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"This paper assesses the impact of capital flight on growth in thirty-one sub-Saharan African countries. It first considers the “macro fundamentals” hypothesis that capital flight would be lower in a country whose government adhered to “sound” macro…
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"This paper investigates the relationship between natural resources and capital flight in the form of tax avoidance from multinational corporations. In particular, it focuses on the spillover effects in terms of tax revenue mobilization and stock ma…
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"Insofar that it corrodes governance, engendering opportunistic crimes, grand corruption lies at the core of the problem of illicit financial flows. We identify at least two likely antagonistic circles in the illicit flow process—a virtuous circle a…
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"Expanding the tax base raises government revenue and is essential for sustainable poverty reduction in African countries. With volatile ODA, FDI, loans, and remittances, domestic resource mobilization via taxes remains a vital source of revenue for…
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"Value recovery of stolen assets is both an enforcement of anti-money laundering laws and a potent weapon against corruption. When obtainable, it represents society’s credible commitment to ensure that “crimes do not pay.” We explore these linkages …
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"The terms “safe haven” and “secrecy jurisdiction” are arguably more appropriate than “tax haven” or even “offshore financial center” in discussing capital flight. Florida, for example, is thought to be the main destination for capital flight from …
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"The paper has three main objectives. First it identifies the kind of institutional frameworks at the global, regional and country level which have evolved to address the issues of illicit financial flows. Second, it analyzes the factors that have …
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"This paper discusses strategies to stem capital flight from African countries. It emphasizes the importance of the distinction between licitly and illicitly acquired capital, and the need to tailor strategies to the specific type of capital flight…
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"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 th…
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"This paper takes a broad approach to the analyses and implications of capital flight for economic growth and development in Africa. It provides an overview of why capital flight constrains and undermines economic growth and development in Africa be…
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"This paper investigates the impact of capital flight on poverty reduction through the investment and growth channel. It uses two approaches. First, the Incremental Capital-Output Ratio (ICOR) approach is used to estimate additional income that woul…
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"This paper specifies three asset demand equations in a flow-of-funds framework to underpin the demand for capital flight, domestic money, and foreign debt. The estimation uses data on four groups of African countries over 1970–2010: (1) the entire …
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"According to conventional economic theory, high interest rates are expected to stem capital flight by raising the relative rate of return to investment in domestic assets. However, African countries have experienced high capital flight over the pas…
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"During the past decades, many countries experienced considerable capital flight. Residents moved their wealth abroad, using different ways to accumulate foreign assets. Since the 1990s, several of these countries reformed their domestic financial m…
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"Capital flight has become an increasing source of concern for policy makers in developing countries, including African economies, since it represents a severe constraint for growth and development. This paper analyzes how the domestic and global fi…
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"The rapid growth of the global economy in recent years has meant that international tax laws have not kept pace with changes in the global business environment, with the consequence that multinational corporations (MNCs) are not necessarily taxed…
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"This study provides measures of real capital flight from Nigeria based on the residual method adjusted for exchange rate fluctuations and trade misinvoicing. The portfolio choice approach is explored, in which the flow of capital is accumulated int…
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"This study concentrates on capital flight and external debt in Nigeria. The study will focus on the definition, magnitude, determinants, mechanisms and consequences of capital flight. The analysis will also explore the possible measureable assets…
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This paper investigates how indebtedness and capital flight have affected the growth of 14 West African countries directly, and via investment and fiscal balance mechanisms, using data from 1970 to 2008. This task was approached through a standar…
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In every country, gender disparities are observed in various aspects of daily life, the most visible ones being those related to labour market outcomes. This paper highlights the importance of the labour market related gender disparities in Cameroon…
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