Do Illicit Financial Flows Hurt Tax Revenues?: Evidence from the Developing World
Recent work draws attention to the fragility of domestic tax revenues-a vital resource for the developing world-to illicit financial flows. To cope with two major challenges in the illicit financial flows-tax revenues relationship-related to the mere illicit financial flows measurement and reverse c...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Washington, D.C
The World Bank
2021
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| Online-Zugang: | Volltext |
| Zusammenfassung: | Recent work draws attention to the fragility of domestic tax revenues-a vital resource for the developing world-to illicit financial flows. To cope with two major challenges in the illicit financial flows-tax revenues relationship-related to the mere illicit financial flows measurement and reverse causality-this paper exploits the Financial Action Task Force data using an impact assessment analysis. Estimations reveal a significant tax revenue loss in countries associated with important illicit financial flows with respect to comparable countries without important illicit financial flows. Moreover, this causal effect-estimated as being economically meaningful-is supported by a large robustness section, and in particular remains unchanged when using several "doubly robust" estimators. Lastly, it unveils heterogeneities in the impact of illicit financial flows on tax revenues, related to the type of tax-a significant loss for indirect but not for direct taxes-and the considered environment. Therefore, policies combating illicit financial flows-for example, by developing institutions or a sound financial system, as shown by the estimations-may provide additional tax revenues for the developing world |
| Beschreibung: | 1 Online-Ressource (36 Seiten) |
| DOI: | 10.1596/1813-9450-9781 |
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| 520 | 3 | |a Recent work draws attention to the fragility of domestic tax revenues-a vital resource for the developing world-to illicit financial flows. To cope with two major challenges in the illicit financial flows-tax revenues relationship-related to the mere illicit financial flows measurement and reverse causality-this paper exploits the Financial Action Task Force data using an impact assessment analysis. Estimations reveal a significant tax revenue loss in countries associated with important illicit financial flows with respect to comparable countries without important illicit financial flows. Moreover, this causal effect-estimated as being economically meaningful-is supported by a large robustness section, and in particular remains unchanged when using several "doubly robust" estimators. Lastly, it unveils heterogeneities in the impact of illicit financial flows on tax revenues, related to the type of tax-a significant loss for indirect but not for direct taxes-and the considered environment. Therefore, policies combating illicit financial flows-for example, by developing institutions or a sound financial system, as shown by the estimations-may provide additional tax revenues for the developing world | |
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| indexdate | 2024-10-12T04:03:07Z |
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| language | English |
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| spellingShingle | Combes, Jean-Louis Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World Event Analysis Finance and Financial Sector Development Financial Action Task Force Financial Law Financial Regulation and Supervision Foreign Trade Promotion and Regulation Illicit Financial Flows International Economics and Trade Law and Development Tax Revenue |
| title | Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World |
| title_auth | Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World |
| title_exact_search | Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World |
| title_exact_search_txtP | Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World |
| title_full | Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World Jean-Louis Combes |
| title_fullStr | Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World Jean-Louis Combes |
| title_full_unstemmed | Do Illicit Financial Flows Hurt Tax Revenues? Evidence from the Developing World Jean-Louis Combes |
| title_short | Do Illicit Financial Flows Hurt Tax Revenues? |
| title_sort | do illicit financial flows hurt tax revenues evidence from the developing world |
| title_sub | Evidence from the Developing World |
| topic | Event Analysis Finance and Financial Sector Development Financial Action Task Force Financial Law Financial Regulation and Supervision Foreign Trade Promotion and Regulation Illicit Financial Flows International Economics and Trade Law and Development Tax Revenue |
| topic_facet | Event Analysis Finance and Financial Sector Development Financial Action Task Force Financial Law Financial Regulation and Supervision Foreign Trade Promotion and Regulation Illicit Financial Flows International Economics and Trade Law and Development Tax Revenue |
| url | https://doi.org/10.1596/1813-9450-9781 |
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