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...
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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 |
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Digital Repository |
institution_category |
Foreign Institution |
institution |
Digital Repositories |
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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 |