IDEAS home Printed from https://ideas.repec.org/p/ecr/col034/38866.html

Global financial rulemaking and small economies

Author

Listed:
  • Bustillo, Inés
  • Artecona, Raquel

Abstract

This paper addresses some unintended consequences of global financial regulation and international tax evasion prevention and their impact on small economies. It explores how failure to recognize countries’ differing access to finance and varying costs of funding as well as the high costs of complying with financial regulations may overlook some unintended consequences, especially on smaller island countries Then, it discusses the global financial architecture and governance of standard setting bodies and the actions taken to improve representation and legitimacy and remediate some of the unintended deleterious effects on emerging markets and developing economies (EMDEs). Improving governance is ever more urgent at a time when financing the post-2015 agenda will require mobilization of both public and private funds at the national, regional and global levels.

Suggested Citation

  • Bustillo, Inés & Artecona, Raquel, 2015. "Global financial rulemaking and small economies," Studies and Perspectives – ECLAC Office in Washington 38866, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    • Handle: RePEc:ecr:col034:38866
    as

    Download full text from publisher

    File URL: http://repositorio.cepal.org/handle/11362/38866
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Feinberg, Robert M., 2010. "Antidumping and the global financial crisis: the impact on Latin America and the Caribbean," Studies and Perspectives – ECLAC Office in Washington 5063, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Niels Johannesen & Gabriel Zucman, 2014. "The End of Bank Secrecy? An Evaluation of the G20 Tax Haven Crackdown," American Economic Journal: Economic Policy, American Economic Association, vol. 6(1), pages 65-91, February.
    3. Knutson, Ronald D. & Ochoa, René F., 2007. "Status of agrifood regulatory coordination under the North American Free Trade Agreement," Studies and Perspectives – ECLAC Office in Washington 5062, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Scherer, Anne-Christine, 2013. "Organic food market in the United States: Market access opportunities for Latin American and Caribbean producers," Studies and Perspectives – ECLAC Office in Washington 5066, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. -, 2008. "Promoting corporate social responsibility in small and medium enterprises in the Caribbean: survey results," Studies and Perspectives – ECLAC Office in Washington 5067, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Flores, Fernando & Artecona, Raquel, 2009. "Observatorio del control aduanero a las importaciones de Estados Unidos: estándares técnicos," Studies and Perspectives – ECLAC Office in Washington 5070, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chau, Terence & Artecona, Raquel, 2017. "Labour issues in the digital economy," Studies and Perspectives – ECLAC Office in Washington 42046, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Velloso, Helvia & Bustillo, Inés, 2015. "Puerto Rico: Fiscal and economic growth challenges," Studies and Perspectives – ECLAC Office in Washington 39166, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Weiss Fagen, Patricia, 2009. "The migration of health care workers in the Western Hemisphere: issues and impacts," Studies and Perspectives – ECLAC Office in Washington 5072, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Porzecanski, Arturo C., 2009. "Latin America: The Missing Financial Crisis," MPRA Paper 18780, University Library of Munich, Germany.
    5. Menkhoff, Lukas & Miethe, Jakob, 2019. "Tax evasion in new disguise? Examining tax havens' international bank deposits," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 176, pages 53-78.
    6. Franz Reiter & Dominika Langenmayr & Svea Holtmann, 2021. "Avoiding taxes: banks’ use of internal debt," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 28(3), pages 717-745, June.
    7. Becker, Johannes & Wilson, John D., 2023. "Tax competition with two tax instruments — and tax base erosion," Journal of Public Economics, Elsevier, vol. 225(C).
    8. Dominika Langenmayr & Mikayel Tovmasyan & Sebastian Vosseler, 2025. "Bypassing Sanctions: Hide 'N Seek in Tax Havens?," Working Papers 202536, Center for Global Policy Analysis, LeBow College of Business, Drexel University.
    9. James Alm, 2024. "Tax Compliance, Technology, Trust, and Inequality in a Post-Pandemic World," Working Papers 2404, Tulane University, Department of Economics.
    10. David M. Kemme & Bhavik Parikh & Tanja Steigner, 2017. "Tax Havens, Tax Evasion and Tax Information Exchange Agreements in the OECD," European Financial Management, European Financial Management Association, vol. 23(3), pages 519-542, June.
    11. Vincent Bouvatier & Gunther Capelle-Blancard & Anne-Laure Delatte, 2025. "Banks defy gravity in tax havens," Oxford Economic Papers, Oxford University Press, vol. 77(3), pages 885-904.
    12. Garcia-Bernardo, Javier & Janský, Petr, 2024. "Profit shifting of multinational corporations worldwide," World Development, Elsevier, vol. 177(C).
    13. Lompo, Miaba Louise & Ouoba, Marie Madeleine, 2022. "How they hide money? An investigation on tax evasion of large corporations and wealthy taxpayers," MPRA Paper 113410, University Library of Munich, Germany.
    14. Shekhar Aiyar & Manasa Patnam, 2025. "IMF Programs and Financial Flows to Offshore Centers," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(1), pages 239-266, March.
    15. Annette Alstadsæter & Niels Johannesen & Gabriel Zucman, 2019. "Tax Evasion and Inequality," American Economic Review, American Economic Association, vol. 109(6), pages 2073-2103, June.
    16. Guillaume Sekli & Alexandre Chirat, 2022. "Assessing the credibility and fairness of international corporate tax rate harmonization via cooperative game theory," Working Papers hal-04222311, HAL.
    17. Langenmayr, Dominika, 2017. "Voluntary disclosure of evaded taxes — Increasing revenue, or increasing incentives to evade?," Journal of Public Economics, Elsevier, vol. 151(C), pages 110-125.
    18. Juliana Londoño-Vélez & Javier Ávila-Mahecha, 2021. "Enforcing Wealth Taxes in the Developing World: Quasi-experimental Evidence from Colombia," American Economic Review: Insights, American Economic Association, vol. 3(2), pages 131-148, June.
    19. Leenders, Wouter & Lejour, Arjan & Rabaté, Simon & van ’t Riet, Maarten, 2023. "Offshore tax evasion and wealth inequality: Evidence from a tax amnesty in the Netherlands," Journal of Public Economics, Elsevier, vol. 217(C).
    20. Katarzyna Bilicka & Clemens Fuest, 2014. "With which countries do tax havens share information?," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 21(2), pages 175-197, April.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecr:col034:38866. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Biblioteca CEPAL (email available below). General contact details of provider: https://edirc.repec.org/data/eclaccl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.