مراکز مالی فراساحلی و رقابت‌های نظارتی

Offshore 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. It Is Curious That Governments Want To Regulate Private Monopolies But, At The Same Time, Seek A Monopoly Of Regulation. Economic Theory And Evidence Suggest That Regulatory Competition Delivers Better Results--especially Competition Between Private Regulators, But Also Between State Regulators. This Timely Book Shows Why We Should Welcome And Not Attack Offshore Financial Centers For The Regulatory And Tax Competition They Deliver.--philip Booth, Editorial And Programme Director, Institute Of Economic Affairs, And Professor Of Insurance And Risk Management, Cass Business School, City University, London Offshore Financial Centers And Regulatory Competition Is A Must-read For Informed Policymaking On The Future Of International Finance. The Essays By The Leading Authorities Included In This Volume Provide Insightful Commentary About Whether Offshore Financial Centers Are Leading A Race To The Bottom Or Providing Necessary Discipline For Financial Regulation And Taxation.--larry Ribstein, Mildred Van Voorhis Jones Chair And Associate Dean For Research, University Of Illinois College Of Law The Recent Financial Crisis Had Its Origins In The Flawed Policies Of Large Continental Economies. Jurisdictions That Proved To Have More Robust Markets, Like Hong Kong, Australia, Or Canada, Show That Policymaking Competition Is Essential To A Thriving Economy Offshore Financial Centers Also Play A Vital Role In That Competitive Market. Like Boutique Financial Firms, They Innovate And Offer A Sharp Competitive Focus, Because They Succeed Or Fail As Countries On The Strength Of Their Regulatory Regime. This Book Explores That Important Contribution.--bill Stacey, Chairman, Lion Rock Institute, Hong Kong, And Partner, Aviate Global. The Expansion Of Offshore Centers Has Played A Significant Role In The Evolution Of Global Financial Markets. The Essays In This Volume Survey Each Of The Major Issues And Institutions Involved In Adapting To A World Where Ofcs Play A Significant Role, As Well As Issues That Ofcs Have Faced In The Process Of Adopting Global Standards. This Volume Is A Must-read For Anyone Interested In The Evolution Of The Global Financial System.--yusuke Horiguchi, First Deputy Managing Director, Institute For International Finance, And Former Director, Asia Pacific Department, International Monetary Fund At A Time When Ofcs Are Under Ill-informed Attack Around The World, These Essays Focus On The Real Issues In The Debate Over International Financial Transactions And Highlight How Ofcs Play A Vital Role In, And Make An Important Contribution To, The Global Economy.--timothy Ridley, Past Chairman, Cayman Islands Monetary Authority, And Former Joint Senior Partner, Maples & Calder--jacket. Introduction / Andrew P. Morriss -- Offshore Finance And Onshore Markets : Racing To The Bottom, Or Moving Toward Efficient? / Anna Manasco Dionne And Jonathan R. Macey -- The Legitimacy Of The Offshore Financial Sector : A Legal Perspective / Rose-marie Belle Antoine -- Regulating Tax Competition In Offshore Financial Centers / Craig M. Boise -- The International Monetary Fund And The Regulation Of Offshore Centers / Richard K. Gordon -- The Role Of Offshore Financial Centers In Regulatory Competition / Andrew P. Morriss. Andrew P. Morriss, Editor. Includes Bibliographical References And Index.