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Illicit Financial Flows From The Least Developed Countries: 1990-2008, Dev Kar
Illicit Financial Flows From The Least Developed Countries: 1990-2008, Dev Kar
Dev Kar
This paper explores the scale and composition of illicit financial flows from the 48 Least Developed Countries (LDCs). Illicit financial flows involve the cross-border transfer of the proceeds of corruption, trade in contraband goods, criminal activities and tax evasion.
In recent years, considerable interest has arisen over the extent to which such flows may have a detrimental impact on development and governance in both developed and developing countries alike. This issue has been recognised by the UN as important for development and achievement of the Millennium Development Goals (MDGs). Illicit capital flight, where it occurs, is a major hindrance to …