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The substantial amount of undeclared foreign assets reported by disclosure schemes and analyses of international balance of payments statistics suggest that foreign assets held by Italians, as is the case in other countries, are greatly underestimated, in particular in the sector of portfolio...
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countries. The analysis confirms the problems that financial globalization is raising for national balances of payment. In … particular, globalization seems to have reduced the cost-effectiveness of the systems for gathering the data on the balance of …
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