Peter J. Quirk, 'Money laundering :muddling the macroeconomy', Finance and Development, March 1997 - a review

Abstract

This article is based on a 1996 study by the author on "macro economy implication of money laundering" IMF working paper 96/66. The article established that money laundering exists and threatens the macroeconomic and financial system of many countries. It then proposed that it is time the international financial community strongly support anti-laundering efforts. The article is divided into four parts; part one, is the introduction and framework; part two, examines how big the problem is - the macroeconomic effects; while part three, focuses on policy implications; finally, part four, concludes the paper.