Is Panama really your tax haven? Secrecy jurisdictions and the countries they harm
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F22%3A10420563" target="_blank" >RIV/00216208:11230/22:10420563 - isvavai.cz</a>
Result on the web
<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=mTKiZH~bXv" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=mTKiZH~bXv</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1111/rego.12380" target="_blank" >10.1111/rego.12380</a>
Alternative languages
Result language
angličtina
Original language name
Is Panama really your tax haven? Secrecy jurisdictions and the countries they harm
Original language description
Secrecy jurisdictions provide opportunities for nonresidents to escape the laws and regulations of their home countries by allowing them to hide their identities. In this paper we quantify which jurisdictions supply secrecy to which countries and assess how successful countries are in targeting that secrecy with their policies. To that objective, we develop the Bilateral Financial Secrecy Index (BFSI) which maps the financial secrecy faced by 82 countries and supplied to them by 131 jurisdictions, thus providing the study of the world of financial secrecy with unprecedented nuance. We then use the BFSI to evaluate the progress of two recent policy initiatives designed to curb financial secrecy: automatic information exchange (AIE) and the blacklisting of noncooperative jurisdictions. By embedding the role of power in the center of our analytical framework, we reconcile the apparently conflicting findings of the existing literature on the effectiveness of these policies. We show that secrecy jurisdictions engage in selective resistance depending on whom they are dealing with, and that the hypocrisy of Organisation for Economic Co-Operation and Development member countries lies at the heart of the design and operation of the AIE system and the blacklisting exercise. We argue that focusing policy on the most relevant secrecy jurisdictions, which - despite its pivotal role in recent offshore document leaks - only rarely include Panama, would enable countries to more effectively mitigate the harm caused by financial secrecy.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
<a href="/en/project/GA18-21011S" target="_blank" >GA18-21011S: Tax havens and financial secrecy</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Regulation and Governance
ISSN
1748-5983
e-ISSN
1748-5991
Volume of the periodical
16
Issue of the periodical within the volume
3
Country of publishing house
AU - AUSTRALIA
Number of pages
32
Pages from-to
673-704
UT code for WoS article
000607624300001
EID of the result in the Scopus database
2-s2.0-85099345727