of The Creation And Expansion Of International Financial Centre; Functions Of The International Financial Centres; Internationalisation And Hegemony Of Finance Capital; Changing Forms Of Articulation Of Finance Capital And Prospects For Ifcs; Case For Bombay International Financial Centre, Etc.This Work Analyses The Origin Of The International Financial Centres And Their Role And Function Within This New Articulation Of The International System Under The Hegemony Of Finance Capital.The Students, Researchers, Academics, Financial Managers And Consultants Will Find This Book Most Useful And Informative.

Author : Nadiia Kudriashova
Publisher : GRIN Verlag
Page : 18 pages
File Size : 19,95 MB
Release : 2019-04-01
Category : Business & Economics
ISBN : 3668911452

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Essay from the year 2017 in the subject Economics - Finance, grade: MA, Yale University, language: English, abstract: International Finance Center (IFC) are an integral part of the modern international financial economy. One of its basic components is the availability of developed national financial markets, actively interacting with similar markets in other countries. As an example, the United States can lead the UK, Japan, in economic development which play an important role the financial markets, and the major cities of these countries (New York, London, Tokyo), are the major international financial centers. Cities can be seen as the gateway to the global economy. They are important for the functioning of both national and global economy, since they are concentrated huge financial, informational and intellectual resources, based most of the major industrial, commercial, financial and service companies, specialized credit and financial institutions and banks. In addition to traditional MFC in the last decades of the 20th century a number of new financial centers competing for the role of international. The acceleration of globalization and especially its financial component, led to an increase in strength and influence regional financial centers, in particular, such as Hong Kong (Hong Kong). The financial market of China, which is traditionally considered to be emerging financial markets have long been a mature international financial centers that have an impact not only on the regional economy, but also in the distribution of global capital flows. The study of the functioning of the MFC, their development trends is the most important area for the understanding of the new global economy, its characteristics and movement mechanisms. At the same time identifying new trends in the development of Asian financial centers, particularly their inclusion in the competition for international corporations have mastered the financial market, is both scientific and practical interest. This makes it possible to identify local features of financial globalization as a result of the connection and the active development of the Asia-Pacific Economic Space with new financial centers, show their role, prospects and competitiveness in the global economy. Of particular importance is the study of the development of Chinese financial market, especially given the fact that the IMF has recognized the yuan a freely usable currency, reflecting the expanding role of China in world trade, a significant increase in the use of the yuan in the international scale and the growth of operations with it.

Author : Peter Yeoh
Publisher : Kluwer Law International B.V.
Page : 325 pages
File Size : 48,60 MB
Release : 2021-08-06
Category : Law
ISBN : 9403535555

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Evidence continues to accumulate indicating that tax havens (as they are familiarly called) account for a staggering multi-trillion-dollar loss of tax revenues worldwide. Yet, as this crucially important book shows, such offshore financial centres (OFCs) represent merely the ‘low-hanging fruit’ of a massive malaise reaching into every corner of today’s global financial services landscape with the so-called New York-London axis at its root. In a biting critique and analysis of the tax and regulatory environments from which OFCs operate, the author demonstrates that OFC-like features exist in almost every jurisdiction as a virtually inevitable outcome of the transformation of economies worldwide over the past three decades, as nations and economic blocs compete for foreign investments, and as nations seek expansion of markets to accelerate growth. Covered aspects of this phenomenon include the following: the financialization process in global transactions; erosion of credibility in political establishments with regard to their ability to govern from the centre; ultralight regulatory enclaves found in parts of developed countries; public pressure demanding enhanced international cooperation and global tax reforms, now increasingly led by the US Biden administration, and increasingly likely to reach consensus among G7 economies; and momentum generated for reform of financial reporting systems by the leaked Panama and Paradise Papers, as well as the gathering impact of the COVID-19 pandemic that led to growing government involvements in national and regional economies to protect the health and economic welfares of their respective populations. With its insights into why OFCs persist despite tightening of the rules regarding tax and financial transparency, and its insistence that the blameworthiness of large-scale tax avoidance should be assessed as a global tax problem requiring coordinated and collaborative response from both developing and advanced economies, this book takes a giant step towards genuine international tax reform. It will prove of enormous value to financial institutions, multinational corporations, tax experts, and lawmakers seeking to mend a world increasingly troubled by illicit financial flows, and problems posed by large individual and corporate tax escape artists. Disclaimer: This title is in pre-production and any names, credits or associations are subject to change. The current table of contents and subject matter is for pre-release sample purposes only.

Author : Youssef Cassis
Publisher : Oxford University Press
Page : 316 pages
File Size : 41,99 MB
Release : 2018-07-04
Category : Business & Economics
ISBN : 0192549456

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As well as marking the tenth anniversary of the collapse of Lehman Brothers and the consequent unleashing of the global financial crisis, 2018 is also the year of negotiations on the terms of the UK's exit from the European Union. Within a decade the banking world has witnessed two epochal events with potential to redraw the map of international financial centres: but how much has this map actually changed since 2008, and how is it likely to change in the near future? International Financial Centres after the Global Financial Crisis and Brexit gathers together leading economic historians, geographers, and other social scientists to focus on the post-2008 developments in key international financial centres. It focuses on the shifting hierarchies of New York, London, Paris, Geneva, Zurich, Frankfurt, Singapore, Hong Kong, Beijing, Shanghai, and Tokyo to question whether Asian financial centres have taken advantage of the crisis in the West. It also examines the medium-effects of the crisis, the level of regulation, and the rise of new technology (fintech). By exploring these crucial changes, it questions whether shifts in the financial industry and the global landscape will render these centres unnecessary for the functioning of the global economy, and which cities are likely to emerge as hubs of new financial technology.

Author : Robert E. Litan
Publisher : Rowman & Littlefield
Page : 452 pages
File Size : 47,49 MB
Release : 2004-05-13
Category : Business & Economics
ISBN : 9780815798132

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A Brookings Institution Press, the World Bank, and the International Monetary Fund publication The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauvé (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson).

Author : Graham Bird
Publisher : Springer
Page : 364 pages
File Size : 14,84 MB
Release : 1986-12-03
Category : Business & Economics
ISBN : 1349085790

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This book focuses on the international financial problems of developing countries and the ways in which international financial policy might be used to alleviate them. A strong theme that emerges is that developing countries cannot be treated as a homogenous group from the viewpoint of their international financial problems. At the very least, a distinction needs to be drawn between the newly industrialising countries of Latin America and South-east Asia and the low income countries of Africa and Asia.