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Competing for criminal money

Unger, Brigitte; Rawlings, Gregory


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]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
Source: Global Business and Economic Review
DOI: 10.1504/GBER.2008.019987


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