Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions
This paper reviews the literature that explores the drivers and effects of financial secrecy on emerging economies. It shows that most of the research on financial secrecy has been focused on issues of tax avoidance, neglecting the problems of inst...
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/512681596468706087/Hide-and-Protect-A-Role-of-Global-Financial-Secrecy-in-Shaping-Domestic-Institutions http://hdl.handle.net/10986/34280 |
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okr-10986-342802022-09-20T00:13:07Z Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions Sharafutdinova, Gulnaz Lokshin, Michael FINANCIAL REGULATION FINANCIAL TECHNOLOGY FINANCIAL SECRECY FINANCIAL FLOWS EMERGING MARKET ECONOMIES TAX EVASION CORPORATE SOCIAL RESPONSIBILITY This paper reviews the literature that explores the drivers and effects of financial secrecy on emerging economies. It shows that most of the research on financial secrecy has been focused on issues of tax avoidance, neglecting the problems of institutional arbitrage that go beyond taxation issues. The paper discusses the limits of the institutionalist paradigm that treats businesses solely as rule-takers and calls for more attention to business agency and responsibility. Discussions about corporate social responsibility in emerging economies should incorporate thinking about the potential role that businesses, and especially big corporations, could play in promoting more effective institutions at home. Further research is needed to understand the political and institutional effects of global financial secrecy at the domestic level. The paper suggests some promising avenues for future research as well as new items to be included on the policy-making agenda in relation to financial secrecy. 2020-08-06T14:39:57Z 2020-08-06T14:39:57Z 2020-08 Working Paper http://documents.worldbank.org/curated/en/512681596468706087/Hide-and-Protect-A-Role-of-Global-Financial-Secrecy-in-Shaping-Domestic-Institutions http://hdl.handle.net/10986/34280 English Policy Research Working Paper;No. 9348 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
FINANCIAL REGULATION FINANCIAL TECHNOLOGY FINANCIAL SECRECY FINANCIAL FLOWS EMERGING MARKET ECONOMIES TAX EVASION CORPORATE SOCIAL RESPONSIBILITY |
| spellingShingle |
FINANCIAL REGULATION FINANCIAL TECHNOLOGY FINANCIAL SECRECY FINANCIAL FLOWS EMERGING MARKET ECONOMIES TAX EVASION CORPORATE SOCIAL RESPONSIBILITY Sharafutdinova, Gulnaz Lokshin, Michael Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions |
| relation |
Policy Research Working Paper;No. 9348 |
| description |
This paper reviews the literature that
explores the drivers and effects of financial secrecy on
emerging economies. It shows that most of the research on
financial secrecy has been focused on issues of tax
avoidance, neglecting the problems of institutional
arbitrage that go beyond taxation issues. The paper
discusses the limits of the institutionalist paradigm that
treats businesses solely as rule-takers and calls for more
attention to business agency and responsibility. Discussions
about corporate social responsibility in emerging economies
should incorporate thinking about the potential role that
businesses, and especially big corporations, could play in
promoting more effective institutions at home. Further
research is needed to understand the political and
institutional effects of global financial secrecy at the
domestic level. The paper suggests some promising avenues
for future research as well as new items to be included on
the policy-making agenda in relation to financial secrecy. |
| format |
Working Paper |
| author |
Sharafutdinova, Gulnaz Lokshin, Michael |
| author_facet |
Sharafutdinova, Gulnaz Lokshin, Michael |
| author_sort |
Sharafutdinova, Gulnaz |
| title |
Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions |
| title_short |
Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions |
| title_full |
Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions |
| title_fullStr |
Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions |
| title_full_unstemmed |
Hide and Protect : A Role of Global Financial Secrecy in Shaping Domestic Institutions |
| title_sort |
hide and protect : a role of global financial secrecy in shaping domestic institutions |
| publisher |
World Bank, Washington, DC |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/512681596468706087/Hide-and-Protect-A-Role-of-Global-Financial-Secrecy-in-Shaping-Domestic-Institutions http://hdl.handle.net/10986/34280 |
| _version_ |
1764480565947400192 |