Illegal Capital Flight from Developing Countries
- Finland The Service Centre for Development Cooperation 2010
- 33p.
- Report Series 101 .
Illegal capital flight has been called the biggest obstacle to the development of poor countries. About nine times the amount of world's total development assistance budgets ends up in rich countries, often routed via tax havens shielded by the high level of banking secrecy. However, public sector resources lost due to corruption play second fiddle to other forms of capital flight. It is estimated that only a few percent of illicit capital flight is due to corruption.
