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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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What Is an MDSJ?

What Is an MDSJ?

(p.41) 3 What Is an MDSJ?
Re-Imagining Offshore Finance

Christopher M. Bruner

Oxford University Press

This chapter sets out an “ideal type” of “market-dominant small jurisdiction” (MDSJ), identifying the central, consequential features giving rise to such jurisdictions’ competitive strengths and fueling their dominance in cross-border finance. Some of these features reflect the historical, cultural, and geographic circumstances in which the given jurisdiction finds itself, whereas others reflect development strategies consciously pursued in light of those circumstances. Specifically, MDSJs are small and poorly endowed with natural resources; possess legislative autonomy; are culturally proximate to multiple economic powers, and favorably situated geographically vis-à-vis those powers; heavily invest in human capital, professional networks, and related institutional structures; and consciously aim to strike a delicate balance between close collaboration with, and robust oversight of, the financial professional community. The chapter concludes with a brief methodological discussion of the comparative approach employed throughout the remainder of the book.

Keywords:   market-dominant small jurisdictions, ideal type, natural resources, legislative autonomy, geography, human capital, financial regulation, comparative methodology

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