Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/185526
Authors: 
Bayer, Ralph-C.
Hodler, Roland
Raschky, Paul A.
Strittmatter, Anthony
Year of Publication: 
2018
Series/Report no.: 
CESifo Working Paper 7328
Abstract: 
Using the Panama Papers, we show that the beginning of media reporting on expropriations and property confiscations in a country increases the probability that offshore entities are incorporated by agents from the same country in the same month. This result is robust to the use of country-year fixed effects and the exclusion of tax havens. Further analysis shows that the effect is driven by countries with non-corrupt and effective governments, which supports the notion that offshore entities are incorporated when reasonably well-intended and well-functioning governments become more serious about fighting organized crime by confiscating proceeds of crime.
Subjects: 
expropriations and confiscations
offshore entities
tax havens
Panama Papers
JEL: 
H26
K42
Document Type: 
Working Paper

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