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Offshore and the Structural Enablement of Sovereignty

In: Offshore Finance Centres and Tax Havens

Author

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  • Ronen Palan

Abstract

From a modest beginning in the wholesale financial market specialising in government debt, offshore has expanded rapidly, penetrating and then dominating an ever-growing portion of international economic life. Offshore is normally associated with international finance. Since the early 1970s, however, the emerging offshore financial markets were joined by a plethora of export processing zones (EPZs), the Chinese special economic zones and the free zones in the USA, over 800 in total, providing employment directly to over two and a half million workers worldwide (Johansson, 1994; McMichael, 1996). It is estimated that over one-quarter of the third world’s manufacturing exports originate from one of these zones (Palan and Abbott, 1996). The Internet is providing opportunities for the extension of the principle of ‘offshore’ into areas such as gambling, pornography, telecommunication and on-line merchandising (OECD, 1995; Hussein, 1997; The Economist, 1997b). Soon shoppers will be able to avoid paying local taxes by purchasing goods in ‘offshore’ shops using offshore coupons (The Economist, 1997a). There is even a rudimentary offshore law.

Suggested Citation

  • Ronen Palan, 1999. "Offshore and the Structural Enablement of Sovereignty," Palgrave Macmillan Books, in: Mark P. Hampton & Jason P. Abbott (ed.), Offshore Finance Centres and Tax Havens, chapter 2, pages 18-42, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14752-6_2
    DOI: 10.1007/978-1-349-14752-6_2
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    Citations

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    Cited by:

    1. Hampton, Mark P. & Christensen, John, 2002. "Offshore Pariahs? Small Island Economies, Tax Havens, and the Re-configuration of Global Finance," World Development, Elsevier, vol. 30(9), pages 1657-1673, September.
    2. Bernard Castelli, 2005. "Une autre mondialisation : les mutations du blanchiment contemporain," Mondes en développement, De Boeck Université, vol. 131(3), pages 111-130.
    3. Irina IONESCU, 2015. "Financing Terrorism: From Offshore Companies To The Charity Paradox," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 8, pages 93-99, June.

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