Template-Type: ReDIF-Article 1.0
Author-Name: Pamela Pogliani
Author-Name: Goetz von Peter
Author-Name: Philip Wooldridge
Title: The outsize role of cross-border financial centres
Abstract: Financial centres that cater predominantly to non-residents account for an outsize share of cross-border financial activity. These so-called cross-border financial centres are typically located in small economies, in contrast to global financial centres located in large economies. Economies of scale and scope benefit global centres, but physical distance works against the tendency of financial activity to concentrate. So do regulation and taxation, which have set cross-border financial centres apart and propelled their rise. At the same time, these centres pose challenges to regulatory consistency across countries and complicate the analysis of capital flows.
Journal: BIS Quarterly Review
File-URL: http://www.bis.org/publ/qtrpdf/r_qt2206b.pdf
File-Format: Application/pdf
File-URL: http://www.bis.org/publ/qtrpdf/r_qt2206b.htm
File-Format: text/html
Year: 2022
Month: June
Classification-JEL: F21, F36, F38, G15
Handle: RePEc:bis:bisqtr:2206b