Working Paper
How do voters respond to information on self-serving elite behaviour?
Does self-serving elite behaviour make citizens more politically active? This paper presents the results of a randomized field experiment where voters in Tanzania were given information about elite use of tax havens. Information provided in a neutral...
Working Paper
Sanction-busting through tax havens
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...
Journal Article
Illicit financial flows and developing countries
Illicit financial flows (IFFs) constitute a major challenge for development in low-income countries, as domestic resource mobilization is imperative for providing crucial public services. This study focuses exclusively on the economic dimension of...
Working Paper
The tax-price elasticity of offshore tax avoidance
This study leverages a unique data set on the universe of transactions exiting the Ecuadorian economy to estimate the tax-price elasticity of demand for tax-sheltering activities using offshore fiscal havens. I determine this elasticity quasi...
Working Paper
Hide–seek–hide? The effects of financial secrecy on cross-border financial assets
Excessive financial secrecy facilitates illicit financial flows, which constitute a major developmental challenge for low-income economies and cause significant tax revenue losses for governments around the world. In this paper we estimate the semi...
Working Paper
The indirect costs of corporate tax avoidance exacerbate cross-country inequality
Corporate tax avoidance hampers domestic revenue mobilization and, with it, the development of lower- and middle-income countries. While a wide range of studies has shed light on the magnitude of profit shifting by multinational corporations, the...
Working Paper
Incorporation of offshore shell companies as an indicator of corruption risk in the extractive industries
We show that the incorporation of offshore entities increases when oil and gas exploration licences are awarded. We exploit leaked data on the incorporation of shell companies and detailed information on tax havens and the awarding rounds of oil...
Working Paper
Profit-shifting behaviour of emerging multinationals from India
This paper examines the profit-shifting behaviour of emerging multinational firms from India. It is found that the before-tax profitability of subsidiaries differs according to whether they were established directly or via an Offshore Financial...
Working Paper
Profit shifting by multinational corporations
Research on profit shifting by multinational corporations in developing countries is limited due to a lack of data. In this paper we use, for the first time, novel administrative data on the transactions of multinational corporations operating in...
Working Paper
Illicit financial flows and the Global South
Illicit financial flows (IFFs) constitute a major challenge for development in the Global South, as domestic resource mobilization is imperative for providing crucial public services. While several methods offer to measure the extent of IFFs, each...
Working Paper
Offshore tax evasion in developing countries
Offshore tax havens cause large losses of government revenue by facilitating tax evasion by wealthy individuals. This paper focuses on offshore tax evasion in developing countries and documents two empirical regularities. First, there is no clear...