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Illicit Financial Flows and Growth of Developing Countries
Current Issue
Volume 4, 2016
Issue 3 (June)
Pages: 16-22   |   Vol. 4, No. 3, June 2016   |   Follow on         
Paper in PDF Downloads: 61   Since Jun. 3, 2016 Views: 1026   Since Jun. 3, 2016
Authors
[1]
Ayankeng Godlove Nkemkiafu, Strategic Management and Marketing, Department of Economics and Management Sciences, University of Yaounde II Soa, Yaunde, Cameroon.
[2]
Atonque Elvis Tanyisoh, Marketing, School of Business Administration, Cardiff Metropolitan University, Cardiff, UK.
Abstract
This paper investigates the impact of illicit financial flows on the growth of developing economies. Data was collected from world bank and global finance integrity. Variables used to capture illicit financial flows are illicit hot money and trade misinvoicing, the variables used to capture growth of developing economies weregross domestic, domestic trade, official development assistance anddirect investment. We run a series of multiple regressions of illicit financial flows variables on explanatory variables defining the growth of developing economies. Our results showed that illicit financial flows have a negative effect on gross domestic product domestic trade, official development assistance and direct investment.
Keywords
Illicit Financial Flows, Growth, Developing Countries
Reference
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