Offshore Finance and Global Governance


Book Description

This book analyzes shifting international taxation strategies in pursuit of tax nomads, individuals and companies who minimize their tax obligations among multiple countries. Focusing on the efforts of the United States, the collective endeavours of the European Union and the global initiative of the OECD under G20 guidance, it investigates their attempts to understand and control the mechanisms employed by such nomads. The author directs particular attention to intellectual property, used by multinational corporations to move income from high-tax to low-tax locations. Contrary to claims that globalization hinders tax collection, Vlcek argues that state sovereignty and state power remain the defining characteristic of international taxation. The EU and OECD in turn, he concludes, are leveraging cooperation with the US to force other countries to share taxpayer information with them. This significant work will interest economists, political scientists and tax experts. /div




The Dynamics of Global Economic Governance


Book Description

ÔThis book is an exceptionally interesting and well-researched analysis of one of the most important reforms in global governance that have been put into place in the wake of the global financial crisis that began in 2007. Eccleston insightfully draws on and contributes to theories of global governance, explaining the surprisingly innovative and successful aspects of the global arrangements for combating tax evasion while also highlighting their deficiencies.Õ Ð Tony Porter, McMaster University, Canada ÔIn the atmosphere of fiscal emergency after the financial crisis, international tax policy has become a critical concern. There is no better guide to inter-linked political and economic challenges that result than Richard EcclestonÕs new book, The Dynamics of Global Economic Governance. Eccleston provides a detailed and authoritative guide to global tax governance after the financial crisis, and makes a highly persuasive case that the current international tax regime is fundamentally flawed in its efforts to combat tax evasion.Õ Ð Jason Sharman, Griffith University, Australia The financial crisis that engulfed global markets in 2008 created an acute need for improved international economic cooperation. Despite the G20Õs prominent coordination role, the regulatory response to the crisis has varied considerably across governance arenas. This book focuses on international taxation and examines how the financial crisis prompted renewed attempts to enhance international tax transparency and confront tax havens. It highlights the complexity of international regime change and the significance of national and financial interests, international organizations, domestic politics and the emerging G20 leaders forum in this process. This timely book highlights the challenges in post-financial crisis global economic governance, information that will strongly appeal to scholars and graduate students in the fields of political science, international political economy, global governance, international taxation and law. Stakeholders in the international tax regime including diplomats and tax administrators, international organizations, NGO and business representatives will also find plenty of enriching information in this study.




The Globalized Governance of Finance


Book Description

Big banks are capable of wreaking havoc on the global economy, and governments have often felt powerless to stop them. Regulators have responded by developing coordinated programs to handle banks, insurers, broker dealers, shadow banks and other businesses that can blow up in a crisis. This program began informally and undemocratically, and has developed into something much more organized, formalized and predictable, even though it has never been legally enforceable. David Zaring examines the realities of the current international financial system and concludes that in fact this is a well-ordered and functioning regulatory environment: the international financial system enjoys a substantial degree of compliance, and operates predictably and harmoniously. As a result, perhaps this could serve as a paradigm for future global governance. Zaring explores three aspects of international financial regulation that can inform global governance: harmonization through rules, cooperation on enforcement and agreement on fundamental principles.




Global Governance, Conflict and Resistance


Book Description

Since the turn of the millennium, resistance to the liberal project of global governance has come to occupy centre stage in global and international politics. The Battle of Seattle, the 9/11 attacks on New York and Washington and the Bush administration's ambivalent attitude towards multilateralism can all be thought of as conspicuous instances of the growing challenge to global governance. Global Governance, Conflict and Resistance provides a wide-ranging series of analyses of such challenges.




Transnational Financial Associations and the Governance of Global Finance


Book Description

The role of business in global governance is now widely recognized, but exploration of its role in global financial governance has been more haphazard than systematic. This book provides the first comprehensive analysis of the role of transnational financial associations (TFAs) in the organization of global finance. This book develops three theoretical themes of assemblage, functionality, and power as enrolment. These themes challenge approaches that treat financial power as emanating from a single location or force. Whilst existing approaches tend to treat TFAs as irrelevant or as merely transmitting power originating elsewhere, this book argues that power must be created by painstakingly assembling actors, networks, and objects that are often quite autonomous and working at cross purposes to one another--a process in which TFAs play a central role. The book explores these themes in chapters examining the roles of TFAs in interacting with public authorities, constructing global financial markets, and creating financial communities. The authors additionally analyse the roles of TFAs in the European Union, in the Global South, and in promoting goals other than profitability, including Islamic finance, microfinancing, savings banks and cooperatives. Making a distinctive contribution to our understanding of global finance and global governance, Transnational Financial Associations and the Governance of Global Finance is an important book for students and scholars of international political economy, finance, global governance and international relations.




Handbook of Global Economic Governance


Book Description

Since the summer of 2007, the world scenario has been dominated by the US sub-prime mortgage crisis and its repercussions on global financial markets and economic growth. As banks around the world wrote down their losses and governments intervened to rescue domestic financial institutions, financial distress severely hit the real economy leading to what has been widely defined as the worst recession since the 1930s. Under these conditions, along with the immediate concern for stemming the effects of the crisis, policy-makers around the world have been debating the long-term measures that have to be adopted in order to reduce the likelihood of future crises and to ensure stable economic growth. Although this debate has not yet produced significant transformations, it indicates a renewed concern about the institutional architecture that is meant to govern the global economic and financial system. This book tackles the issue of what the governance of the global economic and financial system looks like and what the prospects for its reform are. Specifically, the book will address the following three main themes: Governance: What is governance in the international economic system? What forms does it take? How did it come about? How can we study it?; Functions of governance: What are the functions of global economic governance? Who performs them? What are the rules and mechanisms that make global governance possible? Problems and prospects of governance: What are the problems in global economic governance? Is there a trade-off between legitimacy and efficiency? What are the prospects for reform of global economic governance in the aftermath of the global financial crisis? This book will: _ Provide a thorough analysis of the issues at stake in designing international rules and institutions able to govern the global economy; _ Illustrate and analyze virtually all the main institutions, rules, and arrangements that make up global economic governance, inscribing them within the function these institutions, rules, and arrangements are meant to perform; _ Discuss the problems that affect today’s global economic governance and assess alternative proposals to reform the international financial architecture.




Offshore Finance and Small States


Book Description

The book contributes to wider debates involving globalization, development and international finance with its analysis of the under-researched topic of offshore finance."--BOOK JACKET.




Global Governance in Crisis


Book Description

New practices and institutions of global governance are often one of the most enduring consequences of global crises. The contemporary architecture of global governance has been widely criticized for failing to prevent the global financial crisis and Eurozone debt crises, for failing to provide robust international crisis management and leadership, and for failing to generate a consensus around new ideas for regulating markets in the broader public interest. Global Governance in Crisis explores the impact of the global financial crisis of 2008-2009 on the architecture and practice of contemporary global governance, and traces the long-term implications of the crisis for the future of the global order. Combining innovative theoretical approaches with rich empirical cases, the book examines how the impact of the global financial crisis has played out across a range of global governance domains, including development, finance and debt, trade, and security. This book was published as a special issue of Global Society.




Money Laundering, Terrorist Financing, and Tax Evasion


Book Description

This book explains the consequences of global policy initiatives against money laundering, terrorist financing, and tax evasion on financial centres located in offshore jurisdictions in the Caribbean region. Adding to the existing literature by detailing international policy initiatives against money laundering and tax evasion from the early 1920s to date, this book examines the factors that have contributed to their gradual development over time, their role in contributing to money laundering, terrorist financing, and tax evasion, the international policy initiatives that came about to address these financial crimes, as well as the consequences of these policy initiatives on the legislative systems, institutions, offshore business sectors, and economies of these financial centres.




Global Financial Governance Confronts the Rising Powers


Book Description

Global Financial Governance Confronts the Rising Powers addresses the challenge that the rising powers pose for global governance, substantively and institutionally, in the domain of financial and macroeconomic cooperation. It examines the issues that are before the G20 that are of particular concern to these newly influential countries and how international financial institutions and financial standard-setting bodies have responded. With authors who are mainly from the large emerging market countries, the book presents rising power perspectives on financial policies and governance that should be of keen interest to advanced countries, established and evolving institutions, and the G20.