@TechReport{CEPII:2017-16,
author={Vincent Bouvatier and Gunther Capelle-Blancard and Anne-Laure Delatte},
title={Banks Defy Gravity in Tax Havens},
year=2017,
month=September,
institution={CEPII},
type={Working Papers},
url={https://www.cepii.fr/CEPII/fr/publications/wp/abstract.asp?NoDoc=10439},
number={2017-16},
abstract={This paper provides the first quantitative assessment of the contribution of global banks in intermediating tax evasion. Applying gravity equations on a unique regulatory dataset based on comprehensive individual country-by-country reporting from all the Systemically Important Banks the European Union, we find that: 1) Tax havens generate a threefold extra presence of foreign banks; 2) The favorite destinations of tax evasion intermediated by European banks are Luxembourg and Monaco 3) British and German banks display the most aggressive strategies in tax havens; 4) New transparency requirements imposed in 2015 have not changed European banks commercial presence in tax havens; 5) Banks intermediate EUROS 550 billion of offshore deposits, that is 5% of their origin countries' GDP.},
keywords={Tax evasion ; International banking ; Tax havens ; Country-by-country reporting}
}