This paper assesses the relationship between institutions, output, and productivity, when official output is corrected for the size of the shadow economy. Our results confirm the usual positive impact of institutional quality on official output and total factor productivity, and its negative...

International policy standards in the fight against money laundering and terrorist financing are set forth by the Financial Action Task Force (FATF) recommendations on Anti-money laundering (AML)/Combating the financing of terrorism (CFT) policies. While those standards are very high and...

Yearly revenues from transnational criminal activity account for USD 1 to 1.6 trillion, and a wide variety of methods is employed to transfer those revenues across borders and launder it. The specific type of crime largely determines the choice of methods. Terrorists, for example, use both...

This paper has four goals: First, the use of cash as a possible driving factor of the shadow economy is investigated. Second, the use of cash in crime, here especially in corruption, is also econometrically investigated. The influence is somewhat larger than on the shadow economy, but it is...

This survey provides an in-depth analysis of existing research on the economic analysis of terrorism and counter-terrorist measures. First the existing evidence on the causes of terrorism is analyzed, then we consider the evidence of the consequences of terrorism and we demonstrate why it is...