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International Banking and Financial Centers

  • Book
  • © 1989

Overview

Editors:
  1. Yoon S. Park

    1. School of Government and Business Administration, George Washington University, USA

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  2. Musa Essayyad

    1. School of Business, University of Alaska, Anchorage, USA

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    You can also search for this editor in PubMed   Google Scholar

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Table of contents (16 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Recent Developments in International Financial Centers

    1. Front Matter

      Pages 1-1
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    2. Introduction to International Financial Centers: Their Origin and Recent Developments

      • Yoon S. Park
      Pages 3-9

    3. The Feasibility of Establishing an International Financial Center: The Case of Anchorage

      • Musa Essayyad
      Pages 11-47

    4. The Prerequisites for an International Financial Center

      • Michael A. Goldberg, Robert Helsley, Maurice D. Levi
      Pages 49-65

    5. The International Financial Centers: Developing the Competitive Edge

      • Sarkis J. Khoury
      Pages 67-82

    6. Hong Kong as an International Financial Center: A Hong Kong Banker’s Perspective

      • K. P. David
      Pages 83-87

    7. Arab Banks Adapting to New Trends in the International Financial Centers

      • Hikmat Nashashibi
      Pages 89-96

    8. International Banking Centers in Asia

      • Francis P. Sing
      Pages 97-113

    9. China’s Financial Reform and Its Impact on International Financial Centers

      • Hsiu-Kwang Wu
      Pages 115-128

  3. Cost/Benefit Analysis of International Financial Centers

    1. Front Matter

      Pages 129-129
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    2. The Costs and Benefits of Establishing an International Banking Center

      • Anindya K. Bhattacharya
      Pages 131-142

    3. The Economic Impact of Offshore Banking Centers on the Host Countries

      • Soon Young Chang
      Pages 143-157

    4. Cost/Benefit Analysis of Establishing an Offshore Banking Center: The Case of Anchorage

      • Musa Essayyad, M. M. Haddad, Omar Benkato
      Pages 159-173

    5. The Benefits and Costs of Hosting Financial Centers

      • Adrian E. Tschoegl
      Pages 175-187

  4. New Appraisal of International Banking Facilities

    1. Front Matter

      Pages 189-189
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    2. The Development of International Banking Facilities

      • Sydney J. Key, Henry S. Terrell
      Pages 191-217

    3. International Banking Facilities Revisited

      • Michael H. Moffett, Arthur I. Stonehill
      Pages 219-232

  5. Global Perspective on International Financial Centers

    1. Front Matter

      Pages 233-233
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    2. Recent Functional Changes in International Finance and Their Implications for International Financial Centers

      • Yoon S. Park
      Pages 235-246
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Keywords

About this book

The development of international financial centers (IFCs) has paralleled the rapid expansion of international banking and Eurocurrency activities. During the past decade and a half, the international banking and financial markets have experienced phenomenal growth along with the parallel expansion of IFCs. The size of the Eurocurrency market grew from $110 billion in 1970 to over $4,000 billion by 1987, while the total international assets of all banking institutions rose from $130 billion to $4,800 billion during the same period. Some of the preeminent IFCs are playing a major role in the international financial markets, as demonstrated by the size of their international assets: Bahamas ($144 billion), Cayman Islands ($174 billion), Singapore ($150 billion), Hong Kong ($130 billion), Bahrain ($46 billion), and Panama ($32 billion). The patterns of Euroborrowing and Eurolending activities in these IFCs have been undergoing major changes. These changes came about as a result of the introduction of the floating exchange rate system in 1973, recent financial deregulation, internationalization of the financial markets, securitization of financial assets and liabilities, and global financial innovations. Since the pioneering work of Kindleberger in 1974 on the formation of financial centers, there has not been a comprehensive study to reflect the recent developments, trends and the mystique that have surrounded the IFCs' functions and operations in the international money and capital markets.

Editors and Affiliations

  • School of Government and Business Administration, George Washington University, USA

    Yoon S. Park

  • School of Business, University of Alaska, Anchorage, USA

    Musa Essayyad

Bibliographic Information

  • Book Title: International Banking and Financial Centers

  • Editors: Yoon S. Park, Musa Essayyad

  • DOI: https://doi.org/10.1007/978-94-009-2504-5

  • Publisher: Springer Dordrecht

  • eBook Packages: Springer Book Archive

  • Copyright Information: Kluwer Academic Publishers 1989

  • Hardcover ISBN: 978-0-7923-9016-9Published: 30 June 1989

  • Softcover ISBN: 978-94-010-7630-2Published: 14 October 2011

  • eBook ISBN: 978-94-009-2504-5Published: 06 December 2012

  • Edition Number: 1

  • Number of Pages: XIV, 272

  • Topics: International Economics, Finance, general, Business and Management, general

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