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Informed by world-systems analysis, this book examines the shifting
patterns of accommodation and resistance to the offshore world,
with a particular focus on Mauritius as a critical but
underappreciated offshore node mediating foreign investment into
India and Africa. Drawing on a large pool of financial data and
elite interviews, the authors present the first detailed
comparative study of the Mauritius–India and Mauritius–Africa
offshore relationships. These relationships serve as indicative
test cases of the contemporary global tax reform agenda and its
promise to rein in offshore finance. Whereas India’s economic
power and multilateral track record have enabled it to actively
shape this agenda and implement it in a robust manner, most African
countries have found themselves either unable to meet its stringent
criteria or unwilling to do so out of fear that it might discourage
investment. Its impact on offshore financial centers has likewise
been limited. A few of the least sophisticated ones appear to have
fallen by the wayside, but the rest have either remained largely
unaffected, or, like Mauritius, succeeded in consolidating their
operations and surviving the current round of regulatory headwinds.
The findings suggest that the contemporary global tax reform agenda
has thus far not only failed to make good on its promise but also
actually reinforced numerous existing power hierarchies. The Uneven
Offshore World is written in an accessible style and aimed at
readers without specialized knowledge of tax issues.
Informed by world-systems analysis, this book examines the shifting
patterns of accommodation and resistance to the offshore world,
with a particular focus on Mauritius as a critical but
underappreciated offshore node mediating foreign investment into
India and Africa. Drawing on a large pool of financial data and
elite interviews, the authors present the first detailed
comparative study of the Mauritius-India and Mauritius-Africa
offshore relationships. These relationships serve as indicative
test cases of the contemporary global tax reform agenda and its
promise to rein in offshore finance. Whereas India's economic power
and multilateral track record have enabled it to actively shape
this agenda and implement it in a robust manner, most African
countries have found themselves either unable to meet its stringent
criteria or unwilling to do so out of fear that it might discourage
investment. Its impact on offshore financial centers has likewise
been limited. A few of the least sophisticated ones appear to have
fallen by the wayside, but the rest have either remained largely
unaffected, or, like Mauritius, succeeded in consolidating their
operations and surviving the current round of regulatory headwinds.
The findings suggest that the contemporary global tax reform agenda
has thus far not only failed to make good on its promise but also
actually reinforced numerous existing power hierarchies. The Uneven
Offshore World is written in an accessible style and aimed at
readers without specialized knowledge of tax issues.
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