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Author : Oladeji O. Ojo
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (753 download)
Download or read book An Empirical Investigation of Capital Flight in Selected African Countries written by Oladeji O. Ojo and published by . This book was released on 1990 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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)
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.
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 : 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 : Friday Osemenshan Anetor
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (13 download)
Download or read book Macroeconomic Determinants of Capital Flight written by Friday Osemenshan Anetor and published by . This book was released on 2019 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the study was to examine the macroeconomic determinants of capital flight from the Sub-Saharan African (SSA) countries between the period 1981-2015. The study used secondary data obtained from the World Bank Development Indicators (WDI) and applied the autoregressive distributed lag (ARDL) model technique to determine the macroeconomic factors influencing capital flight from the SSA region. The results of the study showed that economic growth had a significant negative relationship with capital flight in both the long-run and short-run. Also, the outcome of the study revealed that external debt had a significant positive relationship with capital flight in the short-run. In addition, the study noted that economic variables such as interest rate spread, inflation, and trade openness have no significant influence on capital flight in the SSA region. Overall, the study revealed that economic growth rate and external debt constitute the macroeconomic fundamentals that influence the rate of capital flight from SSA countries.
Author : Leonce Ndikumana
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (13 download)
Download or read book Capital Flight written by Leonce Ndikumana and published by . This book was released on 2015 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the nature of capital flight, the methodologies used to measure it, and its drivers. The paper presents updated estimates of the magnitude of capital flight from 39 African countries for which adequate data are available for the period 1970-2010. It gives a global context of the problem of capital flight from Africa by providing comparative indicators on capital flight and related flows for other developing regions. The paper undertakes a detailed econometric analysis of the drivers of capital flight from African countries. It explores empirically the role of domestic and external factors in driving capital flight, including structural factors, the macroeconomic environment, governance, risk and returns to investment, capital account openness, and financial development. The first objective of the study is to contribute to the literature by providing the most comprehensive analysis of capital flight from Africa that takes into account economic as well as non-economic dimensions, and recognizes the importance of both the domestic and global contexts. The second objective is to contribute to the policy debate on capital flight both in Africa and globally.
Author : Uchenna Efobi
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (13 download)
Download or read book Terrorism and Capital Flight from Africa written by Uchenna Efobi and published by . This book was released on 2016 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We assess the effects of terrorism on capital flight in a panel of 29 African countries for which data is available for the period 1987-2008. The terrorism dynamics entail domestic, transnational, unclear and total terrorisms. The empirical evidence is based on Generalised Method of Moments (GMM) with forward orthogonal deviations and Quantile regressions (QR). The following findings are established. First, for GMM, domestic, transnational, unclear and total terrorisms consistently increase capital flight. Second, for QR, with the exception of transnational terrorism for which a positive effect on capital flight is apparent in the 0.90th quintile, terrorism dynamics affect capital flight in low quintiles of the capital flight distribution. In other words, terrorism increases capital flight for the most part when initial levels of capital flight are low. Policy implications are discussed.
Author : Niels Hermes
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (221 download)
Download or read book Capital Flight from Six Sub-Saharan African Countries written by Niels Hermes and published by . This book was released on 1990 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Uchenna Efobi
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (13 download)
Download or read book How Terrorism Explains Capital Flight from Africa written by Uchenna Efobi and published by . This book was released on 2015 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: We assess the effects of terrorism on capital flight in a panel of 29 African countries for which data is available for the period 1987-2008. The terrorism dynamics entail domestic, transnational, unclear and total terrorisms. The empirical evidence is based on Generalised Method of Moments (GMM) with forward orthogonal deviations and Quantile regressions (QR). The following findings are established. First, for GMM, domestic, unclear and total terrorisms consistently increase capital flight, with the magnitude relative higher from unclear terrorism. Second, for QR: (i) the effect of transnational terrorism is now positively significant in the top quantiles (0.75th and 0.90th) of the capital flight distribution, (ii) domestic and total terrorisms are also significant in the top quantiles and (iii) unclear terrorism is significant in the 0.10th and 0.75th quantiles. Policy implications are discussed.
Author :
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (62 download)
Download or read book Capital Flight from Six Sub-Saharan African Countries written by and published by . This book was released on 1990 with total page 28 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 : Simplice Asongu
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (13 download)
Download or read book Fighting African Capital Flight written by Simplice Asongu and published by . This book was released on 2015 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: With earthshaking and heartbreaking trends in African capital flight provided by a new database, this paper complements existing literature by answering some key policy questions on the feasibility of and timeframe for policy harmonization in the battle against the economic scourge. The goal of the paper is to study beta-convergence of capital flight across a set of 37 African countries in the period 1980-2010 and to discuss the policy implications. Three main findings are established. (1) African countries with low capital flight rates are catching-up their counterparts with higher rates, implying the feasibility of policy harmonization towards fighting capital flight. (2) Petroleum-exporting and conflict-affected countries significantly play out in absolute and conditional convergences respectively. (3) Regardless of fundamental characteristics, a genuine timeframe for harmonizing policies is within a horizon of 6 to 13 years. In other words, full (100%) convergence within the specified horizon is an indication that policies and regulations can be enforced without distinction of nationality or locality.
Author : Akanni O. Lawanson
Publisher :
ISBN 13 : 9789966023643
Total Pages : 40 pages
Book Rating : 4.0/5 (236 download)
Download or read book Impact of External Debt Accumulation and Capital Flight on Economic Growth of West African Countries written by Akanni O. Lawanson and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : William Alexander McCaslin
Publisher :
ISBN 13 :
Total Pages : 162 pages
Book Rating : 4.:/5 (891 download)
Download or read book Capital Flight written by William Alexander McCaslin and published by . This book was released on 2014 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this thesis is to provide an empirical analysis on capital flight for Portugal, Italy, Greece and Spain (P.I.G.S) during the current Euro Zone debt crisis. This paper contributes to the current literature on the Target2 imbalances and their connection to capital flight. The following are discussed: A comprehensive literature review focusing on capital flight episodes from all parts of the globe over the past twenty plus years. Capital flight estimates and the determinants for these capital flight flows are discussed and are incorporated into the empirical analysis. The three most popular capital flight estimation techniques including the World Bank Method, Hot Money (1-3) Method, and the Dooley Method are examined. The potential downfall of the Dooley Method along with conflicting results from the World Bank method and Hot Money Method are discussed. In addition, the Target2 balances of the central banks in the respective countries are examined. The results of panel data regression analysis show that the current capital flight flows and determinants of the troubled P.I.G.S countries are fairly similar to previous capital flight episodes covered in the academic literature. Moreover, the empirical results differ depending on the capital light estimation technique. Finally, capital flight estimates are shown to be correlated with Target2 liabilities and a contributing factor to these net Target2 imbalances.
Author : Ameth Saloum Ndiaye
Publisher :
ISBN 13 : 9789966023513
Total Pages : 48 pages
Book Rating : 4.0/5 (235 download)
Download or read book Capital Flight from the Franc Zone written by Ameth Saloum Ndiaye and published by . This book was released on 2014 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : R. Wesso
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)
Download or read book The Dynamics of Capital Flows in South Africa written by R. Wesso and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Francesco Ciampi
Publisher : Firenze University Press
ISBN 13 : 8864530592
Total Pages : 610 pages
Book Rating : 4.8/5 (645 download)
Download or read book Emerging Issues and Challenges in Business & Economics written by Francesco Ciampi and published by Firenze University Press. This book was released on 2009 with total page 610 pages. Available in PDF, EPUB and Kindle. Book excerpt:
