References of "Région et développement = Region and development = Region y desarollo"
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See detailMesures des externalités technologiques et pécuniaires dans un cluster financier
Bourgain, Arnaud UL; Catin, Maurice; Pieretti, Patrice UL

in Région et développement = Region and development = Region y desarollo (2009), 30

In this paper, we estimate agglomeration effects which arise in the Luxembourg banking and services industries. The empirical model we use is inspired from Midelfart-Knarvik and Steen (1999). Empirical ... [more ▼]

In this paper, we estimate agglomeration effects which arise in the Luxembourg banking and services industries. The empirical model we use is inspired from Midelfart-Knarvik and Steen (1999). Empirical evidence of technological and pecuniary externalities is found between the financial industry and the computer and business services. [less ▲]

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See detailDiscipliner les centres financiers offshore : Incitation par la pression internationale
Bourgain, Arnaud UL; Pieretti, Patrice UL

in Région et développement = Region and development = Region y desarollo (2007), 26

Since Offshore Financial Centers (OFCs) generally provide bank secrecy to foreign investors they are likely to attract criminal money. Recently however, academic writings have pointed to the fact that ... [more ▼]

Since Offshore Financial Centers (OFCs) generally provide bank secrecy to foreign investors they are likely to attract criminal money. Recently however, academic writings have pointed to the fact that OFCs might have beneficial economic effects. In this context, we address the question whether pressure exerted by international organizations on offshore financial centers may be effective enough to enforce compliance with anti-money laundering regulations. Supposing that onshore and offshore banking centers compete with each other, we show that if costs of being lax (in particular, reputation costs) in customer identification are high enough, offshore banks have an incentive to comply credibly and that in spite of the existence of bank secrecy. Furthermore, the likelihood that an offshore bank credibly opts for monitoring foreign deposits increases with the degree of international financial integration and with the tax difference between onshore and offshore centers. [less ▲]

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