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dc.contributor.authorChong, Albertoen_US
dc.contributor.authorLópez-de-Silanes, Florencioen_US
dc.date.accessioned2010-02-23en_US
dc.date.accessioned2011-11-18T11:47:58Z-
dc.date.available2011-11-18T11:47:58Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/51469-
dc.description.abstractThe recent wave of terrorist attacks has increased the attention paid to money laundering activities. Using several methodologies, this paper investigates empirically the determinants of money laundering and its regulation in over 80 countries by assembling a cross-country dataset on proxies for money laundering and the prevalence of feeding activities. The paper additionally constructs specific money laundering regulation indices based on available information on laws and their mechanisms of enforcement and measures their impact on money laundering proxies. The paper finds that tougher money laundering regulations, particularly those that criminalize feeding activities and improve disclosure, are linked to lower levels of money laundering across countries; the results are robust to potential endogeneity of money laundering regulation. The relevance of historical factors in explaining the variation of money laundering regulation across countries sheds light on theories of institutions and provides room for further action, particularly in the areas of the law that improve the impact of criminalization, including liability of intermediaries, reductions of the burden of proof and better disclosure.en_US
dc.language.isoengen_US
dc.publisherInter-American Development Bank, Research Dep. Washington, DCen_US
dc.relation.ispartofseriesWorking paper // Inter-American Development Bank, Research Department 590en_US
dc.subject.jelK40en_US
dc.subject.jelG10en_US
dc.subject.ddc330en_US
dc.subject.keywordMoney launderingen_US
dc.subject.keywordregulationen_US
dc.subject.keywordlawsen_US
dc.subject.keywordcrimeen_US
dc.subject.keywordenforcementen_US
dc.subject.stwGeldwäscheen_US
dc.subject.stwWelten_US
dc.titleMoney laundering and its regulationsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn585535043en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Research Department Working Papers, Inter-American Development Bank

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