Tax havens : how globalization really works

Resource Information

The work Tax havens : how globalization really works represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Books.

Label

Tax havens : how globalization really works

Creator

• Chavagneux, C
• Murphy, R
• Palan, R

Subject

• tax evasion
• economic crisis
• tax haven
• globalization
• tax avoidance

Language

eng

Summary

The authors provide an up-to-date evaluation of the role and function of tax havens in the global financial system - their history, inner workings, impact, extent, and enforcement. They make clear that while, individually, tax havens may appear insignificant, together they have a major impact on the global economy. Holding up to $13 trillion of personal wealth - the equivalent of the annual U.S. Gross National Product - and serving as the legal home of two million corporate entities and half of all international lending banks, tax havens also skew the distribution of globalization's costs and benefits to the detriment of developing economies. The first comprehensive account of these entities, this book challenges much of the conventional wisdom about tax havens. Rather than operating at the margins of the world economy, tax havens are integral to it, according to the authors. More than simple conduits for tax avoidance and evasion, tax havens actually belong to the broad world of finance, to the business of managing the monetary resources of individuals, organizations, and countries. They have become among the most powerful instruments of globalization, one of the principal causes of global financial instability, and one of the large political issues of our times

Geographic coverage

International

Index

no index present

Language note

English

Literary form

non fiction

Series statement

Cornell studies in money