Description

This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset. It presents estimates of the foreign asset and liability positions for a number of the most important small financial centers, and places these into context by calculating the importance of these locations in the global aggregate of cross-border investment positions. It also reports some information on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.

Taxonomy

Foreign exchange , International financial system

More publications in this series: Working Papers

More publications by: Gian Maria Milesi-Ferretti ; Philip R. Lane