Offshore Strategies in Global Political Economy: Small Islands and the Case of the EU and OECD Harmful Tax Competition Initiatives

Richard Woodward

    Research output: Contribution to journalArticlepeer-review

    11 Citations (Scopus)

    Abstract

    This article investigates how recent attempts by the European Union (EU) and the Organisation for Economic Co-operation and Development (OECD) to clamp down on harmful tax competition will affect small island economies with offshore financial centres (OFCs). It argues that although there are legitimate concerns about the initiatives, the likelihood that small island OFCs will disappear is remote. A confluence of factors have forced the EU and OECD to dilute their original proposals to the extent that while some marginal OFCs may be driven out of existence, more sophisticated OFCs will be unharmed and may even benefit from this supposed regulatory offensive.
    Original languageEnglish
    Pages (from-to)685-699
    Number of pages15
    JournalCambridge Review of International Affairs
    Volume19
    Issue number4
    Early online date22 Dec 2006
    DOIs
    Publication statusPublished - 2006

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