Combating illicit financial flows from poor countries.Estimating the possible gains
- 2009 Denmark Dansk Institute for International Studies
- 4p
The end of the UN Millennium Development Goals that are to be reached by 2015, the article tackles what needs to be done in the post 2015 era. Countries need to unite in a concerted multilateral effort to combat illicit financial flows: for every dollar poor countries receive in development assistance, more than eight dollars are illegally transferred back to rich countries; most of it in order avoid local taxation. Effectively combating these illicit financial flows would generate more. Financial resources for development than foreign aid is likely to ever do – and help build a sustainable tax base in developing countries for the benefit of future development efforts. Policy recommendations are given,the World bank residual model,the measurement of IFFs as well as the trade pricing model in the article.The role of politicians in combating IFFs and policy recommendations are presented as well.
BALANCE OF PAYMENTS CAPITAL FLIGHT COUNTERFEITING GOOD GOVERNANCE SMUGGLING
