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On The Trail Of Capital Flight From Africa
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Author :Distinguished Professor of Economics and Director of the African Development Policy Program Léonce Ndikumana Publisher :Oxford University Press ISBN 13 :019885272X Total Pages :273 pages Book Rating :4.1/5 (988 download)
Book Synopsis On the Trail of Capital Flight from Africa by : Distinguished Professor of Economics and Director of the African Development Policy Program Léonce Ndikumana
Download or read book On the Trail of Capital Flight from Africa written by Distinguished Professor of Economics and Director of the African Development Policy Program Léonce Ndikumana and published by Oxford University Press. This book was released on 2022-01-20 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.
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
Book Synopsis Africa's Odious Debts by : Léonce Ndikumana
Download or read book Africa's Odious Debts written by Léonce Ndikumana and published by Bloomsbury Publishing. This book was released on 2011-10-13 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa's foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these 'odious debts' from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.
Book Synopsis Africa's Odious Debts by : Professor Léonce Ndikumana
Download or read book Africa's Odious Debts written by Professor Léonce Ndikumana and published by Zed Books Ltd.. This book was released on 2011-10-13 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa’s foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these ‘odious debts’ from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.
Book Synopsis Blue Clay People by : William D. Powers
Download or read book Blue Clay People written by William D. Powers and published by Bloomsbury Publishing USA. This book was released on 2008-12-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A haunting account of one man's determination and the struggles of a people living in a deeply troubled country."-Booklist When William Powers went to Liberia as a fresh-faced aid worker in 1999, he was given the mandate to "fight poverty and save the rainforest." It wasn't long before Powers saw how many obstacles lay in the way, discovering first-hand how Liberia has become a "black hole in the international system"-poor, environmentally looted, scarred by violence, and barely governed. Blue Clay People is an absorbing blend of humor, compassion, and rigorous moral questioning, arguing convincingly that the fate of endangered places such as Liberia must matter to all of us.
Book Synopsis Self-Devouring Growth by : Julie Livingston
Download or read book Self-Devouring Growth written by Julie Livingston and published by Duke University Press Books. This book was released on 2019-09-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under capitalism, economic growth is seen as the key to collective well-being. In Self-Devouring Growth Julie Livingston upends this notion, showing that while consumption-driven growth may seem to benefit a particular locale, it produces a number of unacknowledged, negative consequences that ripple throughout the wider world. Structuring the book as a parable in which the example of Botswana has lessons for the rest of the globe, Livingston shows how fundamental needs for water, food, and transportation become harnessed to what she calls self-devouring growth: an unchecked and unsustainable global pursuit of economic growth that threatens catastrophic environmental destruction. As Livingston notes, improved technology alone cannot stave off such destruction; what is required is a greater accounting of the web of relationships between humans, nonhuman beings, plants, and minerals that growth entails. Livingston contends that by failing to understand these relationships and the consequences of self-devouring growth, we may be unknowingly consuming our future.
Book Synopsis Against Global Apartheid by : Patrick Bond
Download or read book Against Global Apartheid written by Patrick Bond and published by Palgrave Macmillan. This book was released on 2003 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 'Against Global Apartheid', Patrick Bond reveals the extent of the economic and human damage caused by policies implemented by World Bank and the IMF in developing countries, particularly South Africa, and argues that there is another way to more socially just economic development.
Book Synopsis Capital Punishment, Second Edition by : Alan Marzilli
Download or read book Capital Punishment, Second Edition written by Alan Marzilli and published by Infobase Publishing. This book was released on 2009-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Travels in West Africa by : Mary H. Kingsley
Download or read book Travels in West Africa written by Mary H. Kingsley and published by . This book was released on 1897 with total page 842 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a dutiful Victorian daughter, the author was thirty before being freed (by her parents' deaths) to do as she chose. She went to West Africa in 1893 and again in 1895, to investigate the beliefs and customs of the inland tribes and also to collect zoological specimens. She was appalled by the 'thin veneer of rubbishy white culture' imposed by British officials and was not afraid to say so.
Book Synopsis Capital as Power by : Jonathan Nitzan
Download or read book Capital as Power written by Jonathan Nitzan and published by Routledge. This book was released on 2009-06-02 with total page 853 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.
Book Synopsis Capital Cities in Africa by : S. B. Bekker
Download or read book Capital Cities in Africa written by S. B. Bekker and published by HSRC Publishers. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Capital cities today remain central to both nations and states. They host centres of political power, not only national, but in some cases regional and global as well, thus offering major avenues to success, wealth and privilege. For these reasons capitals simultaneously become centres of "counter-power", locations of high-stakes struggles between the government and the opposition. This volume focuses on capital cities in nine sub-Saharan African countries, and traces how the power vested in them has evolved through different colonial backgrounds, radically different kinds of regimes after independence, waves of popular protest, explosive population growth and in most cases stunted economic development. Starting at the point of national political emancipation, each case study explores the complicated processes of nation-state building through its manifestation in the "urban geology" of the city - its architecture, iconography, layout and political use of urban space. Although the evolution of each of these cities is different, they share a critical demographic feature: an extraordinarily rapid process of urbanisation that is more politically than economically driven. Overwhelmed by the inevitable challenges resulting from this urban sprawl, the governments seated in most of these capital cities are in effect both powerful - wielding power over their populace -and powerless, lacking power to implement their plans and to provide for their inhabitants"--Publisher description.
Book Synopsis South Africa Pushed to the Limit by : Hein Marais
Download or read book South Africa Pushed to the Limit written by Hein Marais and published by Bloomsbury Publishing. This book was released on 2013-07-04 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1994, the democratic government in South Africa has worked hard at improving the lives of the black majority, yet close to half the population lives in poverty, jobs are scarce, and the country is more unequal than ever. For millions, the colour of people's skin still decides their destiny. In his wide-ranging, incisive and provocative analysis, Hein Marais shows that although the legacies of apartheid and colonialism weigh heavy, many of the strategic choices made since the early 1990s have compounded those handicaps. Marais explains why those choices were made, where they went awry, and why South Africa's vaunted formations of the left -- old and new -- have failed to prevent or alter them. From the real reasons behind President Jacob Zuma's rise and the purging of his predecessor, Thabo Mbeki, to a devastating critique of the country's continuing AIDS crisis, its economic path and its approach to the rights and entitlements of citizens, South Africa Pushed to the Limit presents a riveting benchmark analysis of the incomplete journey beyond apartheid.
Book Synopsis Leaving the Tarmac by : Aigboje Aig-Imoukhuede
Download or read book Leaving the Tarmac written by Aigboje Aig-Imoukhuede and published by . This book was released on 2015-08-27 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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].
Download or read book Swallow written by Henry Rider Haggard and published by . This book was released on 1911 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Africa After Independence by : Godfrey Mwakikagile
Download or read book Africa After Independence written by Godfrey Mwakikagile and published by New Africa Press. This book was released on 2006 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work focuses on the early years of independence and the problems African countries faced soon after the end of colonial rule. Many of those problems still exist today. They include poverty and underdevelopment; adoption of alien ideologies and economic and political systems; structural flaws of the modern African state and its institutions inherited at independence; nation-building, democratization, national integration, and ethnoregional rivalries among others. It is also a historical study of the continent since the partition of Africa by the imperial powers and of the struggle for independence. It also focuses on the continent's demographic composition, shedding some light on the complexity and diversity of the world's second largest continent. The history of Africa's indigenous peoples and their earliest contact with foreigners provides a background to this telescopic survey. The sixties was one of the most important decades in the history of Africa and this work provides a balanced perspective on those years when Africans celebrated the end of colonial rule on their continent. It is a compact study covering a vast expanse of territory from the advent of imperial rule to the attainment of sovereign status for African countries during the sixties and the problems they faced in those years. As a demographic portrait, it excels in depicting the continent as a tapestry that reflects the racial diversity and multiethnic composition of this vast land mass, the second largest after Asia. And as a historical and political analysis, it addresses some of the most important issues in the post-colonial era including the Cold War, with the Congo figuring prominently in the analysis as thefirst theatre of combat and super-power rivalry in the early sixties on the African continent. The dawn of freedom provided opportunities and challenges for the young African nations as they tried to modernize and consolidate their independence in a world dominated by major powers and contending ideologies. It was a rude awakening to the harsh realities of nationhood. One of these was the desire by the major powers to turn African countries into client states as the two ideological camps, East and West, competed for world domination. As Julius Nyerere warned, "We are not going to allow our friends to choose our enemies for us." One of the most contentious grounds for this hegemonic control was, of course, the Congo, right in the middle of the continent. It became the bleeding heart of Africa as the country was turned into a combat theatre mainly between the surrogate forces of the West and the Congolese nationalist forces supported by a number of African countries and by the Soviet Union and the People's Republic of China. The Congo imbroglio since the turbulent sixties mainly as a result of foreign intrigue and intervention is one of the most important subjects addressed in this book. And it raises serious questions that have profound implications even today for a continent mired in conflict; this time ignited by the Africans themselves in many - but not in all - cases. Yet, prospects for the world's poorest and most embattled continent are not bleak if Africans seek their own solutions to their own problems in this post-Cold War era of globalization dominated by the industrialized nations. The book includes many photos from the early sixties, the dawn of a new era when Africancountries won independence, which Oginga Odinga described as "Not Yet Uhuru."
Book Synopsis The Practice of Industrial Policy by : John Page
Download or read book The Practice of Industrial Policy written by John Page and published by Oxford University Press. This book was released on 2017 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of the information relevant to policy formulation for industrial development is held by the private sector, not by public officials. There is therefore fairly broad agreement in the development literature that some form of structured engagement, often referred to as close or strategic coordination, between the public and private sectors is needed, both to assist in the design of appropriate policies and to provide feedback on their implementation. There is less agreement on how that engagement should be structured, how its objectives should be defined, and how success should be measured. In fact, the academic literature on close coordination provides little practical guidance on how governments interested in developing a framework for government business engagement should go about doing it. The burden of this lack of guidance falls most heavily on Africa, where -- despite 20 years of growth -- lack of structural transformation has slowed job creation and the pace of poverty reduction. Increasingly, African governments are seeking to design and implement policies to encourage the more rapid growth of high productivity industries and in the process confronting the need to engage constructively with the private sector. These efforts have met with mixed results. For sustained success in structural transformation, new policies and new approaches to government-business coordination will be needed. In 2014 the Korea International Cooperation Agency and UNU-WIDER launched a joint research project on 'The Practice of Industrial Policy'. The objective of the project was to help African policy-makers develop better coordination between the public and private sectors in order to identify the constraints to faster structural transformation and to design, implement, and monitor policies to remove them. This book, written by national researchers and international experts, presents the results of that research.
