Illicit Financial Flows and Growth of Developing Countries
[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.
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.
Illicit Financial Flows, Growth, Developing Countries
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