Rao ,Sumedh creator text Birmingham GSDRC University of Birmingham 2013 monographic 8p. The article gives a breakdown of illicit financial flows from illicit economic activities through econometric analysis of causal links .Impact of illicit economic activities and illicit financial flows are given. The article states that Econometric evidence finds a mutually reinforcing relationship between illicit economic activities and illicit financial flows. This is supported by a breakdown of illicit financial flows from illicit economic activities, people trafficking, narcotics, illicit trade in minerals and manufactured goods or arms, as types of criminal activity which make up one form or grouping of illicit financial flows. The other forms are from government corruption and from commercial transactions. Within financial flows from criminal activity, illicit drugs are the most valuable market, and therefore the largest contributor to illicit flows. Impact of illicit economic activities and illicit financial flows is given as well as recommendations. ARMS TRAFFICKING HUMAN TRAFFICKING NATURAL RESOURCES COUNTERFEITING ENVIRONMENT ILLICIT WEALTH MONEY LAUNDERING SMUGGLING TAX EVASION TRANSFER PRICING WAR WEAPONS TERRORISM http://iffoadatabase.trustafrica.org/iff/relationship_between_illicit_economic_activity_and_illicit_financial_flows.pdf http://iffoadatabase.trustafrica.org/iff/relationship_between_illicit_economic_activity_and_illicit_financial_flows.pdf