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Author : Hippolyte Fofack
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (474 download)
Download or read book Potential Gains from Capital Flight Repatriation for Sub-Saharan African Countries written by Hippolyte Fofack and published by . This book was released on 2009 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hippolyte Fofack
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Potential Gains from Capital Flight Repatriation for Sub-Saharan African Countries written by Hippolyte Fofack and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the recent increase in capital flows to Sub-Saharan Africa, the region remains largely marginalized in financial globalization and chronically dependent on official development aid. And with the potential decline in the level of official development assistance in a context of global financial crisis, the need to increase domestic resources mobilization as well as non-debt generating external resources is critical now more than ever before. However, the debate on resource mobilization has overlooked an important untapped source of funds consisting of the massive stocks of private wealth stashed in Western financial centers, a substantial part of which left the region in the form of capital flight. This paper argues that the repatriation of flight capital should take a more prominent place in this debate from a moral standpoint and for clear economic reasons. On the moral side, the argument is that a large proportion of the capital flight legitimately belongs to the Africans and therefore must be restituted to the legitimate claimants. The economic argument is that repatriation of flight capital will propel the sub-continent on a higher sustainable growth path while preserving its financial stability and without mortgaging the welfare of its future generations through external borrowing. The analysis in the paper demonstrates quantitatively that the gains from repatriation are large and dominate the expected benefits from other sources such as debt relief. It is estimated that if only a quarter of the stock of capital flight was repatriated to Sub-Saharan Africa, the region would go from trailing to leading other developing regions in terms of domestic investment, thus initiating a big-push -led sustainable long-term economic growth. The paper proposes some strategies for inducing capital flight repatriation, but cautions that the success of this program is contingent on strong political will on the part of African and Western governments and effective coordination and cooperation at the global level.
Author : Hippolyte Fofack
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)
Download or read book Capital Flight Repatriation written by Hippolyte Fofack and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Simeon Ibidayo Ajayi
Publisher : Oxford University Press, USA
ISBN 13 : 0198718551
Total Pages : 455 pages
Book Rating : 4.1/5 (987 download)
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.
Author : Leonce Ndikumana
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (131 download)
Download or read book Capital Flight from Sub-Saharan Africa written by Leonce Ndikumana and published by . This book was released on 2013 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Even as African countries became increasingly indebted, they experienced largescale capital flight. Some of this was legitimately acquired capital fleeing economic and political uncertainties; some was illegitimately acquired wealth spirited to safer havens abroad. This paper presents new estimates of the magnitude and timing of capital flight from 33 sub-Saharan African countries from 1970 to 2004. We then analyze its determinants, including linkages to external borrowing. Our results confirm that sub-Saharan Africa is a net creditor to the rest of the world, in that the subcontinent's private external assets exceed its public external liabilities: total capital flight amounted to $443 billion (in 2004 dollars), compared to the external debt of $195 billion. Econometric analysis indicates that for every dollar in external loans to Africa in this period, roughly 60 cents flowed back out as capital flight in the same year, a finding that suggests the existence of widespread debt-fueled capital flight. The results also show a debt overhang effect, as increases in the debt stock spur additional capital flight in later years. In addition to policies for recovery of looted wealth and repatriation of externally held assets, we discuss the need for policies to differentiate between legitimate and odious debts, both to ease current burdens on African countries and to improve international financial governance in the future.
Author : Mr.Amadou N Sy
Publisher : International Monetary Fund
ISBN 13 : 1484385667
Total Pages : 61 pages
Book Rating : 4.4/5 (843 download)
Download or read book FinTech in Sub-Saharan African Countries written by Mr.Amadou N Sy and published by International Monetary Fund. This book was released on 2019-02-14 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Author : Walter Amedzro St-Hilaire
Publisher : CRC Press
ISBN 13 : 1000754170
Total Pages : 276 pages
Book Rating : 4.0/5 (7 download)
Download or read book Advanced Governing for Capital Flight written by Walter Amedzro St-Hilaire and published by CRC Press. This book was released on 2020-04-13 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume takes an in-depth look at the economic issue of capital flight and outlines strategic methods to address the problem of international tax evasion and bank secrecy. In order to address these issues, the book explores the development prospects of tax evasion governance and identifies obstacles to the efficiency of current tax policies. To overcome the capital flight issue, all lines of attack need to be examined. There is a need to establish responsibility, to set priorities for action that significantly reduces the incentives for capital outflows of this kind, and to seek international consensus. International tax evasion has undermined the credibility of political and administrative systems. This volume lays the foundation for creating an institutional framework that provides transparency of control systems in the face of the guilty roles of tax evasion actors. This requires an effort of economic intelligence that involves mobilizing statistical resources and exploiting them in order to finely identify deviating situations and risk. Key features of the book: • Captures the richness and diversity of tax evasion strategies • Provides an understanding of the prospects of capital flight policies • Identifies stakeholders’ implications in order to provide a global solution to government • Develops a rigorous approach to the problem of tax evasion and the capital flight process Advanced Governing for Capital Flight posits that when combined, the initiatives offered in the volume will be the powerful blow to bank secrecy. Aimed as much at the neophyte as at the insider who questions tax evasion strategies, this book, very ambitious by its specificity, is intended primarily for those who will be called upon to work in the fields of tax evasion and capital flight policies.
Author : Steve Kayizzi-Mugerwa
Publisher : Routledge
ISBN 13 : 1317203550
Total Pages : 261 pages
Book Rating : 4.3/5 (172 download)
Download or read book Inclusive Growth in Africa written by Steve Kayizzi-Mugerwa and published by Routledge. This book was released on 2016-10-04 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inclusive Growth in Africa analyzes the concept of inclusion within the challenges facing Africa’s rapidly growing economies, where rising affluence for some has been accompanied almost everywhere with rising inequality. Using a combination of political economy analyses, sector studies and econometric models, the contributors delve into a range of areas associated to the new realities on the continent. Topics covered include issues of disability, corruption, capital flight, and their implications for economic sustainability. There is also a discussion of the impact on development of dependence on externally determined prices for Africa’s natural resources. Other sector analyses look at agriculture and wind power, and the innovations required to make a difference for the poorer majority. The book comprises of a rich array of essays on socio-economic inclusion in Africa by authors drawn from academia, African think tanks and international organizations. It would be of interest to scholars and students of many disciplines, including: Economics, Sociology, Development Studies, and African Studies.
Author : Benu Schneider
Publisher :
ISBN 13 : 9780850036336
Total Pages : 92 pages
Book Rating : 4.0/5 (363 download)
Download or read book Measuring Capital Flight written by Benu Schneider and published by . This book was released on 2003 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tax Justice Network-Africa
Publisher : Fahamu/Pambazuka
ISBN 13 : 0857490427
Total Pages : 95 pages
Book Rating : 4.8/5 (574 download)
Download or read book Tax Us If You Can written by Tax Justice Network-Africa and published by Fahamu/Pambazuka. This book was released on 2011-10-20 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: This short introduction to issues of tax justice explains the meaning and causes of tax injustice and offers options for a better future. Providing insight into the specific failures of Africa s tax systemand the associated problems of capital flight, tax evasion, tax avoidance, and tax competitionthis book explores the role of governments, parliaments, and taxpayers, and asks how stakeholders can help achieve tax justice. Arguing that tax revenues are essential for establishing independent states of free citizens, it demonstrates how the tax consensus promoted by multilateral agencies, such as the World Bank and the International Monetary Fund, has influenced tax policy in Africa and led to a reduction in government revenues in many countries. "
Author : World Bank
Publisher :
ISBN 13 :
Total Pages : 324 pages
Book Rating : 4.F/5 ( download)
Download or read book Sub-Saharan Africa written by World Bank and published by . This book was released on 1989 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: 3. Investing in people.
Author : Saidu Ahmed Enagi
Publisher : ONG CNRJ
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4./5 ( download)
Download or read book WHY AFRICA IS STILL POOR written by Saidu Ahmed Enagi and published by ONG CNRJ . This book was released on 2015-10-28 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edition LE SPECULUM UNIVERSALIS “hors série” , By SAIDU AHMED ENAGI ( Nigeria Country Chair, NGO CNRJ), 2015. Direction Frederic von Lothringen
Author : Almas Heshmati
Publisher : Routledge
ISBN 13 : 1000007014
Total Pages : 303 pages
Book Rating : 4.0/5 ( download)
Download or read book Economic Transformation for Poverty Reduction in Africa written by Almas Heshmati and published by Routledge. This book was released on 2019-04-05 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an edited volume which contains empirical studies on determinants of poverty and its reduction in Africa. It looks at multidimensional measures of poverty, production and productivity-related factors, policies influencing poverty and random, hazardous but preventive factors influencing poverty levels and their reduction. The book argues that we need to account for different dimensions of poverty, when it is measured and classified, and for identifying the determinants of poverty and factors reducing poverty. The studies in the volume provide readers with a comprehensive picture of the state of poverty, its measurement, causal factors and efficient policies and practices in poverty reduction on the African continent as a whole and also in selected countries.
Author : Célestin Monga
Publisher :
ISBN 13 : 0199687102
Total Pages : 993 pages
Book Rating : 4.1/5 (996 download)
Download or read book The Oxford Handbook of Africa and Economics written by Célestin Monga and published by . This book was released on 2015 with total page 993 pages. Available in PDF, EPUB and Kindle. Book excerpt: A popular myth about the travails of Africa holds that the continent's long history of poor economic performance reflects the inability of its leaders and policymakers to fulfill the long list of preconditions to be met before sustained growth can be achieved. These conditions are said to vary from the necessary quantity and quality of physical and human capital to the appropriate institutions and business environments. While intellectually charming and often elegantly formulated, that conventional wisdom is actually contradicted by historical evidence and common sense. It also suggests a form of intellectual mimicry that posits a unique path to prosperity for all countries regardless of their level of development and economic structure. In fact, the argument underlining that reasoning is tautological, and the policy prescriptions derived from it are fatally teleological: low-income countries are by definition those where such ingredients are missing. None of today's high-income countries started its growth process with the "required" and complete list of growth ingredients. Unless one truly believes that the continent of Africa-and most developing countries-are ruled predominantly if not exclusively by plutocrats with a high propensity for sadomasochism, the conventional view must be re-examined, debated, and questioned. This volume-the second of the lOxford Handbook of Africa and Economics-reassesses the economic policies and practices observed across the continent since independence. It offers a collection of analyses by some of the leading economists and development thinkers of our time, and reflects a wide range of perspectives and viewpoints. Africa's emergence as a potential economic powerhouse in the years and decades ahead amply justifies the scope and ambition of the book.
Author : Hippolyte Fofack
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4./5 ( download)
Download or read book Technology Trap and Poverty Trap in Sub-saharan Africa written by Hippolyte Fofack and published by World Bank Publications. This book was released on 2012 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development.
Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484378814
Total Pages : pages
Book Rating : 4.4/5 (843 download)
Download or read book Regional Economic Outlook, October 2018, Sub-Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2018-10-11 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The macroeconomic outlook for sub-Saharan Africa continues to strengthen with higher growth, easing inflation, and stabilizing public debt ratios with some countries improving their fiscal balances. But there are concerns on the quality of the fiscal adjustment and underlying vulnerabilities have yet to be decisively addressed.
Author : Paul Collier
Publisher : World Bank Publications
ISBN 13 : 9780821350485
Total Pages : 200 pages
Book Rating : 4.3/5 (54 download)
Download or read book Globalization, Growth, and Poverty written by Paul Collier and published by World Bank Publications. This book was released on 2002 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization - the growing integration of economies and societies around the world, is a complex process. The focus of this research is the impact of economic integration on developing countries and especially the poor people living in these countries. Whether economic integration supports poverty reduction and how it can do so more effectively are key questions asked. The research yields 3 main findings with bearings on current policy debates about globalization. Firstly, poor countries with some 3 billion people have broken into the global market for manufactures and services, and this successful integration has generally supported poverty reduction. Secondly, inclusion both across countries and within them is important as a number of countries (pop. 2 billion) are failing as states, trading less and less, and becoming marginal to the world economy. Thirdly, standardization or homogenization is a concern - will economic integration lead to cultural or institutional homogenization?
