Front Matter
Author: Ahmed Zoromé

Front Matter Page

Monetary and Capital Markets Department

Authorized for distribution by R. Barry Johnston

Contents

  • I. Introduction

  • II. Definitions of an OFC: A Survey of the Literature

  • III. Limitations of the Definitions Proposed So Far

  • IV. Definition of OFCs and Empirical Indicators

    • A. Proposed Definition

    • B. Indicator of OFC Status

    • C. Proxy Indicators of OFC Status

      • Proxy indicator based on CPIS (CPIS Assets)

      • Proxy indicator based on international investment position data

    • D. Data Description and Issues

      • Data description

      • Data issues

    • E. Econometric Estimations

    • F. Empirical Results

      • Results for high-income countries and jurisdictions

      • Results for low-and middle-income countries and jurisdictions

  • V. Conclusion

  • Tables

  • 1. OFC Definitions

  • 2. Summary of Data Issues Related to the Measures of OFC Status

  • 3. High Income Countries, Max (CPIS, IIP), Equation 1

  • 4. High Income Countries, Filtered IIP, Equation 2

  • 5. Low and Middle Income Countries, Max (CPIS, IIP), Equation 1

  • 6. Low and Middle Income Countries, Filtered IIP, Equation 2

  • 7. Summary

  • 8. High Income Countries–Balance of Payments Financial Services Data

  • 9. Low-and Middle-Income Countries–Balance of Payments Financial Services Data

  • 9. (Contd) Low and Middle Income Countries–Balance of Payments Financial Services Data

  • 10. Lists of OFC According to the IMF; and Financial Stability Forum

  • Figures

  • 1. Ratio of Net Financial Services Exports to GDP—High-Income Countries

  • 2. Ratio of Net Financial Services Exports to GDP—Low-and Middle-Income Countries

  • Appendixes

  • I: OFCs—Their Origins and Activities

  • II: Definitions of OFCs Cited in the Survey of the Literature

  • III: Data Description and Issues

  • References

Concept of Offshore Financial Centers: In Search of an Operational Definition
Author: Ahmed Zoromé