Cross-Border Investment in Small International Financial Centers
34 Pages Posted: 1 Mar 2010
Date Written: February 2010
We document and assess the role of small financial centers in the international financial system using a newly-assembled dataset. We present estimates of the foreign asset and liability positions for a number of the most important small financial centers, and place these into context by calculating the importance of these locations in the global aggregate of cross-border investment positions. We also report data on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.
Keywords: Financial centers, foreign assets, portfolio investment
JEL Classification: F31, F32
Suggested Citation: Suggested Citation