draining development.pdf - Khazar University

516 IndexIASB (International AccountingStandards Board), 270, 291, 295Iceland, and TPM, 277IFFs. See illicit financial flowsIFRS (International Financial ReportingStandard) 8, 294IFRSs (International FinancialReporting Standards), 13, 270,289, 293–94, 302illegal/clandestine migration, 176–77,182–84, 182f, 188–90, 194t. Seealso human traffickingillegal markets and IFFs, 3–4, 10–11,492–94. See also humantrafficking; money laundering inColombiaillicit financial flows (IFFs), 1–17analytical framework for, 7–8, 21–64.See also analytical frameworkfor understanding IFFsdefining, 7, 17n10, 23–26, 69,70–72, 71t, 303n3, 317,495–97estimates and sources, 2, 3–6, 3t,494–98from human trafficking, 10–11,171–99. See also humantraffickingin illegal markets, 3–4, 10–11,492–94. See also humantrafficking; money laundering inColombiainternational profit shifting and,9–10, 109–39. See alsointernational profit shifting,tax-inducedkleptocracy, 14–15, 415–53, 488. Seealso kleptocracymoney launderingAML controls, 14, 373–411. Seealso anti-money laundering(AML) controlsin Colombia, 10, 145–67. See alsomoney laundering in Colombiamultinational corporations and, 5,11–13, 205, 206, 209, 236. Seealso international profit shifting,tax-induced; trade mispricing;transfer pricing and transferprice manipulationpolicy responses to, 6–7, 13–15,483–503. See also policyresponses to IFFspolitical economy of, 7–10, 457–80.See also political economy ofIFFspotential benefits of, 496–97, 499research agenda for, 499–501significance of, 498–99stolen asset recovery, 14–15. See alsostolen asset recoverytax evasion and avoidance, 8–10,69–98. See also tax evasion andavoidancetax havens and, 6, 13–14, 337–68.See also tax havensTPM, 11–13, 205–28, 235–63,265–305. See also transferpricing and transfer pricemanipulationtrade mispricing and, 11, 13, 309–32.See also trade mispricingILO (International LabourOrganization), 178, 179, 180IMF (International Monetary Fund),4, 7, 98n43, 317, 322, 341–42,344, 350, 359–60, 365, 398, 487immigration. See migrationInchauste, G., 314income inequality, growing rate of, 461income-shifting. See international profitshifting, tax-induced; transferpricing and transfer pricemanipulation