Microstates and Offshore Finance: the Political Economy of Vulnerability

Mark Hampton ()

Working Papers from Portsmouth University - Department of Economics

Abstract: Offshore Finance Centres (OFCs) have proliferated since the 1960s and many small jurisdictions and microstates around the world now host OFCs as part of the increasing globalisation of financial capital. This paper argues that microstates are becoming increasing vulnerable to forces outside of their control resulting in transit crime such as money laundering and flows of illegal flight capital.

Keywords: ECONOMIC DEVELOPMENT; TAXATION; INTERNATIONAL ECONOMY; INTERNATIONAL FINANCIAL MARKET (search for similar items in EconPapers)
JEL-codes: F30 G10 O16 R10 R50 (search for similar items in EconPapers)
Pages: 21 pages
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:fth:portec:128

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