PROGRESS IN GEOGRAPHY ›› 2019, Vol. 38 ›› Issue (2): 191-204.doi: 10.18306/dlkxjz.2019.02.004

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An overview of offshore financial centers from a geographical perspective

Fenghua PAN1,2(), Beini ZENG1,2   

  1. 1. School of Geography, Faculty of Geographical Science, Beijing Normal University, Beijing 100875, China
    2. Beijing Key Laboratory of Environmental Remote Sensing and Digital City, Faculty of Geographical Science, Beijing Normal University, Beijing 100875, China
  • Received:2018-03-19 Revised:2018-10-05 Online:2019-02-28 Published:2019-02-28
  • Supported by:
    National Natural Science Foundation of China, No. 41871157.

Abstract:

After the Second World War, financial globalization, an important component of economic internationalization, has become a key characteristic of the global economic development. Offshore financial centers are developed under the background of financial internationalization and innovation, and play an important role in promoting development and change of capital organization and emerging markets. Because of their unique geographical distribution and important role in the global economy and financial system, geographers have begun to study offshore financial centers. In this article, we reviewed the literature on offshore financial centers in geography. We first introduced the related concepts and changes, then examined the following topics: the location and development conditions of offshore financial centers, their regional and global influences, the interaction between offshore financial centers and the global financial system, and their development in China. Moreover, we discussed how to research offshore financial centers from a geographical perspective in the future.

Key words: offshore financial center, global financial network, tax heaven, locational conditions, geography