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Oxford University Press Offshore Finance and State Power

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£83.00 £75.47 £77.11 £78.75 £80.40 £82.04 £83.69 26 April 2026 13 May 2026 31 May 2026 18 June 2026 06 July 2026

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Description

Offshore financial centers such as Luxembourg, the Cayman Islands or the City of London provide non-residents with a legal framework that is strong on property rights and soft on taxation and regulation. Building on a historical-institutionalist comparison of Britain, Germany, Brazil, and Mexico, Offshore Finance and State Power asks how these offshore financial services affect the power of the state. Combining a concept analysis with empirical research, the book finds that economic actors go offshore to create money more than to hide it. Legal offshore banking trumps tax planning or money laundering in its impact on state power. Offshore Finance and State Power also reveals that the relationship between the two is not straightforward. Offshore finance can limit state power by transmitting the volatility of unregulated offshore banking into the domestic economy. Yet, counterintuitively, offshore finance can also enhance state power. It provides governments with an extraterritorial vehicle to cover up political conflicts over how to finance the state and to mitigate class conflict. To which extent a state can put offshore finances at its own service, depends on a country's domestic elite constellation and the tax and bank bargains they have forged throughout history.

Product Specifications

Format
hardcover
Domain
Amazon UK
Release Date
09 February 2023
Listed Since
26 September 2022

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