International Financial Centers: The British-Empire, City-States and Commercially Oriented Politics

  title={International Financial Centers: The British-Empire, City-States and Commercially Oriented Politics},
  author={Ronen Peter Palan},
  journal={Theoretical Inquiries in Law},
  pages={149 - 176}
  • R. Palan
  • Published 2010
  • Economics, History
  • Theoretical Inquiries in Law
Nearly forty percent of the world’s financial assets are located in loosely defined British Empire city-state jurisdictions. This article seeks to provide an explanation for this odd development. My explanation of the rise of such a British Empire-centered economy links the development of the Euromarket, or the offshore financial market, to three sets of theories. The first is the hinterland theory that explains why small city-state types of jurisdictions are in an advantageous position when it… 

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