Offshore Finance Centres and Rapid Complex Constant Change

Hampton, Mark P. (2007) Offshore Finance Centres and Rapid Complex Constant Change. Working paper. Kent Business School, University of Kent, Canterbury (Full text available)

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Abstract

From 1998 Offshore Finance Centres (OFCs) faced complex, overlapping initiatives from the OECD, IMF, FATF and EU. This paper contends that OFCs faced unprecedented Rapid Complex Constant Change (RC3) which had significant impacts on their host governments. The ‘four spaces’ concept – regulatory, fiscal, secrecy and political space – is used to analyse RC3. Two aspects are examined: first, the impact of RC3 on host governments; and, second, the degree of the hosts’ control over the industry. A Jersey case study illustrates the contrast between official narratives of proactive government and alternative narratives of the OFC being driven by the international banks. Finally, lessons are suggested for host governments.

Item Type: Monograph (Working paper)
Additional information: Working Paper No. 132
Uncontrolled keywords: tax havens; financial services; globalisation; international finance; island economies; governanc
Subjects: H Social Sciences > H Social Sciences (General)
J Political Science > JC Political theory
H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > Kent Business School
Depositing User: Mark Hampton
Date Deposited: 04 Nov 2009 12:22
Last Modified: 21 May 2014 15:13
Resource URI: http://kar.kent.ac.uk/id/eprint/23114 (The current URI for this page, for reference purposes)
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