세계 금융네트워크의 암흑면: 메이도프와 스탠포드의 국제금융사기 분석 = The Dark Side of Global Financial Network: An Analysis of International Financial Fraud of Madoff and Stanford

다국어 초록 (Multilingual Abstract)

Liberal scholars of international political economy tend to support the expansion of global financial networks on the ground that the networks can facilitate efficient allocation of capital. Further, they expect that the deepening of these networks enhance international and inter-regional interdependence which can ultimately contribute to reducing the possibility of conflict. This liberal perspective is based on the behavioral and functional concept of network. First, both networks and nods are assumed to be value free. Second, the structure of network is more important than nods. Third, relations among nodes are horizontal and reciprocal. However, there are networks where relations among nods are asymmetrical and uneven. Hierarchical networks can hinder nods from having equal access to information and opportunity. and the more complex this kind of networks are, the more difficult it makes to identify risk. So they might distort equal or fair distribution of risk. In fact, the hierarchy and complexity of global financial networks exposes participants to unknown counter-party risks that are intrinsic in financial transactions. In this respect, networks can be abused as a way of fraud, money laundering, and tax evasion. The cases of Madoff and Stanford’s Ponzi scheme show the dark side of global financial network.

국문 초록 (Abstract)

자유주의적 국제정치경제학자들은 자본의 효율적 분배를 촉진시킨다는 점에서 세계금융네트워크의 확대와 심화를 긍정적으로 평가해왔다. 더 나아가 이들은 네트워크의 발전이 궁극적으로 국가간․지역간 상호의존을 심화시켜 분쟁의 가능성을 줄이는데 기여할 것으로 기대하고 있다. 이러한 자유주의적 시각은 행태-기능주의적 네트워크 개념에 기반을 두고 있다. 첫째, 노드와 네트워크는 모두 가치중립적이라고 가정된다. 둘째, 네트워크를 형성된 구조는 네트워크를 구성하는 노드의 속성보다 중요하다. 셋째, 노드들 사이의 관계가 양방향으로 소통·교류가 가능한 수평적·대칭적 관계로 구성되어 있어, 네트워크의 구조는 호혜적이다. 그러나 이러한 자유주의적 가정에 부합하지 않는 비대칭적이며 불균등한 네트워크도 존재한다. 위계적인 네트워크는 노드들이 정보와 기회에 평등하게 접근하는 것을 방해할 수 있다. 이런 네트워크가 복잡해질수록 위험을 파악하는 것이 더 어려워진다. 결국 이 네트워크는 위험의 평등하며 공평한 분산을 왜곡시킬 수 있다. 실제로 세계금융네트워크의 위계성과 복합화는 직접적인 연계가 없는 제 3자를 미지의 거래상대방 위험(counter-party risk)에 노출시킨다. 이런 점에서 거래상대방을 직접적으로 알 수 없는 많은 노드들로 구성된 중층적 네트워크 구조는 사기, 돈세탁, 탈세 등의 범죄에 악용될 수 있다. 메이도프와 스탠포드의 폰지 사기는 이러한 세계금융네트워크의 암흑면을 보여주는 사례이다.

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