IMF Working Papers

Macroeconomic Implications of Money Laundering

By Peter J. Quirk

June 1, 1996

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Peter J. Quirk Macroeconomic Implications of Money Laundering, (USA: International Monetary Fund, 1996) accessed November 21, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Currencies, Money, Money laundering, Revenue administration, Tax evasion

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking transaction, Crime variable, Criminal offense, Currencies, Currency transaction, Derivatives transaction, Europe, Financial activity, GDP deflator, Insider trading, Market, Market exchange, Market forces, Money laundering, Proceeds, Right, Tax evasion, Transaction, Transactions turnover, WP

Publication Details

  • Pages:

    42

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 1996/066

  • Stock No:

    WPIEA0661996

  • ISBN:

    9781451962123

  • ISSN:

    1018-5941

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