Redefining "Offshore" in Latin America
AbstractOffshoring and outsourcing are two terms-often used interchangeably-that comprise an essential element of the modern post-industrial global economy. Analysis of this phenomenon in the United States is often framed in the light of job loss and economic decline relating to the manufacturing or low-end services sectors, but this paper will revisit the traditional offshore industry-that of offshore finance and offshore financial centers (OFCs) and compare OFC offshoring with traditional offshoring in Latin America. This paper argues that some similarities are evident when comparing OFC offshoring with traditional offshoring but many differences exist. Using the framework or "lens" of politics certain OFC offshoring issues and tensions with the onshore world relating to unfair tax competition, money laundering, sovereignty, secrecy, regulation, trust, and reputation are analyzed and are shown to be more onerous, tense and different from those occurring in the mainstream offshoring/outsourcing world. In addition, using the "lens" of cyberspace and e-commerce, and a case study of the Cayman Islands and the Bahamas, this paper argues that the creation of an electronic infrastructure in the OFC offshoring world is as necessary as in the onshore world, but the actors and institutions creating and promoting such infrastructures are different. Future work could pursue more reputable and comparative data gathering to further more rigorous statistical modeling of the relationships both "between" OFCs as they compete for offshore capital, and between offshore and onshore as the onshore world seeks to further lift the veil of offshore financial opacity, particularly related to issues of money laundering. Copyright (c) 2009 Copyright the Author. Journal compilation (c) 2009 Wiley Periodicals, Inc..
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Gatton College of Business and Economics, University of Kentucky in its journal Growth and Change.
Volume (Year): 40 (2009)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0017-4815
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Butkiewicz, James L. & Gordon, Leo-Rey C., 2013. "The Economic Growth Effect of Offshore Banking in Host Territories: Evidence from the Caribbean," World Development, Elsevier, vol. 44(C), pages 165-179.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.