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Cross-Border Investment in Small International Financial Centers

33 Pages Posted: 2 Mar 2010  

Gian Maria Maria Milesi-Ferretti

International Monetary Fund (IMF); National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Philip R. R. Lane

Trinity College (Dublin) - Department of Economics; Centre for Economic Policy Research (CEPR)

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Date Written: February 2010

Abstract

This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset. It presents estimates of the foreign asset and liability positions for a number of the most important small financial centers, and places these into context by calculating the importance of these locations in the global aggregate of cross-border investment positions. It also reports some information on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.

Keywords: Asset management, Banking, Capital flows, Cross country analysis, Financial institutions, Foreign direct investment, International financial system

Suggested Citation

Milesi-Ferretti, Gian Maria Maria and Lane, Philip R. R., Cross-Border Investment in Small International Financial Centers (February 2010). IMF Working Papers, Vol. , pp. 1-32, 2010. Available at SSRN: https://ssrn.com/abstract=1562406

Gian Maria Milesi-Ferretti (Contact Author)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Centre for Economic Policy Research (CEPR)

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London, EC1V 3PZ
United Kingdom

International Monetary Fund (IMF) ( email )

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Room 9-700
Washington, DC 20431
United States
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202-589-7441 (Fax)

Philip R. Lane

Trinity College (Dublin) - Department of Economics ( email )

Trinity College
Dublin 2
Ireland
+353 1 608 2259 (Phone)
+353 1 677 2503 (Fax)

Centre for Economic Policy Research (CEPR)

77 Bastwick Street
London, EC1V 3PZ
United Kingdom

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