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Publication issue de Pierre Kopp. Understanding the Financial Flows Generated by Human Trafficking. World Bank Conference: The Dynamics of Illicit Flows from Developing Countries, Sep 2009, Washington, United States. ; International audience

Publication issue de Pierre Kopp. Understanding the Financial Flows Generated by Human Trafficking. World Bank Conference: The Dynamics of Illicit Flows from Developing Countries, Sep 2009, Washington, United States. ; International audience

Publication issue de Pierre Kopp. Understanding the Financial Flows Generated by Human Trafficking. World Bank Conference: The Dynamics of Illicit Flows from Developing Countries, Sep 2009, Washington, United States. ; International audience

Publication issue de Pierre Kopp. Understanding the Financial Flows Generated by Human Trafficking. World Bank Conference: The Dynamics of Illicit Flows from Developing Countries, Sep 2009, Washington, United States. ; International audience

The emerging concept of illicit financial flows has become a crosscutting issue on the international agenda in recent years. This umbrella term refers to money illegally earned, transferred, or used. With the development of digital technologies, the use of information and communications networks as a tool for facilitating illicit financial flows is rising as one of the key challenges in tackling the problem of the movement of illegal funds. Digital technologies facilitate illicit financial flows at each stage, be it earning money illegally, transferring illegal funds, or using them. There are several areas where clear links between technology and illicit financial flows can be established. Part one defines illicit financial flows to establish the scope of the problem and provide the context for further analysis. Part two focuses on the issue of digital technologies in the process of earning money illegally and transferring illicit funds, and analyzes how technology can help in the process of acquisition, transfers, and integration of illicit finds. Part three discusses the role of technology in fighting illicit financial flows. Part four concludes with suggestions for further areas of research in this field and ways to tackle the problem more effectively.

Illicit Financial Flows (IFFs) are a major challenge to Africas democratic governance. They have a direct impact on a countrys stability to raise, retain and mobilize its own resources to finance sustainable economic development. GFI (2017) finds that IFFs remain persistently high. The study finds that over the period between 2005 and 2014, IFFs on average accounted for between 14.1 percent and 24.0 percent of the total developing country trade, while outflows were estimated at 4.6 percent to 7.2 percent of total trade and inflows were between 9.5 percent and 16.8 percent. The problem with IFFs is that they are not only illicit but that their effect spreads far beyond their immediate area of occurrence. Millions of people are affected, economies are weakened, and development is stagnated, while a shady few accumulate wealth and influence. Financial flows are crucial for poor countries and have played an important role in most African countries that have made developmental progress. Since not all financial flows are good for development, the integration of poor countries into the global financial system poses opportunities as well as risks. IFFs usually facilitate most of these risks and have an overall negative impact on African countries.

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics ; This paper examines the response of international investors to country fiscal outcomes and the dynamics of this response according to the type of government that is in power. The issue is examined with a model that has been estimated using data from 22 OECD countries for the period of 1998 through 2008. International financial flows are highly heterogeneous and this paper finds different effects depending on the type of flow. The results of this paper suggest that an increase in government expenses increase the level of FDI and an increase in government revenues decrease the level of FDI. The evidence produced in the model also suggests that Majority governments have a negative impact on the level of the three types of capital flows.

Using country level panel data over the period 1970–2011, this paper evaluates the direct as well as indirect impact of three types of financial flows (foreign direct investment, remittances and official development aid) on the per capita income of a group of low and middle income countries. The empirical results suggest that the direct effect of official development aid in developing countries is mostly negative. This conclusion also holds when the sample is divided into different regions. All three estimation techniques used (i.e., Ordinary Least Squares, panel fixed effects and system Generalised Method of Moments) yield broadly similar results. We find that official development aid and government spending are complementary and hence, depending on the level of effectiveness of government spending programs, official development aid can have an indirect positive impact on income per capita. On the other hand, both remittances and foreign direct investment appear to have a direct positive and statistically significant effect on per capita income.

FEUTURE Online Paper No. 9 This paper focuses on the role of financial flows in the future of EU-Turkey relations. The size of financial flows has increased along with increasing integration between EU and Turkey. In this process many macroeconomic variables in Turkey have been significantly influenced by the movements of financial flows through assets and credit channels. The movements of financial flows can be significantly affected by the tone of the relations between EU-Turkey. Especially, under the assumption that EU stabilizes itself, in a world in which global liquidity evaporates, Turkish policy makers cannot afford the conflict scenario. Even in a world of a high global liquidity, the possibility of financial reversals creates huge uncertainty and a potential high cost for the Turkish part. Therefore, focusing on the role of financial flows, under normal conditions, Turkey EU relations are destined to evolve into either convergence or cooperation options. Further-more, the vulnerability of Turkish economy to financial flows can increase the leverage of Europe on Turkey. Turkish authorities should find ways to decrease the sensitivity of the economy to the flows in order to increase their negotiation power in the process. ; This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 692976. This publication reflects the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein.

After decades of billion dollar scandals around long-serving dictators removing vast fortunes from their impoverished nations, the broader phenomenon of which this is part has acquired a label: Illicit Financial Flows (IFFs). The term encompasses the international transfer of moneys generated by bribery, tax evasion and illegal markets. IFFs have been the object of much attention from high level bodies such as the G20 and G7. The purpose of this Note is to develop a better understanding of the drivers of the phenomenon itself in terms of governance and also of the governance challenge in trying to reduce IFFs. It deals with the distribution of power as a factor in both aspects. The discussion does not examine the drivers or consequences of the activities that generate most IFFs, such as bribery and tax evasion. Thus a statement that IFFs from criminal earnings does not affect development institutions is not a statement about the adverse effects of a large criminal sector, which may indeed have very serious economic and development consequences. The paper deals only briefly with the contested issues of definition and measurement. This paper has been relentlessly speculative that reflects the state of understanding of the IFF phenomenon. For reform efforts, a good understanding of the governance issues and the obstacles to aligning the interests and capacities of the many participants is crucial.

Every year, the government in Uzbekistan forces up to a million of its own citizens to pick cotton without pay. Uzbekistan's cotton industry is crippling the economy, degrading the environment, and creating tensions between Uzbekistan and its neighbors. Given these problems, why does the government of Uzbekistan persist with this abusive and antiquated system? In the context of the hyper-authoritarian system of government in Uzbekistan there are two answers: because the government can and because it profits handsomely from doing so.In order to challenge forced labor in Uzbekistan, advocates and policymakers need a deeper understanding of how the cotton industry works. A new report produced by the Open Society Foundations contributes to this understanding and offers tools and analysis that can help in the planning and financing of major reforms. Uzbekistan's Cotton Sector: Financial Flows and Distribution of Resources provides new insights into how a small circle surrounding President Islam Karimov's government realizes huge profits by ignoring human rights and keeping a centralized business alive.The paper uses data and analysis about the costs of the cotton production system to produce recommendations for allowing farmers and markets to work. This includes strategies for de-monopolizing agricultural service industries such as seed and fertilizer suppliers and cotton gins.

Concerning the characterisation or classification of municipalities a wide range of different approaches exists. Usually some historical, functional, and/or political indicators are used for such a classification. These indicators are usually structured simple, referring to inhabitant size, political importance, configuration of available infrastructure like hospitals and schools, places of work, or the like. However, an application field, where a quite specific, meaningful, and comprehensible classification for each municipality is of fundamental interest, is the local financial adjustment between communities on the same hierarchical administrative level. Which municipality delivers gladly more money than it is forced to do by law, or which community renounces voluntarily external support? Therefore, well elaborated indicators are needed to define the amount of money which has to be transferred, generally spoken, from rich communities to the poorer ones. However, it is obvious that a pure redistribution of revenues between financially strong and financially weak communities, which would lead in principle to a more or less equal financial configuration of the communities, is not sufficient for a fair system of financial adjustment. Such a redistribution system would not consider the different financial loads of the budgets of different types of communes. These varying financial loads for varying types of commues can be characterised by the following two concepts: 'costs of width' and 'costs of density'. The 'costs of width' are explained mainly by geographical reasons for peripheral and/or mountainous communities with low population density, which implies specific financial load for the particular community. By contrast, 'costs of density' are explained by disproportional high socio-demographic burdens and high costs of infrastructure in central and urban communities. Meaningful indicators for such a financially oriented classification of municipalities need detailed investigations, to be silent completely of that these indicators also need political acceptance, in the end. This paper presents a study carried out for the Canton of Zurich, Switzerland, which made part of the cantonal revision of the system of inter-communal financial adjustment. The aim was to provide means for a cantonal regulation on how the financial adjustment between the communities should be regulated. Therefore, socio-demographic and geographic indicators have been evaluated in order to find rules to reflect the financial load of the municipal budgets. The heuristically driven statistical modelling has been carried out using multiple regression. Besides the presentation of the technical approach, this paper discusses the analysed indicators in the perspective of regional policy and territorial justice.

The dissertation contributes to the literature on the political economy of foreign aid and foreign direct investments to developing countries. Chapter I focus on the changing ideology of the German government over the 1973 – 2010 period and analyses whether this affects the importance of the factors that determine German bilateral aid allocation. In Chapter II the focus changes from aid allocation in general to the specific design of conditionality that is attached to the World Bank's development policy lending. The analysis focuses on a specific subset of conditions, i.e., trade conditions, and how they relate to the commercial interests of the Bank's five major shareholders. The analysis in Chapter III investigates the relationship between the ratification of international human rights conventions and foreign aid to explain why countries ratify these conventions. Finally, Chapter IV studies foreign direct investment flows to resource-rich developing countries after these countries join a transparency initiative for resource-rich countries to test whether this initiative has a positive signalling effect on foreign investors.

Despite its oil wealth and large economy, Nigeria's population is amongst Africa's poorest, and the distribution of wealth is highly unequal. The twin evils of illicit money, that is, corruption and insecurity, have led to multi-consequential and catastrophic effects in the form of economic recession, political and administrative mismanagement of the nation's economy, kidnapping, banditry, ethno-religious conflict, and militancy-the Emancipation of the Niger Delta and Boko-Haram. This article analyses the correlation between illicit money and the rule of law in Nigeria. It finds that effectively stopping illicit financial flows that continue to thrive on the continent will greatly reduce corruption and insecurity. The article proffers that the Nigerian government will be most effective in combating the ills of illicit money: corruption and insecurity, when it submits itself to the rule of law.

The article deals with the issues of formation and implementation of monetary policy. The peculiarities of implementation of monetary regime of inflation targeting in Ukraine and in other countries are defined. The growing role of central banks in ensuring price and financial stability and supporting economic growth is justified. The modern possibilities of realization of the main function in the activity of the National Bank of Ukraine are revealed. The importance of adhering to the interconnected goals of monetary policy is justified. It is determined that the controlled movement of financial flows and price stability can only be ensured at the same time as financial stability in the context of economic growth. The role and dynamics of the discount (key) rate in the implementation of the inflation targeting regime is revealed. In the presence of measures of state stimulation of business activity, the directions and intensity of movement of financial flows change. It is justified that central banks should have enhanced institutional and instrumental capabilities to prevent the risks of destabilization. This is ensured by cooperation with the government in the implementation of monetary policy. It is proved that in order to further stabilize the markets it is necessary to implement in monetary policy not monetary «solo», but monetary «mix» of the central bank-government.