Haberly, Daniel and Wójcik, Dariusz (2020) The end of the great inversion: offshore national banks and the global financial crisis. Journal of Economic Geography, 20 (6). pp. 1263-1292. ISSN 1468-2702
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Abstract
Here we present a novel analysis of the geographic evolution of international banking since 1980, which addresses still-unanswered questions about the role of offshore centers in the global financial crisis, and the post-crisis stability of these centers. We show that post-1980 regulatory shifts prompted a “Great Inversion” of offshore banking, wherein conventional Euromarket activity was partially overshadowed by the growth of European ‘midshore’ center national banks. As a result, offshore jurisdictions 1) were likely more responsible for pre-crisis regulatory failures in a home than host regulator capacity, and 2) internalized far greater domestic fiscal risks than in previous crises.
Item Type: | Article |
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Schools and Departments: | School of Global Studies > Geography |
SWORD Depositor: | Mx Elements Account |
Depositing User: | Mx Elements Account |
Date Deposited: | 15 Sep 2020 06:47 |
Last Modified: | 18 Jan 2021 15:30 |
URI: | http://sro.sussex.ac.uk/id/eprint/93773 |
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