Impact of economic and financial crimes on economic growth in emerging and developing countries

Saddiq, Sani Abubakar; Bakar, Abu

doi:10.1108/jfc-10-2018-0112

Cited by 19 publications

(14 citation statements)

References 11 publications

(14 reference statements)

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“…As shown in Table 3, IFF have a significant effect on Economy Growth ( ß = −0.152, p < 0.05), thereby providing support to H1 . This finding is consistent with previous studies (Wanjau and Tobias, 2020; Saddiq and Bakar, 2019) which found that IFF (i.e. misinvoicing, money laundering and accounting fraud) had a negative significant influence on economic growth.…”

Section: Resultssupporting

confidence: 93%

“…Studies suggest that the incidence of economic and financial crimes in emerging and developing countries are high (Saddiq and Bakar, 2019), where deliberate misrepresentation of exports and imports declared in customs invoices is a common example. Capital outflows arising from such fraudulent custom declaration are unrecorded and this involves illicit funds (Kar and Freitas, 2013).…”

Section: Introductionmentioning

confidence: 99%

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Effect of quality of governance on the relationship between illicit financial flows and economic growth

Padil

Kasim

Razali

et al. 2021

JFC

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Purpose The purpose of this paper is twofold. First, the study aims to examine the direct effect of illicit financial flows (IFF) and quality of governance (QoG) on economic growth. Second, this study seeks to examine the moderating effect of QoG on the economic consequences of IFF. Design/methodology/approach This study collected data from nine The Association of Southeast Asian Nations (ASEAN) countries for the period of 10 years from 2008 to 2019. The study concerned an analysis of the testing of a conceptual framework which based on secondary data which may lack a comprehensive substantiation on the grounds of measurement theory. A partial least squares (PLS) modelling using the SmartPLS 3.2.8 version was used as a statistical tool to examine the measurement and structural model. Findings Key findings provide empirical support on the effect of IFF and QoG on economic growth. It also confirmed that QoG significantly moderated the relationship between IFF and economic growth by reducing the negative impact of IFF on economic growth. Practical implications Immediate corrective action needs to be implemented by policymakers of ASEAN countries to strengthen QoG to effectively curb IIF activities. Originality/value This study provides current empirical evidence on the relationship of IFF, QoG and economic growth within ASEAN countries.

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Section: Resultssupporting

confidence: 93%

Section: Introductionmentioning

confidence: 99%

Effect of quality of governance on the relationship between illicit financial flows and economic growth

Padil

Kasim

Razali

et al. 2021

JFC

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show abstract

“…They use these techniques to reject the harm caused by them, inability to find victim or to claim that some other action might be more harmful. Besides all the facts, the actions of financial criminals cannot be denied on the ground that these actions pose serious harms to both developed and developing economies (Saddiq and Abu Bakar, 2019). Social learning theory has its important place in defining crimes.…”

Section: History Of Crimes: Theoretical Perspectivementioning

confidence: 99%

“…The rate of financial crimes is increasingly evident in developing countries (Saddiq and Abu Bakar, 2019). According to World Bank Group (2017), 6.4% to 12.6% of income of people is spent in bribe in developing countries.…”

Section: Introductionmentioning

confidence: 99%

Corporate financial crimes in Pakistan – a review and analysis

Yasir

Ahmed

Anum

2021

JFC

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Purpose The purpose of this paper is to highlight those factors which involve elite class criminals in corporate financial crimes. This research implies the fact that the study of criminal behavior is pivotal for finding out the reasons behind such crimes. Design/methodology/approach By describing theories of criminology, researchers assess the nature of financial criminals in Pakistan from a theoretical perspective. Findings Elite-class people commit crimes upon perceiving high benefits and less punishment. Moreover, the social environment contributes greatly to inducing criminal behavior. Research limitations/implications Explanation of criminal behaviors provided in the study will be helpful in providing directions for the prevention of such criminal actions in the future. Originality/value This research examines the criminal behavior of elite class crimes from the theoretical perspective which will be significant in the prevention of such behaviors.

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“…Financial crime is expensive and negatively affects emerging and developing countries (Saddiq & Abu Bakar, 2019). It is also a compound economic, social and political virus that impedes the performance of the private and public sectors which adversely impact on a nation's productivity and economic development (Kasum, 2009).…”

Section: Introductionmentioning

confidence: 99%

Financial Crime and Local Government Productivity in Rivers State

Briggs¹,

Wege²,

Nkanbia-Davies³

2020

Journal of Contemporary Research in Business, Economics and Fin

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The study investigated the effect of financial crime on local government productivity in Rivers State. The study specifically ascertained the effect of financial crime on effective service delivery and human resource administration in Rivers State local government councils. The predominant factors that induced financial crime in Rivers State local government councils were also identified. Descriptive survey design was employed with purposive sampling drawn from eight local government councils. A total of 220 questionnaires were distributed to the eight local government councils and of the 220, 208 representing 95% were returned and used. The data were analyzed using simple percentages for descriptive analysis and Chi-square (χ2) for hypotheses testing. The findings revealed that financial crime significantly and negatively influenced effective service delivery and human resource administration in Rivers State local government councils. It was further revealed that greed, opportunity and need induced financial crime in Rivers State local government councils. To stimulate employee commitment and effective service delivery in Rivers State local government councils, it was recommended that local government employees should be properly compensated and the institutional and juridical mechanisms (whether on exclusive, concurrent and residual lists) should be strengthened for accountability and deterrence of financial crime.

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Impact of economic and financial crimes on economic growth in emerging and developing countries

Cited by 19 publications

References 11 publications

Effect of quality of governance on the relationship between illicit financial flows and economic growth

Effect of quality of governance on the relationship between illicit financial flows and economic growth

Corporate financial crimes in Pakistan – a review and analysis

Financial Crime and Local Government Productivity in Rivers State

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