Illicit Financial Flows and Governance : The Importance of Disaggregation

After decades of billion dollar scandals around long-serving dictators removing vast fortunes from their impoverished nations, the broader phenomenon of which this is part has acquired a label: Illicit Financial Flows (IFFs). The term encompasses t...

Full description

Bibliographic Details
Main Author:	Reuter, Peter
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	FINANCE MARKET DEVELOPMENT MONEY CASH ILLEGAL BRIBERY governance illicit finance money laundering tax evasion corruption
Online Access:	http://documents.worldbank.org/curated/en/538841487847427218/World-development-report-2017-Illicit-financial-flows-and-governance-the-importance-of-disaggregation http://hdl.handle.net/10986/26210

id	okr-10986-26210
recordtype	oai_dc
spelling	okr-10986-262102021-05-25T08:57:57Z Illicit Financial Flows and Governance : The Importance of Disaggregation Reuter, Peter FINANCE MARKET DEVELOPMENT MONEY CASH ILLEGAL BRIBERY governance illicit finance money laundering tax evasion corruption After decades of billion dollar scandals around long-serving dictators removing vast fortunes from their impoverished nations, the broader phenomenon of which this is part has acquired a label: Illicit Financial Flows (IFFs). The term encompasses the international transfer of moneys generated by bribery, tax evasion and illegal markets. IFFs have been the object of much attention from high level bodies such as the G20 and G7. The purpose of this Note is to develop a better understanding of the drivers of the phenomenon itself in terms of governance and also of the governance challenge in trying to reduce IFFs. It deals with the distribution of power as a factor in both aspects. The discussion does not examine the drivers or consequences of the activities that generate most IFFs, such as bribery and tax evasion. Thus a statement that IFFs from criminal earnings does not affect development institutions is not a statement about the adverse effects of a large criminal sector, which may indeed have very serious economic and development consequences. The paper deals only briefly with the contested issues of definition and measurement. This paper has been relentlessly speculative that reflects the state of understanding of the IFF phenomenon. For reform efforts, a good understanding of the governance issues and the obstacles to aligning the interests and capacities of the many participants is crucial. 2017-03-06T22:57:29Z 2017-03-06T22:57:29Z 2017-01 Working Paper http://documents.worldbank.org/curated/en/538841487847427218/World-development-report-2017-Illicit-financial-flows-and-governance-the-importance-of-disaggregation http://hdl.handle.net/10986/26210 English en_US World Development Report Background Paper; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	FINANCE MARKET DEVELOPMENT MONEY CASH ILLEGAL BRIBERY governance illicit finance money laundering tax evasion corruption
spellingShingle	FINANCE MARKET DEVELOPMENT MONEY CASH ILLEGAL BRIBERY governance illicit finance money laundering tax evasion corruption Reuter, Peter Illicit Financial Flows and Governance : The Importance of Disaggregation
relation	World Development Report Background Paper;
description	After decades of billion dollar scandals around long-serving dictators removing vast fortunes from their impoverished nations, the broader phenomenon of which this is part has acquired a label: Illicit Financial Flows (IFFs). The term encompasses the international transfer of moneys generated by bribery, tax evasion and illegal markets. IFFs have been the object of much attention from high level bodies such as the G20 and G7. The purpose of this Note is to develop a better understanding of the drivers of the phenomenon itself in terms of governance and also of the governance challenge in trying to reduce IFFs. It deals with the distribution of power as a factor in both aspects. The discussion does not examine the drivers or consequences of the activities that generate most IFFs, such as bribery and tax evasion. Thus a statement that IFFs from criminal earnings does not affect development institutions is not a statement about the adverse effects of a large criminal sector, which may indeed have very serious economic and development consequences. The paper deals only briefly with the contested issues of definition and measurement. This paper has been relentlessly speculative that reflects the state of understanding of the IFF phenomenon. For reform efforts, a good understanding of the governance issues and the obstacles to aligning the interests and capacities of the many participants is crucial.
format	Working Paper
author	Reuter, Peter
author_facet	Reuter, Peter
author_sort	Reuter, Peter
title	Illicit Financial Flows and Governance : The Importance of Disaggregation
title_short	Illicit Financial Flows and Governance : The Importance of Disaggregation
title_full	Illicit Financial Flows and Governance : The Importance of Disaggregation
title_fullStr	Illicit Financial Flows and Governance : The Importance of Disaggregation
title_full_unstemmed	Illicit Financial Flows and Governance : The Importance of Disaggregation
title_sort	illicit financial flows and governance : the importance of disaggregation
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/538841487847427218/World-development-report-2017-Illicit-financial-flows-and-governance-the-importance-of-disaggregation http://hdl.handle.net/10986/26210
_version_	1764461151472582656

Illicit Financial Flows and Governance : The Importance of Disaggregation

Similar Items