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Banks Defy Gravity in Tax Havens

Abstract : Using country-by-country reports from the Systemically Important Banks in the European Union, we measure ``abnormal'' banking activity in tax havens (TH). Our assessment is based on a gravity model used to predict the expected international turnover of EU banks worldwide. We find that: 1) banks turnover in TH represents on average twice the gravity predictions; 2) the abnormal turnover of EU banks represents 1.46\% of GDP in TH and varies between 16\% of GDP and zero; 3) there is a large heterogeneity across TH with Hong Kong, Luxembourg and Singapore concentrating the bulk of the abnormal turnover; 4) we observe a decline and a concentration of abnormal turnover since the reporting requirement has been introduced in the EU.
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Preprints, Working Papers, ...
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Contributor : Anne-Laure Delatte <>
Submitted on : Thursday, January 7, 2021 - 10:41:58 AM
Last modification on : Thursday, February 4, 2021 - 3:44:02 PM


  • HAL Id : hal-03101505, version 1



Gunther Capelle-Blancard, Vincent Bouvatier. Banks Defy Gravity in Tax Havens. 2021. ⟨hal-03101505⟩



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