On 16 February 2013, The Economist published a special report on Storm Survivors Offshore financial centres have taken a battering recently, but they have shown remarkable resilience.
Professor Jason Sharman, Deputy Director, Centre for Governance and Public Policy contributed on the article by Matthew Valencia.
‘…. Nevertheless offshore finance has shown a “puzzling resilience”, confounding predictions of decline because of its supposed vulnerability to the regulatory clampdown imposed from outside, says Mr Sharman. An academic study last year found that OFCs’ foreign-owned deposits had actually risen slightly in 2007-11. Mr Sharman attributes their staying power to a growing clientele in Asia and other emerging markets which has offset a decline in America and Europe.
You can read the full article from The Economist here.
Further reporting on this topic in The Economist this topic can be read here.