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Offshore Financial Centers and Regulatory Competition

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 | #979378 in eBooks |  2010-06-16 |  2010-06-16 | File type: PDF

||About the Author|Andrew P. Morriss is the H. Ross and Helen Workman Professor of Law and Business and professor at the Institute of Government and Public Affairs, University of Illinois, Urbana-Champaign.

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,...

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