International Drivers of Corruption

Some global mechanisms allow corruption to be a profitable crime. Find out how to deal with the negative impact this brings to developing countries.

Globalisation has been beneficial in many ways. However, the structures that facilitate legitimate businesses and international financial transactions are also used for illicit purposes: laundering proceeds of corruption, generating illicit flows out of development countries, paying bribes or evading taxes. These mechanisms create incentives for corrupt behavior in developing and developed countries and need solutions at local and international levels.

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Illicit financial flows and their impacts on development

Lecture by Raymond Baker from Global Financial Integrity (1 Oct 2010)
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Author: Ndikumana, L and Boyce, J
Release date: April 2008

New Estimates of Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and Policy Options

The authors start by estimating capital flight for 40 African countries over the period of 1970-2004 and following reviewing the literature on the causes of capital flight from sub-Saharan Africa. Econometric evidence establishes the linkages between external borrowing and capital flight. They suggest strategies to prevent and reverse capital flight with a special emphasis on the rationale for advocating the doctrine of odious debt for the repudiation of illegitimate debts.

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Author: Baker, R
Release date: January 2005

Capitalism’s Achilles Heel: Dirty Money and How to Renew the Free-Market System

Baker’s trajectory from a business man in Nigeria to a global campaigner against secrecy jurisdictions serves as the underlying platform to present an analysis of the main weakness of capitalist practices: the willingness of rich countries to accept dirty money from poor countries and their unwillingness to acknowledge that this contributes to continued extreme levels of poverty worldwide. The author explains how illicit financial flows (and the international financial systems’ role in enabling those flows) contribute to high inequality levels and result in extreme poverty. (This book is available for purchase from the publisher)

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