{
  "title": "Cross-Border Investment in Small International Financial Centers",
  "publication": "IMF Working Papers, February 1, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625",
  "overlayPath": "/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625/index.md",
  "summary": "This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset.\n- Presents estimates of the foreign asset and liability positions for a number of the most important small financial centers.\n- Places these estimates into context by calculating the importance of these locations in the global aggregate of cross-border investment positions.\n- Reports information on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers."
    },
    {
      "heading": "Authors and Publication",
      "content": "- By Philip R. Lane, Gian M Milesi-Ferretti\n- February 1, 2010\n- IMF Working Papers"
    },
    {
      "heading": "Key Content Features",
      "content": "- Dataset: A newly-assembled dataset used to analyze small financial centers.\n- Asset and liability estimates: Foreign asset and liability positions are estimated for several important small financial centers.\n- Global context: Importance of these locations is calculated relative to the global aggregate of cross-border investment positions.\n- Bilateral patterns: Analysis highlights which countries engage in financial trade with small financial centers."
    },
    {
      "heading": "Subjects and Keywords",
      "content": "- Subjects: Balance of payments, Banking, Financial crises, Financial services, Financial statements, Foreign direct investment, Offshore financial centers, Portfolio investment, Public financial management (PFM)\n- Keywords: BIS securities statistics, Capital flows, financial centers, Financial statements, Foreign direct investment, Global, holding, international investment position, liability, Offshore financial centers, portfolio, portfolio equity share, Portfolio investment, portfolio liability, SIFC Group, SIFCs, vis-à-vis SIFCs, WP\n\n---\n\n Content in this bundle\n\n- wp1038\n  - wp1038 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp1038 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625/bundle-manifest.json)",
    "Authors: Philip R. Lane, Gian M Milesi-Ferretti",
    "Published: February 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451962833.001",
    "This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset.",
    "Presents estimates of the foreign asset and liability positions for a number of the most important small financial centers.",
    "Places these estimates into context by calculating the importance of these locations in the global aggregate of cross-border investment positions.",
    "Reports information on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.",
    "By Philip R. Lane, Gian M Milesi-Ferretti",
    "February 1, 2010",
    "IMF Working Papers",
    "Dataset: A newly-assembled dataset used to analyze small financial centers.",
    "Asset and liability estimates: Foreign asset and liability positions are estimated for several important small financial centers.",
    "Global context: Importance of these locations is calculated relative to the global aggregate of cross-border investment positions.",
    "Bilateral patterns: Analysis highlights which countries engage in financial trade with small financial centers.",
    "Subjects: Balance of payments, Banking, Financial crises, Financial services, Financial statements, Foreign direct investment, Offshore financial centers, Portfolio investment, Public financial management (PFM)",
    "Keywords: BIS securities statistics, Capital flows, financial centers, Financial statements, Foreign direct investment, Global, holding, international investment position, liability, Offshore financial centers, portfolio, portfolio equity share, Portfolio investment, portfolio liability, SIFC Group, SIFCs, vis-à-vis SIFCs, WP",
    "**_wp1038**"
  ],
  "related": [
    {
      "title": "_wp1038",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp1038.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp1038.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp1038.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625/index.md",
    "json": "/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/31/cross-border-investment-in-small-international-financial-centers-23625/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T11:24:57.899Z"
}
