Illicit Global Wealth Chains after the financial crisis: micro-states and an unusual suspect

Loading...
Thumbnail Image
File version

Accepted Manuscript (AM)

Author(s)
Sharman, JC
Griffith University Author(s)
Primary Supervisor
Other Supervisors
Editor(s)
Date
2017
Size
File type(s)
Location
License
Abstract

Since the financial crisis, various supra-national initiatives have targeted banking and corporate secrecy, the conventional underpinnings of the illicit Global Wealth Chains through which money from tax evasion, corruption and other financial offences are passed across borders. This paper analyses the varying impact of these initiatives on the diverse types of Wealth Chains running through two stereotypical havens, Liechtenstein and the Seychelles, and one G20/OECD (Organisation for Economic Cooperation and Development) member rarely associated with illicit financial flows, Australia. Recent campaigns have had a significant impact on illicit Global Wealth Chains connected to micro-state tax havens, while leaving those to Australia unaffected. Even with reference to the micro-state havens, however, outside regulatory shifts have in some cases changed the flow or form of Wealth Chains by unintentionally creating new opportunities for offshore finance. Evidence is drawn from interviews and fieldwork in all three countries, secretly recorded footage of intermediaries explaining the workings of illicit Wealth Chains, and corporate and property records collected by a private investigator engaged by the author.

Journal Title

Review of International Political Economy

Conference Title
Book Title
Edition
Volume

24

Issue

1

Thesis Type
Degree Program
School
Publisher link
Patent number
Funder(s)
Grant identifier(s)
Rights Statement
Rights Statement

© 2017 Taylor & Francis (Routledge). This is an Accepted Manuscript of an article published by Taylor & Francis in Review of International Political Economy on 28 Dec 2016, available online: http://www.tandfonline.com/doi/10.1080/09692290.2015.1130736

Item Access Status
Note
Access the data
Related item(s)
Subject

Applied economics

Policy and administration

Policy and administration not elsewhere classified

Political science

Persistent link to this record
Citation
Collections