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Sanction-busting through tax havens

Author

Listed:
  • Kerim Can Kavakli
  • Giovanna Marcolongo
  • Diego Zambiasi

Abstract

Financial sanctions, which aim to economically hurt a target by restricting its access to financial assets and markets, require the ability to identify who owns an asset. Although experts have long claimed that offshore financial centres that offer secrecy ('tax havens') undermine sanctions by hiding ownership information, so far data limitations have prevented a rigorous test of this claim.

Suggested Citation

  • Kerim Can Kavakli & Giovanna Marcolongo & Diego Zambiasi, 2023. "Sanction-busting through tax havens," WIDER Working Paper Series wp-2023-55, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2023-55
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2023-55-sanctions-busting-through-tax-havens.pdf
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    References listed on IDEAS

    as
    1. Gabriel Zucman, 2013. "The Missing Wealth of Nations: Are Europe and the U.S. net Debtors or net Creditors?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 128(3), pages 1321-1364.
    2. J. M. C. Santos Silva & Silvana Tenreyro, 2006. "The Log of Gravity," The Review of Economics and Statistics, MIT Press, vol. 88(4), pages 641-658, November.
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    More about this item

    Keywords

    Sanctions; Financial assets; Tax havens; Offshore financial centres; Financial secrecy; Finance;
    All these keywords.

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