Capital Flight and Capital Controls in Developing Countries

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Publisher : Edward Elgar Publishing
ISBN 13 : 9781781008058
Total Pages : 368 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Capital Flight and Capital Controls in Developing Countries by : Gerald A. Epstein

Download or read book Capital Flight and Capital Controls in Developing Countries written by Gerald A. Epstein and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital flight - the unrecorded export of capital from developing countries - often represents a significant cost for developing countries. It also poses a puzzle for standard economic theory, which would predict that poorer countries be importers of capital due to its scarcity. This situation is often reversed, however, with capital fleeing poorer countries for wealthier, capital-abundant locales. Using a common methodology for a set of case studies on the size, causes and consequences of capital flight in developing countries, the contributors address the extent of capital flight, its effects, and what can be done to reverse it. Case studies of Brazil, China, Chile, South Africa, Thailand, Turkey and the Middle East provide rich descriptions of the capital flight phenomena in a variety of contexts. The volume includes a detailed description of capital flight estimation methods, a chapter surveying the impact of financial liberalization, and several chapters on controls designed to solve the capital flight problem. The first book devoted to the careful calculation of capital flight and its historical and policy context, this volume will be of great interest to students and scholars in the areas of international finance and economic development.

Capital Flight and Foreign Investment

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Publisher : London : Department of Economics, University of Western Ontario.
ISBN 13 : 9780771420795
Total Pages : 20 pages
Book Rating : 4.4/5 (27 download)

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Book Synopsis Capital Flight and Foreign Investment by : Terry Sicular

Download or read book Capital Flight and Foreign Investment written by Terry Sicular and published by London : Department of Economics, University of Western Ontario.. This book was released on 1998 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Capital Flight

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Publisher :
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Capital Flight by : Donald R. Lessard

Download or read book Capital Flight written by Donald R. Lessard and published by . This book was released on 1987 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measuring Capital Flight

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 57 pages
Book Rating : 4./5 ( download)

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Book Synopsis Measuring Capital Flight by : Harald Eggerstedt

Download or read book Measuring Capital Flight written by Harald Eggerstedt and published by World Bank Publications. This book was released on 1993 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Foreign Direct Investment and Capital Flight

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Publisher : International Finance Section Department of Econ Ton Univers
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Foreign Direct Investment and Capital Flight by : Chander Kant

Download or read book Foreign Direct Investment and Capital Flight written by Chander Kant and published by International Finance Section Department of Econ Ton Univers. This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Capital Flight From Developing Countries

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Publisher : Routledge
ISBN 13 : 0429715005
Total Pages : 174 pages
Book Rating : 4.4/5 (297 download)

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Book Synopsis Capital Flight From Developing Countries by : Benu Varman-Schneider

Download or read book Capital Flight From Developing Countries written by Benu Varman-Schneider and published by Routledge. This book was released on 2019-03-07 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, the author defines, measures, and explains the phenomenon of capital flight from developing countries. She attempts to incorporate the causes of capital flight in the measurement procedure.

International Investment, Political Risk, and Growth

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Publisher : Springer Science & Business Media
ISBN 13 : 1461545218
Total Pages : 204 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis International Investment, Political Risk, and Growth by : Philipp Harms

Download or read book International Investment, Political Risk, and Growth written by Philipp Harms and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following substantial policy reforms in many countries, the past decade has been characterized by a remarkable increase of long-term private capital flows to the developing world. However, the bulk of these investments has concentrated on a few economies at the intermediate level of the international income distribution, while the large number of low-income countries has been mostly neglected by international investors. Starting from these observations, International Investment, Political Risk, and Growth analyzes the potential growth effects of liberalizing investment regimes in developing economies and offers an explanation for the apparent bias of private capital flows towards middle-income countries. It demonstrates that the removal of investment barriers may liberate an economy from a vicious circle of poverty, unproductive saving, and low growth, and presents a novel approach to analyzing the role of political risk as a major impediment to greater private capital inflows. Offering a combination of theoretical models and empirical analysis, and discussing both the historical evidence and the recent literature, this book contributes to a better understanding of the determinants and consequences of international investment in developing countries.

Capital Flight from Africa

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Publisher : Oxford University Press, USA
ISBN 13 : 0198718551
Total Pages : 455 pages
Book Rating : 4.1/5 (987 download)

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Book Synopsis Capital Flight from Africa by : Simeon Ibidayo Ajayi

Download or read book Capital Flight from Africa written by Simeon Ibidayo Ajayi and published by Oxford University Press, USA. This book was released on 2015 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive thematic analysis of capital flight from Africa, it covers the role of safe havens, offshore financial centres, and banking secrecy in facilitating illicit financial flows and provides rich insights to policy makers interested in designing strategies to address the problems of capital flight and illicit financial flows.

Flight Capital as a Portfolio Choice

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Publisher : International Monetary Fund
ISBN 13 : 1451858485
Total Pages : 34 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Flight Capital as a Portfolio Choice by : Ms.Catherine A. Pattillo

Download or read book Flight Capital as a Portfolio Choice written by Ms.Catherine A. Pattillo and published by International Monetary Fund. This book was released on 1999-12-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets flight capital in the context of portfolio choice, focusing upon the proportion of private wealth that is held abroad. There are large regional differences in this proportion, ranging from 5 percent in South Asia to 40 percent in Africa. We explain cross-country differences in portfolio choice by variables that proxy differences in the risk-adjusted rate of return on capital. We apply the results to four policy questions: how the East Asian crisis affected domestic capital outflows; herd effects; the effect of the IMF-World Bank debt relief initiative for heavily-indebted poor countries (HIPC) on capital repatriation; and why so much of Africa’s private wealth is held outside the continent.

The Capital Flight "problem"

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Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis The Capital Flight "problem" by : David B. Gordon

Download or read book The Capital Flight "problem" written by David B. Gordon and published by . This book was released on 1988 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Opening the Capital Account

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4./5 ( download)

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Book Synopsis Opening the Capital Account by : James A. Hanson

Download or read book Opening the Capital Account written by James A. Hanson and published by World Bank Publications. This book was released on 1992 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Capital Flight from Russia

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Publisher : International Monetary Fund
ISBN 13 : 1451972113
Total Pages : 27 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Capital Flight from Russia by : Mr.Prakash Loungani

Download or read book Capital Flight from Russia written by Mr.Prakash Loungani and published by International Monetary Fund. This book was released on 2000-06-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the scale of capital flight from Russia, compares it with that observed in other countries, and reviews policy options. The evidence from other countries suggests that capital flight can be reversed once reforms take hold. The paper argues that capital flight from Russia can only be curbed through a medium-term reform strategy aimed at improving governance and macroeconomic performance, and strengthening the banking system. Capital controls result in costly distortions and should gradually be phased out as part of that medium-term strategy.

Capital Flight and Foreign Direct Investment in Africa

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Publisher :
ISBN 13 : 9781928281283
Total Pages : 24 pages
Book Rating : 4.2/5 (812 download)

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Book Synopsis Capital Flight and Foreign Direct Investment in Africa by : Léonce Ndikumana

Download or read book Capital Flight and Foreign Direct Investment in Africa written by Léonce Ndikumana and published by . This book was released on 2016 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper aims to provide theoretical and empirical insights into the puzzling simultaneous rise in foreign direct investment (FDI) inflows in Africa and capital flight from the continent over the past decades. It specifically explores two questions: Is FDI a potential driver of capital flight? And, is natural resource endowment a possible channel for the capital flight-FDI link? The econometric analysis is based on 32 African countries over the period 1970-2013 using dynamic panel data estimation methods. Three important findings emerge from the analysis. First, while there is no robust evidence that capital flight is fuelled by annual FDI inflows (there is no equivalent to debt-fuelled capital flight), there is a positive relationship between the stock of FDI and capital flight. Second, natural resource endowment is directly related positively to capital flight and resource endowment is associated with a stronger FDI stock-capital flight link, especially in the case of oil. Third, high-quality institutions somehow weaken the link between FDI and capital flight, although they do not completely eliminate the relationship. The results point to potential gains from improvements in institutional quality in African countries through minimizing the contribution of FDI and natural resources to capital flight."--page [1].

Capital Flight from the Countries in Transition

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Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Capital Flight from the Countries in Transition by : Nathan Sheets

Download or read book Capital Flight from the Countries in Transition written by Nathan Sheets and published by . This book was released on 1995 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

On the Trail of Capital Flight from Africa

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Publisher : Oxford University Press
ISBN 13 : 0192594222
Total Pages : 273 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis On the Trail of Capital Flight from Africa by : Léonce Ndikumana

Download or read book On the Trail of Capital Flight from Africa written by Léonce Ndikumana and published by Oxford University Press. This book was released on 2021-12-23 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the Trail of Capital Flight from Africa investigates the dynamics of capital flight from Angola, Côte d'Ivoire, and South Africa, countries that have witnessed large-scale illicit financial outflows in recent decades. Quantitative, qualitative, and institutional analysis for each country is used to examine the modus operandi of capital flight; that is, the 'who', 'how', and 'where' dimensions of the phenomenon. 'Who' refers to major domestic and foreign players; 'how' refers to mechanisms of capital acquisition, transfer, and concealment; and 'where' refers to the destinations of capital flight and the transactions involved. The evidence reveals a complex network of actors and enablers involved in orchestrating and facilitating capital flight and the accumulation of private wealth in offshore secrecy jurisdictions. This underscores the reality that capital flight is a global phenomenon, and that measures to curtail it are a shared responsibility for Africa and the global community. Addressing the problem of capital flight and related issues such as trade misinvoicing, money laundering, tax evasion, and theft of public assets by political and economic elites will require national and global efforts with a high level of coordination.

Capital Flight, Foreign Direct Investment and Natural Resources in Africa

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)

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Book Synopsis Capital Flight, Foreign Direct Investment and Natural Resources in Africa by : Léonce Ndikumana

Download or read book Capital Flight, Foreign Direct Investment and Natural Resources in Africa written by Léonce Ndikumana and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides theoretical and empirical insights into the puzzling simultaneous rise in foreign direct investment inflows in Africa and capital flight from the continent over the past decades. Indeed, paradoxically, even as African countries have become more attractive to foreign private capital, they have continued to experience capital exodus in the context of improved economic performance, especially since the turn of the century. This paper explores three questions. First, does foreign direct investment fuel capital flight as has been established in the case of external borrowing? In other words, is there an FDI-fueled capital flight phenomenon akin to debt-fueled capital flight? Second, is natural resource endowment a possible channel for the capital flight-FDI link, given that resource-rich countries tend to be both preferred destinations of FDI and prominent sources of capital flight? Third, does the quality of institutions mitigate the impact of natural resources on capital flight? The paper develops a theoretical model that conceptualizes these linkages and sets the stage for an econometric investigation of these questions. The results from econometric analysis based on a sample of 30 African countries over the period 1970-2015 show that FDI flows are positively related to capital flight, suggesting a possible FDI-fueled capital flight phenomenon. However, there is no evidence for an FDI overhang effect; past stock of FDI has no impact on capital flight. High natural resource rents are associated with high capital flight and the quality of institutions does not mitigate this link. The paper offers some policy insights derived from the empirical results.

The Flight of International Capital

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Author :
Publisher : Routledge
ISBN 13 : 1351346466
Total Pages : 369 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis The Flight of International Capital by : Brendan Brown

Download or read book The Flight of International Capital written by Brendan Brown and published by Routledge. This book was released on 2017-11-30 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1987, The Flight of International Capital provides a fascinating comprehensive analysis of the history of international money movements. Taking 1931 as the turning point between old-style and modern methods of conducting monetary affairs, the book relates currency shifts and investment trends to political events. He deals with five eras in the history of international capital; the unsettled post-crash period 1931-1936; the flight of capital to the US before World War II; the dollar and Swiss Franc’s time as the only ‘hard monies’ till the late fifties; the emergence of the mark-dollar axis before 1971; and finally, the behaviour of floating currencies.