Macroeconomic Implications of Money Laundering

Peter Quirk

No 1996/066, IMF Working Papers from International Monetary Fund

Abstract: This paper reviews the main analytical, empirical, and policy issues related to the macroeconomic implications of money laundering. The paper discusses, first, how money laundering can be measured, given that it is unobservable, and reports cross-section econometric estimates of the displacement of monetary behavior in industrial countries attributed to money laundering. It then examines the various potential channels by which money laundering influences macroeconomic performance, including an econometric estimate of its effects on GDP growth rates. Finally, the paper discusses macropolicy implications, particularly in the areas of exchange controls, prudential banking supervision, tax evasion, statistical reporting, and legislation.

Keywords: WP; market; transaction; proceeds; insider trading; right; criminal offense; financial activity; derivatives transaction; market exchange; transactions turnover; GDP deflator; crime variable; currency transaction; banking transaction; market forces; Money laundering; Tax evasion; Currencies; Anti-money laundering and combating the financing of terrorism (AML/CFT); Europe (search for similar items in EconPapers)
Pages: 42
Date: 1996-06-01
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Citations: View citations in EconPapers (27)

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