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Re-Imagining Offshore FinanceMarket-Dominant Small Jurisdictions in a Globalizing Financial World$
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Christopher M. Bruner

Print publication date: 2017

Print ISBN-13: 9780190466879

Published to Oxford Scholarship Online: December 2016

DOI: 10.1093/acprof:oso/9780190466879.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 18 January 2022

Conceptualizing the Role of Small Jurisdictions

Conceptualizing the Role of Small Jurisdictions

(p.15) 2 Conceptualizing the Role of Small Jurisdictions
Re-Imagining Offshore Finance

Christopher M. Bruner

Oxford University Press

A number of literatures have addressed the role of small jurisdictions in cross-border finance, or spoken generally to the market terrain they inhabit. This chapter discusses a number of theoretical frameworks, evaluating their capacity to account for the range of small jurisdictions achieving market dominance in cross-border finance. It begins with the globalization literature and then turns to various characterizations applied to small jurisdictions, including tax havens, offshore financial centers, microstates, and global cities. Finally, the chapter assesses the English legal origins of many such jurisdictions. Bruner concludes that none of these theoretical frameworks can accommodate the range of salient features exhibited by those small jurisdictions achieving global dominance in cross-border finance. Each, however, offers important insights contributing to the alternative framework developed in this book.

Keywords:   globalization, tax havens, offshore financial centers, microstates, global cities, English legal origins, capital mobility, regulatory competition

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