Switzerlands Role as an International Financial Center (Occasional Paper)

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Frankfurt A Tale of Resilience in the Crises. Direitos autorais. His work mainly focuses on banking and financial history, as well as business history more generally.

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His research focuses on finance, globalization, and urban and regional development. He has published several books and over fifty articles, and serves on the editorial board of Economic Geography, the Journal of Economic Geography and GeoJournal. Massive layoffs and dismissals by enterprises resulting from the global economic slowdown, major management scandals and different foreign investment attitudes have strained the traditional Swiss labour peace. Swiss trade unions have encouraged strikes against several companies, including Swiss International Air Lines , Coca-Cola , and Orange.

Total days lost to strikes, however, remain among the lowest in the OECD.

Bank for International Settlements

In the mean household income in Switzerland was CHF , c. This development was tied to the exchange rate between the US Dollar and the Swiss franc , which caused capital in Swiss francs to more than double its value in dollar terms during the s and especially in the wake of the financial crisis of — , without any direct increase in value in terms of domestic purchasing power. The high average wealth is determined by the few who are extremely wealthy; the median 50th percentile wealth of a Swiss adult is five times lower than the average, at USD , USD 70, PPP as of Through the United States-Swiss Joint Economic Commission JEC , Switzerland has passed strict legislation covering anti-terrorism financing and the prevention of terrorist acts, marked by the implementation of several anti-money laundering procedures and the seizure of al-Qaeda accounts.

Apart from agriculture, there are minimal economic and trade barriers between the European Union and Switzerland. In the wake of the Swiss voters' rejection of the European Economic Area Agreement in , the Swiss Government set its sights on negotiating bilateral economic agreements with the EU. Four years of negotiations culminated in Bilaterals , a cross-platform agreement covering seven sectors: research, public procurement, technical barriers to trade, agriculture, civil aviation, land transport, and the free movement of persons.

Parliament officially endorsed the Bilaterals in and it was approved by general referendum in May The agreements, which were then ratified by the European Parliament and the legislatures of its member states, entered into force on June 1, The Swiss government has since embarked on a second round of negotiations, called the Bilaterals II , which will further strengthen the country's economic ties with the organisation.

Switzerland has since brought most of their practices into conformity with European Union policies and norms in order to maximise the country's international competitiveness. While most of the EU policies are not contentious, police and judicial cooperation to international law enforcement and the taxation of savings are controversial, mainly because of possible side effects on bank secrecy.

Swiss and EU finance ministers agreed in June that Swiss banks would levy a withholding tax on EU citizens' savings income. Switzerland is a member of a number of international economic organizations, including the United Nations , the World Trade Organization , the International Monetary Fund , the World Bank , and the Organisation for Economic Co-operation and Development.

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Moreover, there are major challenges from the perspective of policy coherence for development, a priority of the Swiss, as well as the international, development debate. This paper measures the joint default risk of financial institutions by exploiting information about counterparty risk in credit default swaps CDS. This allows us to treat macroeconomic uncertainty as a latent quantity during estimation. There is also the question, furthermore, of the effectiveness of existing initiatives. Papers are copy-edited but not peer-reviewed.

From Wikipedia, the free encyclopedia. Economy of Switzerland The city of Zurich , the most important economic center of the country. Fiscal year. Inflation CPI. Population below poverty line.

Gini coefficient. Human Development Index. Machinery chemicals watches textiles precision instruments tourism banking insurance pharmaceuticals. Ease-of-doing-business rank. FDI stock. Current account. Gross external debt. Public debt. Budget balance. Credit rating.

Bank Structure in Switzerland

See also: Pharmaceutical industry in Switzerland. See also: Bio Suisse. The examples and perspective in this article may not include all significant viewpoints. Please improve the article or discuss the issue. January Learn how and when to remove this template message. A chart of Switzerland's import and export products from Main article: Tourism in Switzerland. Main article: Banking in Switzerland. Further information: Demographics of Switzerland.

Washington, DC, U. Retrieved 11 May Central Intelligence Agency. Retrieved 16 January Retrieved 17 March Retrieved 19 September Retrieved Retrieved 26 May The Guardian. Retrieved 28 May Scope Ratings. Retrieved 20 September World Economic Forum. Archived from the original PDF on February Archived from the original on The World Factbook.

Archived from the original on February 18, Retrieved February 20, Federal Statistical Office. Swiss Bankers Association. BBC News.

Archived from the original PDF on February 17, Bank of International Settlements. Dow Jones. December 30, Archived from the original on May 21, Credit Suisse.

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Exchange rates: xe. Links to related articles. Outline Index. Iceland Liechtenstein Norway Switzerland. Multinational Enterprises Testing of Chemicals. Economy of Europe. European Union. World Trade Organization. Kitts and Nevis St. Lucia St. Economy portal Switzerland portal. Hidden categories: CS1 maint: Archived copy as title CS1 German-language sources de Articles with German-language external links Webarchive template wayback links Articles with French-language external links Wikipedia articles needing clarification from January Articles containing potentially dated statements from All articles containing potentially dated statements Articles containing potentially dated statements from Articles needing more viewpoints from January Commons category link from Wikidata.

Namespaces Article Talk. Views Read Edit View history. In other projects Wikimedia Commons. By using this site, you agree to the Terms of Use and Privacy Policy. The city of Zurich , the most important economic center of the country. Germany Donor : ODA 2. Switzerland [29]. European Union countries [62].

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Germany [63]. France [64]. Italy [65]. United Kingdom [66]. United States [67]. ZH Zurich. BE Berne. LU Lucerne. UR Uri. SZ Schwyz. OW Obwald. NW Nidwald. GL Glaris. ZG Zoug.

Yves Mirabaud: Zurich and Geneva as complementary global financial hubs

FR Friburg. SO Soleure. BS Basle-City. BL Basle-Country. SH Schaffhouse. AR Appenzell Outer-Rhodes. AI Appenzell Inner-Rhodes. SG St Gall. GR Grisons. AG Argovia. TG Thurgovia.