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Palgrave Macmillan

Banking Secrecy and Global Finance

Economic and Political Issues

  • Book
  • © 2015

Overview

Authors:
  1. Donato Masciandaro

    1. Department of Economics, Bocconi University, Italy

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    You can also search for this author in PubMed   Google Scholar

  2. Olga Balakina

    1. Department of Economics, Bocconi University, Italy

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    You can also search for this author in PubMed   Google Scholar

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Table of contents (4 chapters)

  1. Front Matter

    Pages i-x
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  2. Introduction

    • Donato Masciandaro, Olga Balakina
    Pages 1-5

  3. Banking Secrecy: Economics and Politics

    • Donato Masciandaro, Olga Balakina
    Pages 6-92

  4. Banking Secrecy, Regulation and Supervision

    • Donato Masciandaro, Olga Balakina
    Pages 93-182

  5. Banking Secrecy and International Financial Markets

    • Donato Masciandaro, Olga Balakina
    Pages 183-222

  6. Back Matter

    Pages 223-283
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Keywords

About this book

A 2009 G20 official document stated that the era of banking secrecy is over but is it? If banking secrecy is the result of market mechanisms, it suggests that worldwide demand and supply are likely to remain for a long time to come. Since the Global Financial Crisis, many countries have fought to combat banking secrecy, yet it permeates both national and international industries, and global efforts to prevent banking secrecy have been ineffective or at worst counterproductive. In this book, the authors show how the growth of criminal activity has systematically generated a demand for banking secrecy. They explore how national politicians and international banks have been motivated to supply banking secrecy through economic and political incentives, and shed light on the economics and politics of banking secrecy. This book takes a multidisciplinary approach to reveal the variety of behaviours and processes involved in making dirty money appear clean, providing an in-depth study of financial transactions which are characterized by a special purpose: hiding the originally illegal sources. This work will be of interest to students and scholars of economics and finance, and those with an interest in banking secrecy, global finance, international banking, and financial regulation.

Authors and Affiliations

  • Department of Economics, Bocconi University, Italy

    Donato Masciandaro, Olga Balakina

About the authors

Donato Masciandaro is Full Professor of Economics, holding the Chair in Economics of Financial Regulation, at Bocconi University, Milan. He is Head of the Department of Economics and Director of the Paolo Baffi Centre on Central Banking and Financial Regulation. He served as Visiting Scholar at the International Monetary Fund, as well as Consultant at the Inter-American Development Bank and at the United Nations.

Olga Balakina is a Research Assistant and PhD student in Economics and Finance at the Paolo Baffi Centre on Central Banking and Financial Regulation, Bocconi University, Italy. Her areas of interest include assets pricing, monetary policy, banking regulation and supervision and illegal financial markets.

Bibliographic Information

  • Book Title: Banking Secrecy and Global Finance

  • Book Subtitle: Economic and Political Issues

  • Authors: Donato Masciandaro, Olga Balakina

  • DOI: https://doi.org/10.1057/9781137400109

  • Publisher: Palgrave Macmillan London

  • eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2015

  • Hardcover ISBN: 978-1-137-40009-3Published: 05 August 2015

  • eBook ISBN: 978-1-137-40010-9Published: 29 April 2016

  • Edition Number: 1

  • Number of Pages: X, 283

  • Topics: Development Economics, Economics, general

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