Illicit Activity and Money Laundering from an Economic Growth Perspective : A Model and an Application to Colombia

This paper contributes to the economic analysis of illicit activities and money laundering. First, it presents a theoretical model of long-run growth that explicitly considers illicit workers, activities, and income, alongside a licit private secto...

Full description

Bibliographic Details
Main Authors:	Villa, Edgar, Misas, Martha A., Loayza, Norman V.
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	RISKS CAPITAL MARKETS UNEMPLOYMENT RATES TOTAL INVESTMENT FOREIGN CAPITAL MACROECONOMIC MODEL ECONOMIC GROWTH PRODUCTION RELATIVE PRICE CAPITAL ACCUMULATION STOCK DISPOSABLE INCOME INCOME INTEREST DEPRECIATION PUBLIC INVESTMENTS PERFECT COMPETITION EXPECTATIONS MONEY SUPPLY INTEREST RATE REAL GDP SUPPLIES DEPRECIATION RATE BANKING SYSTEM BALANCE OF PAYMENTS DOMESTIC MARKET EXPORTS NATIONAL SAVINGS ECONOMETRIC ESTIMATES ASSET RECESSION WELFARE OPTIMIZATION BONDS INCENTIVES EQUILIBRIUM GRAVITY MODEL WORLD MARKETS INDICATOR VARIABLES VARIABLES NEGATIVE EXTERNALITY MARGINAL PRODUCTIVITY CAPITAL STOCK CONSUMPTION DECISIONS REAL INCOME INPUTS RETURNS TO SCALE PAYMENTS WEALTH BANKRUPTCY AGGREGATE INCOME CENTRAL BANK DEVELOPMENT MONETARY INSTABILITY MACROECONOMIC STABILITY LABOR MARKET STEADY STATE SAVINGS TECHNICAL ASSISTANCE CURRENCY DEVELOPMENT ECONOMICS MAXIMUM LIKELIHOOD ESTIMATION ECONOMIC CRISES EXPENDITURE FUNCTION EXOGENOUS VARIABLES MONEY CURRENT ACCOUNT CURRENT ACCOUNT SURPLUS CONSTANT RETURNS TO SCALE SURPLUS EXCHANGE RATES BASE YEAR PRODUCTIVITY ECONOMETRICS IMPERFECT COMPETITION OVERLAPPING GENERATIONS MODEL MARKETS DEBT EXPENDITURE FUNCTIONS OPEN ECONOMY BUSINESS CYCLE TOTAL COSTS ECONOMICS LITERATURE IMPORTS REAL INTEREST RATE RECESSIONS GENERAL EQUILIBRIUM MODEL UTILITY GROSS DOMESTIC PRODUCT INVENTORY DISTORTIONS LIBERALIZATION TAXES UNEMPLOYMENT INCOME TAXES EXTERNALITY CONSUMPTION GENERAL EQUILIBRIUM RISK NEUTRAL MONETARY SUPPLY CAPITAL WAGES DISTORTION UNEMPLOYMENT RATE VALUE LONG-RUN EQUILIBRIUM MACROECONOMICS DUTCH DISEASE FOREIGN INVESTMENT DEMAND INVESTMENT LEVELS UTILITY FUNCTION CONSUMPTION GOODS AGGREGATE DEMAND REAL COST ECONOMY
Online Access:	http://documents.worldbank.org/curated/en/2016/02/25975794/illicit-activity-money-laundering-economic-growth-perspective-model-application-colombia http://hdl.handle.net/10986/23917

Internet

http://documents.worldbank.org/curated/en/2016/02/25975794/illicit-activity-money-laundering-economic-growth-perspective-model-application-colombia
http://hdl.handle.net/10986/23917

Illicit Activity and Money Laundering from an Economic Growth Perspective : A Model and an Application to Colombia

Internet

Similar Items