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SUBJECT:
Small financial centres (SFCs) and their role in the world financial system.
SIGNIFICANCE:
Small financial centres play a disproportionate role in the global financial system, particularly in the area of financial intermediation. There is little dispute that their activities may have triggered or at least magnified recent financial crises, but lack of transparency surrounding these centres makes it difficult to assess their true significance, and craft and implement appropriate regulatory responses.
Word Count (approx): 1169
Headings
- Global hedge fund activities
- Headquarters services
- Insurance
- Off balance sheet vehicles and structured finance
- Foreign direct investment and portfolio round tripping
- Costs and benefits
- Tax haven crackdown
Primary Keywords: INT, Bermuda, Cayman Islands, China, EU, Hong Kong, IMF-World Bank, India, International, Mauritius, OECD, United States, economy, capital flows, corporate, regulation
Secondary Keywords: France, Germany, Singapore, Switzerland, policy
What is this article?
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