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Capital Flight and Poverty Reduction in Africa

Janvier D. Nkurunziza

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter investigates the impact of capital flight on poverty reduction through the investment and growth channels. It uses two approaches. First, the Incremental Capital-Output Ratio (ICOR) ... More


Capital Flight and Economic Development in Africa

S. Ibi Ajayi

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0003
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter discusses how capital flight constrains and undermines economic growth and development in Africa because of the resource gap which it exacerbates. It emphasizes that capital flight ... More


Capital Flight from Africa: Causes, Effects, and Policy Issues

S. Ibi Ajayi and Léonce Ndikumana (eds)

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.001.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

The book provides a thematic analysis of capital flight from Africa, covering economic and institutional aspects, as well as domestic and global dimensions. It is organized in four parts. The first ... More


Capital Flight from Africa: Measurement and Drivers

Léonce Ndikumana, James K. Boyce, and Ameth Saloum Ndiaye

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0002
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter describes the methodologies used to measure capital flight and presents updated estimates of its magnitude for 39 African countries over the period 1970–2010. It gives a global context ... More


Capital Flight and Flow of Funds

Victor Murinde, Chris Shimba Ochieng, and Qingwei Meng

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

Inspired by a flow-of-funds framework, this chapter specifies three asset demand equations to underpin the demand for flight capital, domestic money (currency and bank deposits), and foreign debt. ... More


Financial Liberalization and Capital Flight*: Evidence from the African Continent

Niels Hermes and Robert Lensink

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0007
Subject:
Economics and Finance, Development, Growth, and Environmental

During the past decades, African countries experienced considerable capital flight. Since the 1990s, most countries reformed their domestic financial markets in an attempt to improve the functioning ... More


Capital Flight and Monetary Policy in Africa

Hippolyte Fofack

Léonce Ndikumana (ed.)

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0006
Subject:
Economics and Finance, Development, Growth, and Environmental

Drawing on panel data covering 39 African countries over 1970–2010, this study investigates the interactions between capital flight and monetary policy in Africa. The econometric analysis finds no ... More


Macroeconomic Impact of Capital Flight in Sub-Saharan Africa*

S. Ibi Ajayi and Léonce Ndikumana (eds)

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter assesses the impact of capital flight on growth in 31 sub-Saharan African countries. It first considers the “macro fundamentals” hypothesis that capital flight would be lower in a ... More


Introduction: Scale, Causes, and Effects of Capital Flight from Africa

S. Ibi Ajayi and Léonce Ndikumana (eds)

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

The introductory chapter presents the rationale for the book and an overview of the content of the other chapters.


Capital Flight and the Financial System*

Isabella Massa

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

Chapter 8 analyzes how domestic and global financial systems may facilitate capital flight from Africa. A high presence of foreign banks, underdeveloped financial markets, weak banking regulatory and ... More


Strategies for Addressing Capital Flight

James K. Boyce

Leonce Ndikumana (ed.)

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0016
Subject:
Economics and Finance, Development, Growth, and Environmental

Drawing on the literature and new evidence presented in the other chapters of the book, this chapter discusses strategies to stem capital flight from African countries. It emphasizes the importance ... More


Tax Evasion and Capital Flight in Africa*

Abbi M. Kedir

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0012
Subject:
Economics and Finance, Development, Growth, and Environmental

Expanding the tax base raises government revenue and is essential for sustainable poverty reduction in African countries. With volatile official development assistance, foreign direct investment, ... More


Capital Flight, Safe Havens, and Secrecy Jurisdictions

Frank Barry

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0013
Subject:
Economics and Finance, Development, Growth, and Environmental

The terms “safe haven” and “secrecy jurisdiction” are arguably more appropriate than “tax haven” or even “offshore financial center” in discussing capital flight. Most capital flight is thought to ... More


Capital Flight and Institutional Frameworks to Promote Transparency*

Humphrey P. B. Moshi

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0015
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter has three main objectives. First, it identifies institutional frameworks at the global, regional, and country levels which have evolved to address the issues of illicit financial flows. ... More


Natural Resources and Capital Flight: A Role for Policy?

Rabah Arezki, Gregoire Rota-Graziosi, and Lemma W. Senbet

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter investigates the relationship between natural resources and capital flight through tax avoidance by multinational corporations. It focuses on the spillover effects in terms of tax ... More


Governance and Illicit Financial Flows

Melvin D. Ayogu and Folarin G badebo-Smith

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0011
Subject:
Economics and Finance, Development, Growth, and Environmental

Insofar that it corrodes governance and engenders opportunistic crimes, grand corruption lies at the core of the problem of illicit financial flows from African countries. This chapter identifies two ... More


Illicit Financial Flows and Stolen Assets Value Recovery

Melvin D. Ayogu and Julius Agbor

in Capital Flight from Africa: Causes, Effects, and Policy Issues

Published in print:
2014
Published Online:
December 2014
ISBN:
9780198718550
eISBN:
9780191788000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198718550.003.0014
Subject:
Economics and Finance, Development, Growth, and Environmental

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 ... More


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