Roger G. Ibbotson, Peng Chen, & Kevin X. Zhu
Available at http://ssrn.com/abstract=158155
CFR's quarterly round up of academic texts making headlines...
Two recent literature surveys on hedge funds offer useful summaries of the relevant academic literatures.
This paper examines the literature on offshore financial centres and multilateral efforts at limiting competition. It concludes that, without strong enforcement capacities from the very beginning, the multilateral approach is vulnerable to bilateralism. The paper proposes several solutions, including the creation of a unique international body dealing with all issues raised by OFCs, or the adoption of a “unitary taxation” system or a “Financial Transparency Index.”