This paper assesses the major cities in mainland China that are competing to become international financial centers (IFC). Shanghai, Beijing, and Shenzhen are compared in terms of their strengths and weaknesses as IFCs. We find that in China, the state plays a particularly important role in the growth of a financial center by providing favorable policies, creating localization economies, consolidating banks, and strengthening the city's power through state-owned enterprises. Our analyses generate a contour map of China's emerging IFCs in a global context and thus provide an important first step toward theorizing IFC development in a transitional economy.

In this study, the Document Analysis Method is used to examine the ¡§Banking Services¡¨ in GATS from WTO documents and ¡§Core Principles for Effective Banking Supervision¡¨ from Basel Committee firstly. Secondly, the reform and open policy on banking in Mainland China during past decades has been reviewed. Emphases are put on the reform policy on account of the process of becoming a membership of WTO. Following part of the study focuses on Shanghai banking development. The history and reform of shanghai banking is the major subject. Besides, whether the blueprint of Shanghai banking and financial center will be achieved or not is also reviewed. In the study we find that Shanghai has a blooming economy, the banking industry in Shanghai also situates a leading position in Mainland China. But there are also many difficulties for Shanghai to overcome if Shanghai heads to achieve the goal of being an International Financial Center (IFC) in the world.

abstract: The city of Shanghai is set to become an international financial center (IFC) by 2020. To achieve this goal, it is imperative to clearly define the key characteristics of an IFC. In this study I draw from recent research on the ranking of IFCs to develop an index of these key characteristics that can be used to assess a city’s standings as an IFC. Based on a review of prior research, I first put together a comprehensive list of the indicators that have been used to evaluate IFCs, which includes six first-level indicators and 34 second-level indicators. I then collect information on all these indicators from public sources for the following eight cities each year from 2011 to 2013: London, New York, Paris, Hong Kong, Tokyo, Singapore, Beijing and Shanghai. Next, I conduct a principal component analysis (PCA) on my data, and obtain four primary factors that contain most information of the original 34 indicators. The first factor covers 18 of the original indicators and reflects a city’s level of development in general business environment. The second factor covers 10 of the original indicators and reflects a city’s level of development in financial markets. The third factor covers three of the original indicators and reflects a city’s level of economic vitality. The fourth factor covers three of the original indicators and reflects a city’s level of the costs of living. I further calculate the composite scores for the above eight cities along these four factors, and find that these eight cities can be classified into three tiers on the basis of their scores. The first tier consists of New York and London; the second tier consists of Singapore, Hong Kong, Paris and Tokyo; and the third tier consists of Shanghai and Beijing. I also find that Shanghai has been making progress in its scores along these four factors over the last three years, especially regarding financial market development, economic vitality, and cost of living. What Shanghai needs to focus on next is to improve its business environment so that it can move up to the second tier in IFC status. / Dissertation/Thesis / Doctoral Dissertation Business Administration 2015

In the midst of global economic and financial integration, there are increasing cross-border capital flows between China and the rest of the world. Foreign financial businesses also start to play more important roles in the nation's market after waves of financial reforms. Within such a background, this study aims to investigate the agglomeration and location choice of overseas financial institutions in Chinese cities. Data from the 2004 China Economic Census show that foreign financial establishments, including banks, insurance companies, and other financial service businesses, were mainly agglomerated in coastal cities. In particular, three major urban areas, Shanghai, Beijing, and Guangzhou, concentrated a majority of overseas financial institutions. Results from regression models show that foreign businesses' location choice is greatly influenced by a city's urban economy, involvement in the global market, and telecommunication infrastructure. However, we do not find a significant link between foreign financial institutions' market entry and the size of domestic financial centers in China.

「人民幣」（RMB）有著相當特殊的背景因素，基於歷史背景不同，經濟體制不同，與西方國家的貨幣（如美元、歐元）發展差異很大；未來人民幣是否可能成為重要的國際儲備貨幣，甚至可能會威脅到美元的世界領導地位？而「離岸中心」（Offshore Financial Center），則是在規劃人民幣國際化過程中，一個相當關鍵的階段，除了可以增加人民幣的交易，也能夠促進人民幣於在岸與離岸市場之間的使用與流通的龐大商機。 本研究首先由貨幣市場的歷史回顧與發展現況進行探討，接著針對人民幣的現行體系、各離岸中心運作模式等逐一分析，藉由分析人民幣離岸中心業務與營運，來了解過去、現在及未來的發展方向，並且對於人民幣離岸中心目前所遇到的問題給予建議。最後針對台灣，探討目前策略定位與未來發展人民幣離岸中心之成功要素。 本研究結論為，以長期來說，根據IMF國際貨幣基金組織的報告指出：人民幣是最有潛力在國際上被廣泛使用的貨幣，基於中國龐大的經濟規模、多元化的貿易結構、總體經濟穩定以及高經濟成長率，而人民幣未來也將會成為主要的國際貨幣。因此，台灣爭取成為人民幣離岸中心，已經是刻不容緩的事，未來更可順勢發展成為國際金融中心。期望本研究能提供給本國與外商金融業者之策略發展，並提出建議供主管機關相關政策制定參考之用。 關鍵字：人民幣、離岸中心、貨幣 / "Renminbi" (RMB) has a very special background, based on the historical matter, the different economic system matter, and that varies greatly in comparison with the Western countries' currencies (such as the US dollar, Euro). Does the RMB likely to become an important international reserve currency in the future? Is it possible that threat to US dollar's leader role in the world? Moreover, the "Offshore Financial Center" is in a very critical stage of internationalization for the RMB, not only to enlarge the volume of RMB transactions, but also to promote the RMB in between the onshore and offshore markets for business and circulation enormous opportunities. In this study, starts from the historical review of currency markets and discuss the present state of development, follows by the current system of the RMB, as well as the operating model of the other offshore financial centers to benchmark, by analyzing the RMB offshore centers' business and operations, to understand in the past, present and future direction of development. To come out the solutions currently given to the problems encountered, and make recommendations for the offshore RMB center. Further to Taiwan, to discuss the current and future development of strategic positioning for the best practice of becoming the offshore RMB financial center. In conclusion, as for the long-term, according to IMF working paper: the RMB holds the most potential to become widely used internationally, due to China's large economic size, diversified trade structure and network, macroeconomic stability, and high growth rates which can be expected that the RMB will become a major international currency. Therefore, the development of offshore RMB financial center is already an urgent matter for Taiwan. The success of it can further become the international financial center in the next step. In the end, we hope this study can provide the great views to local and foreign financial institutions, and make some recommendations of relevant policy to government authority for reference purposes. Keywords: RMB, Renminbi, Offshore Financial Center, Currency

Cada vez más las empresas le dan mayor importancia a su capital humano, es por ello que se han generado nuevas tendencias de gestión en pro de las personas, a fin de alinearlas a la cultura, visión, misión y valores de la empresa. Sin embargo, hay empresas que no son conscientes que un trabajador feliz y motivado puede rendir mucho más de lo esperado. Más aún si la comparamos de uno que recibe un trato indiferente. No obstante, somos conscientes de que esto promueve la proactividad de ciertos trabajadores quienes se organizan y deciden celebrar ciertas fechas que consideran importantes para el resto del grupo, o que simplemente los motivan a trabajar en un entorno positivo y energético. Por otra parte, este tipo de organización no dispone de mucho tiempo ni recursos para poder desarrollar sus eventos de una manera eficiente, resultando a veces hasta un poco incómodo para alguno de los integrantes del mismo grupo. Es aquí donde nace nuestra oportunidad de negocio, partiendo inicialmente la idea para organizar la celebración ideal de los oficinistas facilitándoles la logística que implica la misma y para mejorar su eficiencia fomentando un mejor clima laboral. Muchos dirán que cada trabajador es quien determina su felicidad y permanencia en la empresa. Sin embargo, la mayor responsabilidad ante esta situación la asume el Área de Recursos Humanos. Es por ello que mediante nuestra propuesta también apuntamos a cerrar negocios con RRHH de distintas empresas, aportando valor a su gestión. Sobre la parte financiera, La box necesita una inversión total de S/ 75,515.00 soles de los cuales, el 40% es aportado por los socios y el 60% restante será financiación. El financiamiento asciende a un importe de S/ 45,309.00 soles. Se ha determinado que es un proyecto sostenible en el tiempo, con un riesgo bajo y con un COK de 26.26%. / More often, these days, companies give more importance to their human capital, which is why new management trends have been generated for people, in order to sync them with the company's culture, vision, mission and values. However, there are companies that are not aware that a happy and motivated worker can perform much more than expected. Even more, if we compare it to one who receives indifferent treatment. However, we are aware that this promotes the proactivity of certain workers who organize and decide to celebrate certain dates that they consider important for the rest of the group, or that simply motivate them to work in a positive and energetic environment. On the other hand, this type of organization does not have much time or resources to develop its events in an efficient way, sometimes resulting a little uncomfortable for any of the members of the same group. This is where our business opportunity born, initially starting the idea to organize the ideal celebration of the office workers by providing them with the logistics involved and to improve their efficiency by promoting a better working environment. Many will say that each worker is the one who determines their happiness and permanence in the company. However, the greatest responsibility for this situation is assumed by the Human Resources Area. That is why, through our proposal, we also aim to close business with HR from different companies, adding value to their management. / Trabajo de investigación

Throughout history, a number of financial centers have risen and fallen. While the significance of some centers have deteriorated, a small number of centers have emerged as today's leading financial centers by meeting a specific set of necessary conditions needed to successfully address the growing financial needs of the regions they are located. Furthermore, an even smaller number of financial centers have been able to sustain and expand their initial dominance in the financial industry by continuously satisfying a more focused set of conditions and factors. This thesis focuses on adapting Michael Porter's Diamond Model in determining, clustering, and expanding key factors that have historically given cities such as London, New York, Hong Kong, Singapore, and Tokyo their current status at the pinnacle of the financial centers of the world. This thesis begins by taking Porter's model that addresses national competitive advantage nations from a macroeconomic point of view, and adapting it to the development of financial centers at a microeconomic level. It utilizes Michael Porter's established grouping corners for identifying a vast array of macroeconomic and microeconomic factors that have historically played critical roles in increasing productivity and efficiency within a center's financial industry. Additionally, this thesis categorizes these factors into parameters that form a theoretical model designed to showcase the path to global financial dominance for an aspiring financial center. With the adaptation of Porter's model outlined in this thesis, financial centers are given a figurative blueprint of what constitutes a successful financial center. The theoretical model analyzes the necessary conditions and environments that a center needs to recreate within itself, or are endowed with, in order to be a globally competitive financial center.

No description available.

The role of tax havens in the global issue of tax evasion has been illustrated by numerous studies. In 2009, a major international initiative has been launched by G20 and OECD with a purpose to put an end to offshore tax evasion. Yet the outcomes of this tax haven crackdown are often contested. This thesis brings new findings to the empirical research that has been done on the field of crackdown's evaluation. First, I confirm the results of earlier academic papers and I find a negative impact of information exchange treaties on the value of funds placed in tax havens. Second, I extend the existing research shifting the attention to deposits in non-havens, concluding that also the money from tax havens placed on non-havens' bank accounts disappear after signing a treaty. In the final part of the thesis, I - for the first time in literature - link the data on cross-border deposits with a measure of financial secrecy. I find that a decrease in secrecy score corresponds to a decline in deposits on a sample of all countries and non-havens. All my findings suggest that weakening the financial secrecy is associated with a significant outflow of cross-border deposits.

El presente proyecto titulado Mercado Ferial San José en la ciudad de Juliaca, nace frente a la necesidad de mejorar la infraestructura del corazón comercial de la provincia de San Román, considerado como el punto comercial más importante de la región de Puno. La infraestructura del mercado San José de Juliaca se presenta de manera insuficiente e inapropiada, lo que causa caos y desorden, e inclusive riesgo de accidentes. Por ello, propongo hacer una renovación al mercado San José que plantea una nueva perspectiva del espacio comercial, que irá más allá del intercambio comercial, sino se enfoca en ofrecer espacios como un punto de encuentro en la ciudad. Además, se propone amplios espacios de interacción comercial, patio de comidas, restaurantes y otros servicios, de esta manera repotenciar el comercio y mejorar la experiencia gastronómica. Por consiguiente, se tiene planteado un diseño arquitectónico organizado por un eje comercial conformado por plazas, estas mismas son para generar diferentes actividades dentro del mercado, asimismo permitirá originar nuevos recorridos comerciales e incentivar actividades comerciales a todo nivel, respondiendo a las necesidades comerciales de la ciudad de Juliaca. Se concluye que es necesario renovar mercados complementándolos con las necesidades comerciales que necesita y reflejando la estrecha relación entre establecimiento comercial y el espacio público para así repotenciar el comercio existente teniendo en cuenta que es el principal rubro en la ciudad. El contenido del presente documento está constituido por una secuencia de capítulos, los cuales describen los diversos aspectos del proyecto. / The following project entitled “San José” Fair Market- Juliaca, was created in response to the necessity to improve the commercial heart of the province of San Roman’s infrastructure, which is considered the most important commercial area in Puno region. “San José” Fair Market- Juliaca’s infrastructure is shown in an insufficient and inappropriate way, which causes chaos, disorder, and even risk of accidents. Therefore, I propose to make a renovation of San Jose market that brings a new perspective of commercial infrastructure, which, not only will meet the needs of commercial exchange, but also will focus on offering spaces as a meeting point in the city. In addition, the project will include wide spaces for commercial interaction, food court, restaurants and other services. In this way, it will boost the commerce and will improve the gastronomic experience. To that end, the project proposes an architectural design which will be organized by a commercial axis composed of squares. These squares will encourage different activities within the market, and will enable new commercial routes and encourage commercial activities at all levels, adressing Juliaca city’s commercial needs. In conclusion, it is necessary to renew markets, complementing them with commercial needs and reflecting the close relationship between commercial establishment and public space in order to boost the existing commerce, considering that it is the main activity in the city. The content of this document is composed of a sequence of chapters, which describe the various aspects of the project. / Tesis