logo

The Absorption of Illicit Financial Flows from Developing Countries: 2002-2006 (Record no. 2)

000 -LEADER
fixed length control field 01634nam a22001337a 4500
100 ## - MAIN ENTRY--AUTHOR NAME
Personal name Kar, Dev , Cartwright-Smith, and Devon Hollingshead, Ann
245 ## - TITLE STATEMENT
Title The Absorption of Illicit Financial Flows from Developing Countries: 2002-2006
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication New York
Name of publisher Global Financial Intergrity
Year of publication 2006
300 ## - PHYSICAL DESCRIPTION
Number of Pages 52
520 ## - SUMMARY, ETC.
Summary, etc A recent study by Kar and Cartwright-Smith (2008) found that over the period 2002 to 2006, illicit financial flows from developing countries increased from US$372 to US$859 billion. The purpose of this paper is to link these outflows with major points of absorption consisting of offshore financial centers and developed country banks. While offshore centers have recently attracted media attention regarding their lack of transparency, the paper finds that large data gaps exist for banks as well. These gaps make it difficult to analyze the absorption of illicit funds, defined as the change in private sector deposits of developing countries in banks and offshore centers. The paper argues that both need to greatly improve the transparency of their operations. Regular reporting of detailed deposit data by sector, maturity, and country of residence of deposit holder would close many of the data gaps identified in this paper and allow for a more robust analysis of the absorption of illicit flows from developing countries. Given data limitations, certain assumptions had to be made regarding the behavior of illicit flows and investments.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Illicit wealth
856 ## - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier iffoadatabase.trustafrica.org/iff/Absorption_of_Illicit_Financial Flows from Developing Countries 2002 2006.pdf
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type Computer Files

No items available.