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Cross-Border Investment in Small International Financial Centers
Author:
Mr. Philip R. Lane null

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and
Mr. Gian M Milesi-Ferretti
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Series:
IMF Working Papers
Volume/Issue:
Volume 2010: Issue 038
Language:
English
Publication Date:
01 Feb 2010
DOI:
https://doi.org/10.5089/9781451962833.001
ISBN:
9781451962833
ISSN:
1018-5941
Pages:
33
Keywords:
WP; portfolio; holding; SIFCs; liability; Capital flows; financial centers; international investment position; BIS securities statistics; vis-à-vis SIFCs; portfolio equity share; SIFC Group; portfolio liability; Financial statements; Foreign direct investment; Offshore financial centers; Portfolio investment; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset. It presents estimates of the foreign asset and liability positions for a number of the most important small financial centers, and places these into context by calculating the importance of these locations in the global aggregate of cross-border investment positions. It also reports some information on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund