The Negative Impact of Unreported Foreign Asset Ownership in Developing Countries

The Negative Impact of Unreported Foreign Asset Ownership in Developing Countries

how the errors and omissions category in developing countries often reflects unreported foreign asset ownership, which is seen as an indicator of potential illicit activities. We recognize that when capital leaves a country, it has significant negative effects on the economy, as the country loses one of its scarce resources, often to secretive sources, and also misses out on potential gains from domestic investment.

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