Illicit Financial Flows and the 2013 Commitment to Development Index

Petr Janský

No 34, Policy Papers from Center for Global Development

Abstract: Over the past years illicit financial flows have attracted increasing attention from researchers and policy makers because of their negative effects on developing countries. In 2013 the OECD DAC Senior level meeting acknowledged illicit flows as an issue of “central importance”. Since 2003, the Center for Global Development has been publishing the Commitment to Development Index (CDI) which ranks rich countries on their policies which affect development abroad. This paper discusses the possible inclusion of indicators of policies affecting illicit financial flows. It provides a survey of existing approaches to measuring these flows, discusses possible metrics which could be included in the CDI, evaluates how such indicators might be incorporated into the Index, and proposes changes to current CDI indicators. The qualitative indicators of the Financial Secrecy Index emerge as the best available contribution to the newly renamed and updated Finance component of the CDI.

Pages: 30 pages
Date: 2013-10-13
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Persistent link: https://EconPapers.repec.org/RePEc:cgd:ppaper:34

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