Year: 2009

Illicit Financial Flows from Developing Countries now around $1 trillion a year

According to a new paper from the Global Financial Integrity watchdog. The paper defines illicit financial flows as ‘the proceeds from both illicit activities such as corruption (bribery and embezzlement of national wealth), criminal activity, and the proceeds of licit business that become illicit when transported across borders in contravention of applicable laws and regulatory frameworks (most…

By admin January 14, 2009 2

Financial crises at a glance: bank crashes, geopolitics and how long til the rebound?

Here are two illuminating graphics from the Financial Times and Economist. First up is a figure from Martin Wolf’s latest column in the FT, itself based on a new paper by Carmen Reinhart and Kenneth Rogoff, showing the proportion of the world economy affected by banking crises, from 1900-2008. Its main features are a spike around…

By admin January 12, 2009 3

Final thought on Complexity Economics

This week, I’ve been mulling over Eric Beinhocker’s book, ‘The Origin of Wealth: Evolution, Complexity and the Radical Remaking of Economics’ (see previous posts – an overview and a discussion of the implications for our models of change). One question that remains is ‘why aren’t there more books like this?’ The initial idea of  ‘Complexity Economics’…

By admin January 9, 2009 4