Estimating Illicit Financial Flows OUP CORRECTED PROOF – FINAL, 25/01/20, Spi OUP CORRECTED PROOF – FINAL, 25/01/20, Spi
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Transnational Corporations Investment and Development
Volume 27 • 2020 • Number 2 TRANSNATIONAL CORPORATIONS INVESTMENT AND DEVELOPMENT Volume 27 • 2020 • Number 2 TRANSNATIONAL CORPORATIONS INVESTMENT AND DEVELOPMENT Geneva, 2020 ii TRANSNATIONAL CORPORATIONS Volume 27, 2020, Number 2 © 2020, United Nations All rights reserved worldwide Requests to reproduce excerpts or to photocopy should be addressed to the Copyright Clearance Center at copyright.com. All other queries on rights and licences, including subsidiary rights, should be addressed to: United Nations Publications 405 East 42nd Street New York New York 10017 United States of America Email: [email protected] Website: un.org/publications The findings, interpretations and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the United Nations or its officials or Member States. The designations employed and the presentation of material on any map in this work do not imply the expression of any opinion whatsoever on the part of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. This publication has been edited externally. United Nations publication issued by the United Nations Conference on Trade and Development. UNCTAD/DIAE/IA/2020/2 UNITED NATIONS PUBLICATION Sales no.: ETN272 ISBN: 978-92-1-1129946 eISBN: 978-92-1-0052887 ISSN: 1014-9562 eISSN: 2076-099X Editorial Board iii EDITORIAL BOARD Editor-in-Chief James X. Zhan, UNCTAD Deputy Editors Richard Bolwijn, UNCTAD -
Vulnerabilities of Indonesia's Extractive Industry to Illicit Financial
Vulnerabilities of Indonesia’s Extractive Industry to Illicit Financial Flows Jimmy Daniel Berlianto Oley, Yerikho Setyo Adi The SMERU Research Institute Universitas Gadjah Mada [email protected] [email protected] p-ISSN 2477-118X e-ISSN 2615-7977 ABSTRACT This article aims to explain the vulnerabilities of Indonesia’s extractive industry governance to the illicit financial flows. Earlier studies figured out that the company in extractive industry has been found to be one of the prominent actors of illicit financial flows. In the case of Indonesia during the period of 2004-2013, the data of Global Financial Integrity (GFI) illustrated that Indonesia is among the top 10 developing countries – which have the highest value of illicit financial flows. This article seeks to explain the nature of illicit financial flows on extractive industry, the causation of why Indonesia’s extractive industry is prone to the illicit financial flows, and finally the recommendation in addressing the issue. In doing so, the researchers conduct the qualitative desk research on explanatory methodology. The result explains that at least there are two natures Volume 4 Nomor 2, Desember 2018 | 75 Vulnerabilities of Indonesia’s Extractive Industry to Illicit Financial Flows of illicit financial flows on extractive industry, the behavior of rent- seeking and the dynamics of commodity prices. This article also found out that there are three main sources of regulatory vulnerability which may accommodate the rent-seeking behavior – which directly and indirectly influence the illicit financial flow, which are the different sets of revenue data, arm’s length measurement within the vulnerable enforcement, and regarding the cost recovery scheme. -
European Parliament
EUROPEAN PARLIAMENT Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion Public Hearing The Panama papers – Discussion with the investigative journalists behind the revelations 27 September 2016 9h00 - 11h30 (2h30) Paul-Henri Spaak 1A002 Brussels Draft PROGRAMME 09:00 - 09:10 Welcome by the PANA Chair 09:10 - 09:20 Pre-recorded messages from Gerard Ryle and Marina Walker, Directors at the International Consortium of Investigative Journalists (ICIJ) [based in Washington DC] Bastian Obermayer, Süddeutsche Zeitung [based in Washington DC] 09:20 - 10:10 Presentations by speakers (all confirmed, at 7 min each) Frederik Obermaier (Süddeutsche Zeitung) (via Skype/ visioconference) Kristof Clerix (Knack magazine, Belgium) Oliver Zihlmann (Sonntagszeitung | Le Matin Dimanche, Switzerland) Julia Stein and Jan Strozyk (Norddeutscher Rundfunk/ NDR, Germany) Minna Knus (MOT, Finnish Broadcasting Company, Finland) 10:30 - 11:25 Discussion with PANA Members 11:25 - 11:30 Conclusions by the PANA Chair Secretariat of the Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion [email protected] PUBLIC HEARING THE PANAMA PAPERS – DISCUSSION WITH THE INVESTIGATIVE JOURNALISTS BEHIND THE REVELATIONS TUESDAY, 27 SEPTEMBER 2016 9.00 - 11.30 Room: Paul-Henri Spaak (1A002) CVS OF THE JOURNALISTS Gerard Ryle Gerard Ryle leads the ICIJ’s headquarters staff in Washington, D.C., as well as overseeing the consortium’s more than 190 member journalists in more than 65 countries. Before joining as the ICIJ’s first non-American director in September 2011, Ryle spent 26 years working as a reporter, investigative reporter and editor in Australia and Ireland, including two decades at The Sydney Morning Herald and The Age newspapers. -
Hidden Wealth
Hidden Wealth Neil Cummins∗ July 1, 2020 Abstract I propose a method to measure hidden wealth using historical archives. Applying this to Eng- land, 1920-1992, it is revealed that elites conceal, at minimum, around 20% of their inherited wealth. Among dynasties, this hidden wealth, independent of declared wealth, predicts appear- ance in the Offshore Leaks Database of 2013-6, house values in 1999, and Oxbridge attendance, 1990-2016. Accounting for hidden wealth eliminates one-third of the observed decline of the top 10% wealth-share over the past century. I find 8,839 dynasties that are hiding at least £7.4 Billion. JEL: N00, N33, N34, D31, H26 Keywords: hidden wealth; inequality; economic history; big data; tax evasion ∗Economic history, LSE and CEPR. Email: [email protected], neilcummins.com. Thanks to Olivier Ac- cominotti, Greg Clark, Morgan Kelly, Andy Summers, Patrick Wallis, Gabriel Zucman and seminar participants at Lucerne, Humboldt and the LSE for helpful suggestions. 1 1 Introduction The 20th century’s ‘Great Equalization’ of wealth in Europe and the United States was the result of the decline of the top wealth-shares. In England the wealth-share of the top 1% transformed from over 75%, in 1900, to less than 20% by 1970. New wealth created by the post-war ‘Golden Age’ of economic growth grew faster than net-of-taxes returns on capital (Piketty (2014), p.362-3). We base this stylized fact primarily upon observed, or declared, wealth. But the incentive to hide wealth exploded over the 20th century. In the 1950s, the top rate of estate tax was around 80%. -
Dstv-Positionen Zur Bundestagswahl 2017
www.dstv.de DStV-Positionen zur Bundestagswahl 2017 Baden- Berlin- Württemberg Brandenburg Rheinland- Saarland Schleswig- Westfalen- Pfalz Holstein Lippe Impressum Verantwortlich für den Inhalt: Deutscher Steuerberaterverband e.V. Littenstraße 10 10179 Berlin Telefon: 030 27876-2 Telefax: 030 27876-799 E-Mail: [email protected] www.dstv.de Stand: Februar 2017 Bildnachweis: © apfelweile - fotolia.de ÜBER DEN DEUTSCHEN STEUERBERATERVERBAND e.V. Der Deutsche Steuerberaterverband e.V. (DStV) repräsentiert bundesweit rund 36.500 und damit über 60 % der selbstständig in eigener Kanzlei tätigen Berufsangehörigen. Er vertritt ihre Interessen im Berufsrecht, im Steuer- recht, der Rechnungslegung und dem Prüfungswesen. Die Berufsangehörigen sind als Steuerberater, Steuerbe- vollmächtigte, Wirtschaftsprüfer, vereidigte Buchprüfer und Berufsgesellschaften, in den uns angehörenden 16 regionalen Mitgliedsverbänden freiwillig zusammengeschlossen. 2 DStV-POSITIONEN ZUR BUNDESTAGSWAHL 2017 EINLEITUNG Deutschland finanziert seine vielfältigen Aufgaben menbedingungen bilden eine attraktive Grundlage, weitgehend durch Steuern. Die Auferlegung und Erhe- Investitionen zu tätigen oder wichtige persönliche Dis- bung der Steuern müssen rechtsstaatlichen Grundsät- positionen zu treffen und damit Risiken einzugehen. zen gerecht werden. So hat das Bundesverfassungsge- richt immer wieder den Grundsatz der Folgerichtigkeit Der Staat ist daher verpflichtet, mithilfe des Steuer- als Ausprägung des Prinzips der Gleichbehandlung rechts entsprechende Rahmenbedingungen -
The Changing Faces of Development Aid and Cooperation: Encouraging Global Justice Or Buttressing Inequalities?
REALITY OF AID 2018 REPORT The Changing Faces of Development Aid and Cooperation: Encouraging Global Justice or Buttressing Inequalities? The Reality of Aid The Changing Faces of Development Aid and Cooperation The Reality of Aid 2018 Report Published in the Philippines in 2018 by IBON International IBON Center, 114 Timog Avenue, Quezon City 1103, Philippines Copyright © 2018 by The Reality of Aid International Coordinating Committee Writer/Editor: Brian Tomlinson Copy editor: Erin Ruth Palomares Layout and Cover Design: Jennifer Padilla Cover Photos: UN Photo/Igor Rugwiza UN Photo/Arpan Munier UN Photo/Marco Dormino Printed and Bound in the Philippines by Zoom Printing Co. Published with the assistance of: Coalition of the Flemish North-South Movement All rights reserved ISBN: 978-971-9657-15-6 i Contents 1 The Reality of Aid Network 3 Acknowledgments 5 Preface 7 Political Overview The Changing Faces of Aid: Encouraging Global Justice or Buttressing Inequalities? The Reality of Aid Network International Coordinating Commitee 29 Part 1: Reports 31 Chapter 1: ODA and the Private Sector to role in achieving the SDGs 33 Development Finance Institutions: The (in)coherence of their investments in private healthcare companies Benjamin M. Hunter, King’s College London; Anna Marriott, Oxfam GB 45 ODA and private sector resources to achieve the SDGs: The Ugandan case Juliet Akello, Uganda Debt Network 53 The Shortcoming of Blended Financing in Development Cooperation within the Energy Sector in Cameroon: Show-casing the Dibamba Thermal Power Project -
2.2. Illicit Financial Flows in Different Contexts
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Draining Development? from Developing Countries Developing from ofIllicitFunds Flows Controlling Peter Reuter Peter edited by DRAINING DEVELOPMENT? DRAINING DEVELOPMENT? Controlling Flows of Illicit Funds from Developing Countries Edited by PETER REUTER THE WORLD BANK © 2012 International Bank for Reconstruction and Development / International Development Association or The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org 1 2 3 4 15 14 13 12 This volume is a product of the staff of The World Bank with external contributions. The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily re- fl ect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to the work is given. For permission to reproduce any part of this work for commercial purposes, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com. -
International Journal on Green Growth and Development Is an Effort to Stir a EDITORIAL Ix Debate Around Emerging ‘Green Growth’ Concepts
RNI No.: DELENG/2015/59477 THE THE INTERNATIONAL JOURNAL INTERNATIONAL JOURNAL ON REEN ROWTH AND ON GREEN GROWTH AND G G DEVELOPMENT DEVELOPMENT Volume 3 January--June 2017 Issue 1 THEME Africa and Green Growth The International Journal on Green Growth and Development is an effort to stir a EDITORIAL ix debate around emerging ‘green growth’ concepts. The publication aims at building ARTICLES knowledge through stakeholder engagement on policy-relevant issues to understand Environmental Policy and Practice in Kenya: Between Cornucopians and Neo-Malthusians 1 the many facets of green growth and development. It is a step towards a forward- India–Africa Relations and Challenges of Sub-Saharan Africa 21 looking knowledge process for new opportunities linked with growth and sustainable Co-existence of Genetically Modified and Non-GM Crops: Implications for Africa 41 development. The journal showcases new research through peer reviewed articles, Climate Change and Dietary Implications: Insights from Sub-Saharan Africa 49 opinions, and innovative practices. The Role of Culture in African Renaissance, Integration, and Sustainable Development 59 GREEN FROM THE GRASSROOTS The Green Belt Movement’s Bamboo Biomass Entrepreneurship Project 67 Kufunda Learning Village: Recovering the Human Spirit for Health and Wholeness 71 Barefoot Women Solar Engineers: An Initiative having Impact in Africa 75 Africa’s Energy Revolution from the Ground Up 83 Women-led Social Enterprises: Trade and Impact Movement 87 Can South Africa Strike the Balance between ‘Sustainable’ -
Democratic Information in an Age of Corporate Power
14 09/2016 N°14 Democratic Information in an Age of Corporate Power Democratic Information in an Age of Corporate Power The Passerelle Collection The Passerelle Collection, realised in the framework of the Coredem initiative (Communauté des sites de ressources documentaires pour une démocratie mondiale– Community of Sites of Documentary Resources for a Global Democracy), aims at presenting current topics through analyses, propos- als and experiences based both on field work and research. Each issue is an attempt to weave together various contribu- tions on a specific issue by civil society organisations, media, trade unions, social movements, citizens, academics, etc. The publication of new issues of Passerelle is often associated to public conferences, «Coredem’s Wednesdays» which pursue a similar objective: creating space for dialogue, sharing and build- ing common ground between the promoters of social change. All issues are available online at: www.coredem.info Coredem, a Collective Initiative Coredem (Community of Sites of Documentary Resources for a Global Democracy) is a space for exchanging knowl- edge and practices by and for actors of social change. More than 30 activist organisations and networks share informa- tion and analysis online by pooling it thanks to the search engine Scrutari. Coredem is open to any organisation, net- work, social movement or media which consider that the experiences, proposals and analysis they set forth are building blocks for fairer, more sustainable and more responsible societies. Ritimo, the Publisher The organisation Ritimo is in charge of Coredem and of publishing the Passerelle Collection. Ritimo is a network for information and documentation on international solidarity and sustainable development. -
Paradise Papers: a Global Investigation | Pulitzer Center 5/6/20, 11:36 AM
Paradise Papers: A Global Investigation | Pulitzer Center 5/6/20, 11:36 AM ACCESS OUR LATEST REPORTING AND RESOURCES ON COVID-19 → (https://pulitzercenter.org/covid-19) × PROJECT Paradise Papers The Paradise Papers is a global investigation that reveals the offshore activities of ICIJ's global investigation that reveals the some of the world’s most powerful people and companies. offshore activities of some of the world’s most powerful people and companies. The International Consortium of Investigative Journalists and more than 95 media AUTHOR partners explored 13.4 million leaked files from a combination of offshore law firms and company registries of some of the world’s most secretive countries. The files were obtained by the German newspaper Süddeutsche Zeitung. ALVARO ORTIZ As a whole, the Paradise Papers expose offshore holdings of political leaders and their financiers as well as household-name companies that slash taxes and operate (https://pulitzercenter.org/people/alvaro- in secret. Financial deals of billionaires, celebrities and sports stars are also ortiz) revealed in the documents. Grantee The leak details the offshore activities of 13 advisers, donors and members of Álvaro Ortiz is the founder of Populate, a product design studio focused on civic engagement. Among President Donald J. Trump’s administration, including Commerce Secretary Wilbur other projects, Populate created the Panama Papers Ross’s interests in a shipping company that makes millions of dollars from an website and Offshore Leaks searchable database... energy firm whose owners include Russian President Vladimir Putin’s son-in-law and a sanctioned Russian tycoon. ROCCO FAZZARI President Donald Trump vowed to fight the power of global elites and told voters he would put “America First.” But surrounding Trump are a number of close (https://pulitzercenter.org/people/rocco- associates who have used offshore tax havens to conduct business. -
Policy Challenges from Closer International Trade and Financial Integration: Dealing with Economic Shocks and Spillovers
OECD Economic Outlook, Volume 2018 Issue 1 © OECD 2018 Chapter 2 POLICY CHALLENGES FROM CLOSER INTERNATIONAL TRADE AND FINANCIAL INTEGRATION: DEALING WITH ECONOMIC SHOCKS AND SPILLOVERS 49 2. POLICY CHALLENGES FROM CLOSER INTERNATIONAL TRADE AND FINANCIAL INTEGRATION: DEALING... Introduction and summary Global economic integration has been a powerful driver of increased economic efficiency and improved living standards around the world, and has contributed to sizeable economic gains in emerging market economies (EMEs). In spite of these gains, enhanced integration has also raised concerns about the costs it has imposed on vulnerable groups and its potential impact on inequality in advanced economies. These issues have been analysed extensively by the OECD, with a comprehensive review provided in the Key Issues Paper for the 2018 Ministerial Council Meeting (OECD, 2018e). This chapter focuses on particular consequences of deeper global economic integration: the impact of closer trade and financial linkages on the propagation of economic shocks and on the transmission channels and effectiveness of macroeconomic policies. The main findings reported in the chapter can be summarised as follows: ● Closer trade and financial integration since the mid-1990s has made economies more dependent on developments abroad. Trade intensity has increased, helped by the expansion of global value chains (GVCs), and cross-border asset and liabilities have risen considerably relative to GDP. Integration is particularly apparent in financial markets, with a common global factor increasingly determining domestic equity and government bond prices. Global factors tend to have a smaller impact on economic growth and inflation than on financial variables. Large economies or regions remain relatively closed, despite increased openness in recent decades. -
Global Trendometer
Global Trendometer Essays on medium- and long-term global trends Summer 2017 GLOBAL TRENDOMETER Essays on medium- and long-term global trends Summer 2017 Study September 2017 Global Trends Unit AUTHORS Danièle Réchard, Head of Unit Eamonn Noonan Freya Windle-Wehrle Marcin Cesluk-Grajewski, Strategy and Coordination Unit Agnieszka Widuto, Structural Policies Unit Anne Altmayer, Economic Policies Unit Tara Riva (Trainee; Supervisor: Eamonn Noonan) Kaisa Alliksaar (Trainee; Supervisor: Leopold Schmertzing) ABOUT THE PUBLISHER This paper has been drawn up by the Global Trends Unit of the Directorate for Impact Assessment and European Added Value within the Directorate–General for Parliamentary Research Services (DG EPRS) of the European Parliament. To contact the Global Trends Unit please write to: [email protected]. ADDITIONAL CONTRIBUTIONS Tatjana Evas, Roderick Harte, Patryk Pawlak, Amandine Scherrer, Rosamund Shreeves and Gaby Umbach, Policy Analysts, DG EPRS. LINGUISTIC VERSION Original: EN Manuscript completed in August 2017 Brussels, © European Union, 2017 Cover photo: Johannes Vermeer, The Astronomer, Public Domain, Wikimedia Commons. DISCLAIMER This document is prepared for, and addressed to, the Members and staff of the European Parliament as background material to assist them in their parliamentary work. The content of the document is the sole responsibility of its author(s) and any opinions expressed herein should not be taken to represent an official position of the Parliament. PE 603.253 Print: ISBN 978-92-846-1495-0 ISSN 2529-6337 DOI:10.2861/249451 QA-JA-17-001-EN-C PDF: ISBN 978-92-846-1496-7 ISSN 2529-6345 DOI:10.2861/782776 QA-JA-17-001-EN-N PE 603.253 2 Global Trendometer - Summer 2017 Table of Contents Introduction.....................................................................................................................................................5 Essays Sub-Saharan Africa: Demography is not destiny..