Sanction-busting through tax havens

Kerim Can Kavakli, Giovanna Marcolongo and Diego Zambiasi

No wp-2023-55, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Financial sanctions, which aim to economically hurt a target by restricting its access to financial assets and markets, require the ability to identify who owns an asset. Although experts have long claimed that offshore financial centres that offer secrecy ('tax havens') undermine sanctions by hiding ownership information, so far data limitations have prevented a rigorous test of this claim.

Keywords: Sanctions; Financial assets; Tax havens; Offshore financial centres; Financial secrecy; Finance (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-pbe
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