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arXiv · 1810.09876

Expropriations, Property Confiscations and New Offshore Entities: Evidence from the Panama Papers

Ralph-Christopher Bayer·Roland Hodler·Paul Raschky·Anthony Strittmatter
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Abstract

Using the Panama Papers, we show that the beginning of media reporting on expropriations and property confiscations in a country increases the probability that offshore entities are incorporated by agents from the same country in the same month. This result is robust to the use of country-year fixed effects and the exclusion of tax havens. Further analysis shows that the effect is driven by countries with non-corrupt and effective governments, which supports the notion that offshore entities are incorporated when reasonably well-intended and well-functioning governments become more serious about fighting organized crime by confiscating proceeds of crime.

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Ralph-Christopher Bayer, Roland Hodler, Paul Raschky, Anthony Strittmatter. 2018-10-23. Expropriations, Property Confiscations and New Offshore Entities: Evidence from the Panama Papers. https://doi.org/10.1016/j.jebo.2020.01.002

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