Document Type

Working Paper

Publication Date

9-24-2013

SSRN Discipline

LSN Subject Matter eJournals; Tax Law & Policy eJournals; Financial Economics Network; Sustainability Research & Policy Network; Economics Research Network; Legal Scholarship Network; Corporate, Securities & Finance Law eJournals; Banking & Financial Institutions eJournals; Law School Research Papers - Legal Studies; FEN Subject Matter eJournals; Law & Society eJournals; Law & Society: Public Law eJournals; International Law & Trade eJournals; SRPN Subject Matter eJournals; AARN Subject Matter eJournals; Anthropology & Archaeology Research Network

Abstract

The Cayman Islands are one of the world's leading offshore financial centers OFCs Their development from a barter economy in 1960 to a leading OFC for the location of hedge funds captive insurance companies yacht registrations special purpose vehicles and international banking today was the result of a collaborative policy making process that involved local leaders expatriate professionals and British officials Over several decades Cayman created a political system that enabled it to successfully compete in world financial markets for transactions participate in major international efforts to control financial crimes and avoid the political economic racial and social problems that plague many of its Caribbean neighbors Using archival sources participant interviews and a wide range of other materials this Article describes how the collaborative policy making process developed over time and discusses the implications of Cayman's success for financial reform efforts today

Download

Share

COinS