{
  "title": "Gimme Shelter",
  "sourceUrl": "https://www.imf.org/en/publications/fandd/issues/2019/09/offshore-tax-havens-and-inequality-picture",
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  "summary": "Accounting for offshore assets substantially boosts the wealth share of the very richest people. In short, inequality may be far greater than other studies have found.",
  "sections": [
    {
      "heading": "The amount of wealth held offshore",
      "content": "- Estimated total offshore wealth at about 10 percent of world GDP in 2007, or $5.6 trillion.\n- About half was kept in Switzerland, the world’s premier offshore banking center since the 1920s.\n- The figures for offshore wealth relative to GDP vary dramatically by country, ranging up to 60 percent in Russia, the Gulf states, and Latin America.\n- Connections observed between offshore wealth and: the presence of natural resources, a history of political instability, and proximity to Switzerland."
    },
    {
      "heading": "Data sources and evidence",
      "content": "- Swiss central bank publishes country-by-country breakdowns of offshore wealth in the nation’s banks.\n- In 2016, the Bank for International Settlements started to release data on the origin of bank deposits held in offshore banking centers like Jersey and Luxembourg, enabling origin-country estimates (for example, how much money residents of Germany held in accounts in Hong Kong SAR).\n- A leak of confidential records from the Swiss subsidiary of HSBC in 2007 provided additional evidence on ownership distribution of offshore wealth."
    },
    {
      "heading": "Key findings on distribution and inequality",
      "content": "- Other data suggest the distribution of offshore wealth is heavily skewed toward the rich: about 80 percent belongs to the top 0.1 percent of households.\n- Conclusion drawn: accounting for offshore assets substantially boosts the wealth share of the very richest people; in short, inequality may be far greater than other studies have found."
    },
    {
      "heading": "Implications",
      "content": "- Unless hidden riches are accounted for, it is difficult to know how wide disparities in wealth really are.\n- Improved country-by-country and origin-of-deposit data make it possible to better estimate who owns offshore wealth and to revise inequality measures accordingly.\n\nSource: Gimme Shelter (F&D Magazine) — Counting wealth in offshore tax havens boosts estimates of inequality\n\n---\n\n Content in this bundle\n\n- تأمل معي\n  - تأمل معي (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - تأمل معي (PDF){rel=\"external\" type=\"application/pdf\"}\n- Dame refugio ● Finanzas y Desarrollo ● Septiembre de 2019\n  - Dame refugio ● Finanzas y Desarrollo ● Septiembre de 2019 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Dame refugio ● Finanzas y Desarrollo ● Septiembre de 2019 (PDF){rel=\"external\" type=\"application/pdf\"}\n- La bonne planque\n  - La bonne planque (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - La bonne planque (PDF){rel=\"external\" type=\"application/pdf\"}\n- Who Owns the Wealth in Tax Havens? – IMF F&D\n  - Who Owns the Wealth in Tax Havens? – IMF F&D (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Who Owns the Wealth in Tax Havens? – IMF F&D (PDF){rel=\"external\" type=\"application/pdf\"}\n- Представьте себе. Дай мне убежище – Финансы и развитие – сентябрь 2019 года\n  - Представьте себе. Дай мне убежище – Финансы и развитие – сентябрь 2019 года (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Представьте себе. Дай мне убежище – Финансы и развитие – сентябрь 2019 года (PDF){rel=\"external\" type=\"application/pdf\"}\n- 给我庇护 - 图表释义- 《金融与发展》2019年9月号·第56卷·第3期 - 国际货币基金组织季刊\n  - 给我庇护 - 图表释义- 《金融与发展》2019年9月号·第56卷·第3期 - 国际货币基金组织季刊 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 给我庇护 - 图表释义- 《金融与发展》2019年9月号·第56卷·第3期 - 国际货币基金组织季刊 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/fandd/issues/2019/09/offshore-tax-havens-and-inequality-picture"
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    "Authors: Lijun Li, CHRIS WELLISZ",
    "Published: September 1, 2019",
    "Estimated total offshore wealth at about 10 percent of world GDP in 2007, or $5.6 trillion.",
    "About half was kept in Switzerland, the world’s premier offshore banking center since the 1920s.",
    "The figures for offshore wealth relative to GDP vary dramatically by country, ranging up to 60 percent in Russia, the Gulf states, and Latin America.",
    "Connections observed between offshore wealth and: the presence of natural resources, a history of political instability, and proximity to Switzerland.",
    "Swiss central bank publishes country-by-country breakdowns of offshore wealth in the nation’s banks.",
    "In 2016, the Bank for International Settlements started to release data on the origin of bank deposits held in offshore banking centers like Jersey and Luxembourg, enabling origin-country estimates (for example, how much money residents of Germany held in accounts in Hong Kong SAR).",
    "A leak of confidential records from the Swiss subsidiary of HSBC in 2007 provided additional evidence on ownership distribution of offshore wealth.",
    "Other data suggest the distribution of offshore wealth is heavily skewed toward the rich: about 80 percent belongs to the top 0.1 percent of households.",
    "Conclusion drawn: accounting for offshore assets substantially boosts the wealth share of the very richest people; in short, inequality may be far greater than other studies have found.",
    "Unless hidden riches are accounted for, it is difficult to know how wide disparities in wealth really are.",
    "Improved country-by-country and origin-of-deposit data make it possible to better estimate who owns offshore wealth and to revise inequality measures accordingly.",
    "**تأمل معي**",
    "**Dame refugio ● Finanzas y Desarrollo ● Septiembre de 2019**",
    "**La bonne planque**",
    "**Who Owns the Wealth in Tax Havens? – IMF F&D**",
    "**Представьте себе. Дай мне убежище – Финансы и развитие – сентябрь 2019 года**",
    "**给我庇护 - 图表释义- 《金融与发展》2019年9月号·第56卷·第3期 - 国际货币基金组织季刊**"
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