The Rise of Phantom Investments

• Author: Jannick Damgaard - Thomas Elkjaer - Niels Johannesen
• Position: JANNICK DAMGAARD is currently advisor to the executive director in the IMF's Office of the Nordic-Baltic Executive Director. Most of this research was carried out in his previous role as senior economist at the National Bank of Denmark. THOMAS ELKJAER is a senior economist in the IMF's Statistics Department,and NIELS JOHANNESEN is a professor...
• Pages: 11-13

Empty corporate shells in tax havens undermine tax collection in advanced,

emerging market, and developing economies

Jannick Damgaard, Thomas Elkjaer, and Niels Johannesen

THE RISE OF

PHANTOM

INVESTMENTS

September 2019 | FINANCE & DEVELOPMENT 11

PHOTO: IS TOCK / G OPIX A