The end of the great inversion: Offshore national banks and the global financial crisis
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 pro...
| Autori principali: | , |
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| Natura: | Journal article |
| Lingua: | English |
| Pubblicazione: |
Oxford University Press
2020
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| _version_ | 1826258513102372864 |
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| author | Haberly, D Wojcik, D |
| author_facet | Haberly, D Wojcik, D |
| author_sort | Haberly, D |
| collection | OXFORD |
| description | 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 (i) were likely more responsible for pre-crisis regulatory failures in a home than host regulator capacity and (ii) internalized far greater domestic fiscal risks than in previous crises. |
| first_indexed | 2024-03-06T18:35:08Z |
| format | Journal article |
| id | oxford-uuid:0af5658e-cbe3-48b0-b94d-b41779c6153b |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T18:35:08Z |
| publishDate | 2020 |
| publisher | Oxford University Press |
| record_format | dspace |
| spelling | oxford-uuid:0af5658e-cbe3-48b0-b94d-b41779c6153b2022-03-26T09:26:57ZThe end of the great inversion: Offshore national banks and the global financial crisisJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:0af5658e-cbe3-48b0-b94d-b41779c6153bEnglishSymplectic ElementsOxford University Press2020Haberly, DWojcik, DHere 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 (i) were likely more responsible for pre-crisis regulatory failures in a home than host regulator capacity and (ii) internalized far greater domestic fiscal risks than in previous crises. |
| spellingShingle | Haberly, D Wojcik, D The end of the great inversion: Offshore national banks and the global financial crisis |
| title | The end of the great inversion: Offshore national banks and the global financial crisis |
| title_full | The end of the great inversion: Offshore national banks and the global financial crisis |
| title_fullStr | The end of the great inversion: Offshore national banks and the global financial crisis |
| title_full_unstemmed | The end of the great inversion: Offshore national banks and the global financial crisis |
| title_short | The end of the great inversion: Offshore national banks and the global financial crisis |
| title_sort | end of the great inversion offshore national banks and the global financial crisis |
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