Publication

This paper puts forward the idea of a Financial Secrecy Index (FSI), which would rank countries and jurisdictions according to the contribution they make to the lack of transparency in global financial flows. The authors also present the findings of their own FSI model, suggesting it reveals a picture of a financial system in which small island tax havens play less of a role in undermining transparency, and some major economies more, than normally perceived. Finally, they make the argument that the FSI is more precise than existing approaches to financial secrecy, which only focus on whether a country is a tax haven or not.