Determinants of International Financial Centres II: Legal Systems and Establishment—Common Versus Civil Laws
摘要
As the title indicates, this chapter presents another significant determinant in the rise and formation of international financial centres, namely, the legal systems and establishment as well as their comparative advantages between the two dominant systems: common law and civil law systems. This chapter will demonstrate that the common law system, as opposed to the civil law system, is instrumental in promoting the rise and formation of financial centres of international or global scale.