Developing countries are worlds net creditors
Nairobi, Kenya
Nairobi, Kenya
The report is published as a part of the TaxCapDev research project: The Role of Tax Havens: In Global Governance and Regulation; In the External Financial Equation for Economic Development.
Titled “Financial Flows and Tax Havens: Combining to Limit the Lives of Billions of People,” the report shows that since 1980 developing countries lost US$16.3 trillion dollars through broad leakages in the balance of payments, trade misinvoicing, and recorded financial transfers. – There is perhaps no greater driver of inequality within developing countries than the combination of illicit financial flows and offshore tax havens. says Ramoynd Baker, founder of Global Financial Integrity.
– Now that we see that the cash flow from South to North is greater than from North to South, our project findings challenge our notions of generosity. Our findings also provide an ethical perspective on tax havens, tax evasion and secrecy,’ says project manager Dr. Guttorm Schjelderup from the Norwegian School of Economics.
This report was written by Dr. Dev Kar at Global Financial Integrity and Dr. Guttorm Schjelderup of the Centre for Applied Research at the Norwegian School of Economics.
Fact
- NUPI coordinates the SkattJakt/TaxCapDev network which brings together the NORGLOBAL TaxCapDev researchers and projects to relevant actors in Norway and globally.
- Dr. Guttorm Schjelderup at is the project manager of the research project The Role of Tax Havens: In Global Governance and Regulation; In the External Financial Equation for Economic Development
- Also participating in the project is Global Financial Integrity (GFI) in the USA, and research assistance is provided by economists in Brazil, India, and Nigeria
- Funding for the project is provided by the Research Council of Norway.