For the next 10 years, Raymond Baker did extensive business in Central and South America, other parts of Africa, Australia and New Zealand, Southeast Asia, and with the People’s Republic of China.

[6] In 1996, Raymond Baker received a grant from the John D. and Catherine T. MacArthur Foundation for a project entitled, “Flight Capital, Poverty and Free-Market Economics.” The project took him to 23 countries where he interviewed over 335 bankers, politicians, government officials, economists, attorneys, tax collectors, security officers, and social scientists on the relationships between commercial tax evasion, bribery, money laundering, and economic growth.

Baker has been quoted as saying, "This $1 trillion or more a year of illicit money that flows across borders and the structure that facilitates its movement is not only the biggest loophole in the global economic system.

Baker's "work explaining how $1 trillion in dirty money leaves poor countries each year has helped get financial transparency onto the agenda of world leaders."

[18][19] A former guest scholar at the Brookings Institution and former senior fellow at the Center for International Policy,[18] Baker is also the author of The Biggest Loophole in the Free-Market System, Illegal Flight Capital: Dangers for Global Stability, How Dirty Money Binds the Poor, and other works.