Re-imagining offshore finance : market-dominant small jurisdictions in a globalizing financial world

In this work, Bruner canvasses extant theoretical frameworks used to describe and evaluate the roles of small jurisdictions in cross-border finance. He proposes a new conceptual framework that better captures the characteristics, competitive strategies, and market roles of those achieving global dominance in the marketplace - the "market-dominant small jurisdiction" (MDSJ). Abstract: In this work, Bruner canvasses extant theoretical frameworks used to describe and evaluate the roles of small jurisdictions in cross-border finance. He proposes a new conceptual framework that better captures the characteristics, competitive strategies, and market roles of those achieving global dominance in the marketplace - the "market-dominant small jurisdiction" (MDSJ) Small Jurisdictions Have Become Significant Players In Cross-border Corporate And Financial Services. Their Nature, Legal Status, And Market Roles, However, Remain Under-theorized. Lacking A Sufficiently Nuanced Framework To Describe Their Functions In Cross-border Finance - And The Peculiar Strengths Of Those Achieving Global Dominance In The Marketplace - It Remains Impossible To Evaluate Their Impacts In A Comprehensive Manner. This Book Advances A New Conceptual Framework To Refine The Analysis And Direct It Toward More Productive Inquiries. Bruner Canvasses Extant Theoretical Frameworks Used To Describe And Evaluate The Roles Of Small Jurisdictions In Cross-border Finance. He Then Proposes A New Concept That Better Captures The Characteristics, Competitive Strategies, And Market Roles Of Those Achieving Global Dominance In The Marketplace - The Market-dominant Small Jurisdiction (mdsj). Bruner Identifies The Central Features Giving Rise To Such Jurisdictions' Competitive Strengths - Some Reflect Historical, Cultural, And Geographic Circumstances, While Others Reflect Development Strategies Pursued In Light Of Those Circumstances. Through This Lens, He Evaluates A Range Of Small Jurisdictions That Have Achieved Global Dominance In Specialized Areas Of Cross-border Finance, Including Bermuda, Dubai, Singapore, Hong Kong, Switzerland, And Delaware. Bruner Further Tests The Mdsj Concept's Explanatory Power Through A Broader Comparative Analysis, And He Concludes That The Mdsjs' Significance Will Likely Continue To Grow - As Will The Need For A More Effective Means Of Theorizing Their Roles In Cross-border Finance And The Global Dynamics Generated By Their Ascendance. -- Publisher's Website. Introduction And Overview -- Conceptualizing The Role Of Small Jurisdictions -- What Is An Mdsj? -- Bermuda -- Dubai -- Singapore -- Hong Kong -- Switzerland -- Delaware -- Failed Small Jurisdictions And Successful Large Jurisdictions -- Conclusions. Christopher M. Bruner. Includes Bibliographical References And Index. Over the last century, small jurisdictions have become significant players in cross-border corporate and financial services. Their nature, legal status, and market roles, however, remain under-theorized. Lacking a sufficiently nuanced framework to describe the functions that such jurisdictions perform in cross-border finance—and the peculiar strengths of those achieving global dominance in the marketplace—we find ourselves unable to evaluate their impact and significance in a comprehensive manner. This book advances a new conceptual framework with the dual aim of refining the analysis and directing it toward more productive inquiries. Bruner canvasses extant theoretical frameworks used to describe and evaluate the roles of small jurisdictions in cross-border finance. He then proposes a new concept that better captures the salient characteristics, competitive strategies, and market roles of those achieving global dominance—the “market-dominant small jurisdiction” (MDSJ). Bruner identifies the central, consequential features giving rise to such jurisdictions’ competitive strengths—some of which reflect their historical, cultural, and geographic circumstances, while others reflect development strategies pursued in light of those circumstances. Through this conceptual lens, he evaluates a range of small jurisdictions that have achieved global dominance in specialized areas of cross-border finance, including Bermuda, Dubai, Singapore, Hong Kong, Switzerland, and the U.S. state of Delaware. Bruner further tests the MDSJ concept’s explanatory power through broader comparative analysis, and he concludes that the MDSJs’ significance will likely continue to grow—as will the need for a more effective means of theorizing the roles they play in cross-border finance In this book, Bruner canvasses extant theoretical frameworks used to describe and evaluate the roles of small jurisdictions in cross-border finance. He proposes a new conceptual framework that better captures the characteristics, competitive strategies, and market roles of those achieving global dominance in the marketplace - the ""market-dominant small jurisdiction"" (MDSJ). Bruner identifies the central features giving rise to such jurisdictions' competitive strengths - historical, cultural, and geographical - while reflecting development strategies pursued in light of those circumstances. T