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Discussion Paper Details

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Title: Cross-Border Investment in Small International Financial Centers

Author(s): Philip R. Lane and Gian Maria Milesi-Ferretti

Publication Date: February 2010

Keyword(s): Financial centers, foreign assets and portfolio investment

Programme Area(s): International Macroeconomics

Abstract: We document and assess the role of small financial centers in the international financial system using a newly-assembled dataset. We present estimates of the foreign asset and liability positions for a number of the most important small financial centers, and place these into context by calculating the importance of these locations in the global aggregate of cross-border investment positions. We also report data on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.

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Bibliographic Reference

Lane, P and Milesi-Ferretti, G. 2010. 'Cross-Border Investment in Small International Financial Centers'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=7694