publication . Article . 2006

Money Laundering, Corruption and Growth: An Empirical Rationale for a Global Convergence on Anti-Money Laundering Regulation

Cavalcante Veiga, Luiz Humberto; Andrade, Joaquim Pinto;
Open Access English
  • Published: 16 May 2006
  • Publisher: eScholarship, University of California
  • Country: Mexico
Abstract
This paper provides empirical evidence on the impact of anti-money laundering regulations on growth and, it examines the rationale for a global adoption of these rules. The empirical results have led us to confirm a positive relation between low corruption levels and high investment and growth. We approached the impact on growth of money laundering prevention (MLP) initiatives in two ways: first, by verifying that the existence of these initiatives affects the perception of corruption. Second, by verifying that MLP variables, such as the ones we are focusing in this article - which criminalize types of money laundering activities different from those drug-relate...
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