Safeguarding wealth

Arvind K. Jain ()

Chapter 6 in Understanding Political Corruption, 2025, pp 114-134 from Edward Elgar Publishing

Abstract: Political corruption would be less attractive if the wealth gathered could not be safeguarded. Most corrupt regimes, expecting a short life expectancy, are advised to invest their wealth in international financial markets. Fortunately for corrupt politicians, the policies of wealthy countries facilitate the preservation of this ill-gotten wealth. Domestic growth in wealthy countries is positively affected by the stimulus received from foreign investment. Authoritarian leaders may be credited with helping wealthy countries achieve their foreign policy goals. Some corrupt wealth owners may even be allies of powerful domestic players. Enablers, such as consulting and accounting firms, international banks, and legal and tax advisors, guide wealth owners in their quest to safeguard their corrupt income.

Keywords: Tax havens; Capital flight; International financial markets; Money laundering; Political alliances; International enablers; Foreign policy goals (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035325092
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