Competing for criminal money
To compete for criminal money by means of high levels of bank secrecy has been a tempting strategy for countries to attract globally mobile funds. We show in a model that this 'Seychelles strategy' can increase national output, in particular, if a country takes first movement leadership in the competition game. If all countries try to do the same, there will be a race to the bottom and a supranational authority like the Financial Action Task Force (FATF) must intervene. However, there are also...[Show more]
|Collections||ANU Research Publications|
|Source:||Global Business and Economic Review|
|01_Unger_Competing_for_criminal_mo_2008.pdf||429.59 kB||Adobe PDF||Request a copy|
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