The impact of money laundering in beautiful places: The case of Trinidad and Tobago

Henry, Lester; Moses, Shanice

doi:10.5897/jeif2019.1017

Cited by 4 publications

(2 citation statements)

References 1 publication

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“…Using corruption and the size of informal economy as proxy indicators for money laundering, their results suggest that money laundering is harmful to economic growth. Henry and Moses (2020) undertake a different approach and use the cointegration and error-correction modelling techniques to examine short- and long-run links between money laundering and economic growth in Trinidad and Tobago for the period from 1990 to 2017. They use narcotics and fraud offences as two indicators of the extent of money laundering activities.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Empirically, the existing studies that have looked at the repercussions of money laundering on the economies' sustainable development are still remain not sufficient and provide also inconclusive results (Hendriyetty and Grewal, 2017;Javaid and Arshed, 2022). While studies such as those by Quirk (1996), Argentiero et al (2008), Hetemi et al (2018), Janjua and Khan (2020), Slany et al (2020), Slama and Gueddari (2022) and Padil et al (2022) establish a negative association between money laundering and sustainable development, other studies such as those by Stancu and Rece (2009), Henry and Moses (2020), Achim et al (2021) and Alnasser Mohammed (2021) provide evidence that money laundering may have positive sustainability effects.…”

Section: Introductionmentioning

confidence: 99%

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Is money laundering a hurdle to achieving Sustainable Development Goals?

Gueddari

Saafi²,

Nouira

2023

JMLC

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Purpose The purpose of this study provide answers to the following research questions: Whether and to what extent money laundering affects the achievability and the trend of Sustainable Development Goals (SDGs)?; Does the influence of money laundering on the SDGs’ achievement differ from developing to developed countries?; How does the influence of money laundering vary among the 17 SDGs? Design/methodology/approach The paper’s analysis involves two key parts. In the first part, the authors perform a multivariate analysis to examine the influence of money laundering on the achievement of SDGs, and then in the second part, the authors make use of an ordered probit regression model to investigate the impact of money laundering on the trend of attaining each SDG. Findings Using a sample of 98 developed and developing countries, the regression results from multivariate analysis estimates show that money laundering has a strong inhibiting effect on the achievement of almost all the SDGs in the whole sample of countries and the sub-sample of developing countries, whereas no significant effect is observed for developed countries. However, for the SDG trends, the ordered probit estimates reveal that the harmful effect of money laundering occurs for all countries regardless their development level. In addition, perhaps surprisingly, the results from both the approaches yield also evidence advocating that money laundering activities might be associated with positive externalities on production and consumption. In fact, money laundering is found to have a significant positive influence on the achievement and the trend of SDG12 (Sustainable Consumption and Production). Overall, this study’s findings do have interesting policy implications, especially for developing countries. In these countries, prioritising the formulation and implementation of sound anti-money laundering policies is a necessary requirement for their progress towards achieving the SDGs. Originality/value The long-standing tradition of previous empirical studies examining the nexus between money laundering and sustainable development concentrates mainly on the economic dimension of sustainability (i.e. economic growth). However, little is known about the consequences of money laundering activities on the environment and the societies. Consequently, this study seeks to fill this gap by assessing the influence of money laundering on the achievement of the economic, environmental and social goals of sustainable development. To the best of the authors’ knowledge, this is the first integrated study to analyse the potential repercussions of money laundering on the SDGs’ achievement.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Is money laundering a hurdle to achieving Sustainable Development Goals?

Gueddari

Saafi²,

Nouira

2023

JMLC

View full text Add to dashboard Cite

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The Relationship Between Money Laundering and Economic Growth in the MENA Region—A Simultaneous Equation Model

Slama

Gueddari

2022

Key Challenges and Policy Reforms in the MENA Region

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Money laundering, corruption and socioeconomic development in Iran: an analysis by structural equation modeling

Dell’Anno

Maddah

2023

Int Rev Econ

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This paper aims to assess the effects of money laundering (ML) and corruption on socioeconomic development in Iran as a case study for developing countries. We also investigate the complex interactions among socioeconomic development, ML, corruption, private expenditure, and dependence of the Iranian economy on oil production. The paper uses the partial least squares approach to structural equation modeling (PLS-SEM) to estimate an index of Iranian ML over the period 1997–2017. The results show that in the short run, there is a positive overall effect of ML on economic development. This effect is due to the multiplicative effect of the reinvestment of criminal proceeds in the national economy. We estimate that, in the last decade, a plausible estimate of Iranian ML is approximately 10% of official GDP. From a methodological perspective, this research applies a new calibration approach to convert the latent scores calculated by PLS-SEM into actual values of ML.

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The impact of money laundering in beautiful places: The case of Trinidad and Tobago

Cited by 4 publications

References 1 publication

Is money laundering a hurdle to achieving Sustainable Development Goals?

Is money laundering a hurdle to achieving Sustainable Development Goals?

The Relationship Between Money Laundering and Economic Growth in the MENA Region—A Simultaneous Equation Model

Money laundering, corruption and socioeconomic development in Iran: an analysis by structural equation modeling

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