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The Effect Of Illicit Trade In Narcotics On Global Economy

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More about this item Keywords trade ; narcotics ; global ; illicit ; drugs ; development. JEL classification: F19 - International Economics - - Trade - - - Other Statistics Access and download statistics Corrections All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ora:journl:vyip See general information about how to correct material in RePEc. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about. We have no bibliographic references for this item. You can help adding them by using this form. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the 'citations' tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catalin ZMOLE email available below. Please note that corrections may take a couple of weeks to filter through the various RePEc services. Economic literature: papers , articles , software , chapters , books. My bibliography Save this article. Illicit markets especially those dealing with narcotics constitute grievous issues to the world's economies, putting to test global safety, economic progress as well as security and many other aspects. Seemingly, illicit narcotics trade in the last decade - that is to underwent a significant boom, resulting from a wide spectrum of illegal drugs such as cocaine as well as heroin among many other hard drugs. In today's global society, several concerns are emerging on the rise of illicit narcotics trade accompanied with organized crime, chiefly as major hindrances to consistent global economic progress. Apparently, some of the effects of illicit narcotics trade are that; this trade gradually turns upside down business rules, opening way for new unruly market players besides reconfiguring influence in global economics as well as politics. Hence, exaggerating local economies' incomes and triggering ceaseless conflicts among market players, while at the same time reducing legal business activities likewise disintegrating socioeconomic conditions. An empirical research method was adopted for this study, analyzing illicit trade in narcotics on the global arena as from to and its resultant effects. The research findings indicate that, illegal drugs trade particularly on the world economy besides growing at a high rate, it endangers the overall welfare of humans likewise the business environment. This is ostensibly because this trade has high chances of engrossing regional economies into illegal drugs business activities, causing them to neglect sustainable ethical businesses. Now, to effectively address negative economic issues related to illegal drugs trade, there is apparent need for integrated efforts from local as well as international authorities. Such efforts are chiefly to control not only the harmful effects resulting from the use of illicit narcotics, but also from the trade itself and to build sustainable economies. The findings of this study are crucial for regulatory authorities in the global economy, for them to adequately comprehend the effects of illicit trade in narcotics hence inform their decisions to take necessary measures. This paper is on the effect of illicit trade in narcotics on global economy, touching on issues like peace along with social cohesion as well as security and economic progress. Handle: RePEc:ora:journl:vyip as. Corrections All material on this site has been provided by the respective publishers and authors. Help us Corrections Found an error or omission? RePEc uses bibliographic data supplied by the respective publishers.

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