| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14756 |
| DP14756 Grey Zones in Global Finance: the distorted Geography of Cross-Border Investments | |
| Anne-Laure Delatte; Vincent Vicard; Amélie Guillin | |
| 发表日期 | 2020-05-14 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Tax avoidance schemes generate artificially complex cross-border financial structures inflating measured international investment stocks in tax havens. Using a standard gravity framework, we estimate that about 40\% of global assets (FDI, portfolio equity and debt) are 'abnormal' - unexplained - stocks. Abnormal stocks are increasing over time and concentrated in a limited number of jurisdictions. Six jurisdictions including three European countries are the largest contributors: Cayman, Bermuda, Luxembourg, Hong Kong, Ireland and the Netherlands. Interestingly, the Luxleaks in 2014 do not appear to have diverted cross-border investments away. |
| 主题 | Financial Economics ; International Macroeconomics and Finance |
| 关键词 | Cross-border investments Capital openness Tax havens Gravity equation |
| URL | https://cepr.org/publications/dp14756 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543682 |
| 推荐引用方式 GB/T 7714 | Anne-Laure Delatte,Vincent Vicard,Amélie Guillin. DP14756 Grey Zones in Global Finance: the distorted Geography of Cross-Border Investments. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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