Flawed data is the reason behind the vilification of
international financial centres, two top professors find. Their
report, Moving Money, published by two
world-renowned academics, revealed that international financial
centres do not deserve the bad headlines they garner. Instead, they
play an essential role in helping funds move around the global
economy and increasing international investment. Poor data,
analysis and mistakes have also led to allegations that
international finance centres allow significant illicit capital
flows enabling individuals and multinational enterprise to avoid
paying a "fair" amount of tax.
In the report, the authors, Professor Andrew Morriss
from the University of Alabama School of Law and Professor Richard
Gordon of Case Western Reserve University, say that allegations by
political leaders and others that offshore financial centres enable
multinational enterprise to avoid paying a "fair" amount
of tax — and that they enable wealthy
