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Governance of Money Laundering: An Application of the Principal-agent Model

  • Shah, Syed Azhar Hussain
  • Shah, Akhter Hussain
  • Khan, Sajawal

In this model we evaluate the strategy of principal (international financial regime) and affectivity of the network of money transaction to minimize transaction of money through money laundering by making laws and procedure and get these implemented by agents. With the application of present value method of cost and returns to agents and clients payoff matrix is developed. The present strategy of principal seems suboptimal to involve informal agents and clients in anti- money laundering measures and it needs revision to involve them through incentives.

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File URL: http://mpra.ub.uni-muenchen.de/8868/1/MPRA_paper_8868.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8868.

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Date of creation: 2006
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Publication status: Published in The Pakistan Development Review 4.45(2006): pp. 1117-1133
Handle: RePEc:pra:mprapa:8868
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Web page: http://mpra.ub.uni-muenchen.de

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  1. Robert J. Barro, 1996. "Determinants of Economic Growth: A Cross-Country Empirical Study," NBER Working Papers 5698, National Bureau of Economic Research, Inc.
  2. Dominik H. Enste & Friedrich Schneider, 2000. "Shadow Economies: Size, Causes, and Consequences," Journal of Economic Literature, American Economic Association, vol. 38(1), pages 77-114, March.
  3. Casey B. Mulligan & Xavier Sala-i-Martin, 1994. "A labor-income-based measure of the value of human capital: An application to the States of the United States," Economics Working Papers 106, Department of Economics and Business, Universitat Pompeu Fabra, revised Dec 1994.
  4. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-25, June.
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