Capital Flight from Africa: Causes, Effects, and Policy IssuesSimeon Ibidayo Ajayi, Léonce Ndikumana This edited collection provides the most comprehensive thematic analysis of capital flight from Africa, covering economic and institutional aspects, as well as domestic and global dimensions. It is organized in three parts. The first part discusses the importance of capital flight in the context of the development policy discourse at national and international level. This part takes stock of the existing evidence on the nature, causes, and consequences of capital flight. It provides the most recent data on the magnitude of capital flight from 39 African countries, and a detailed analysis of the impact of capital flight on economic development in general and on poverty reduction in particular. The second part examines economic factors and impacts of capital flight. It presents analysis of capital flight in a flow of funds context, the impact of capital flight on macroeconomic outcomes with a focus on growth, and the linkages between capital flight and monetary policy, financial liberalization, and the global financial system. The third part explores the domestic and international institutional environment and its relevance for capital flight and stolen asset recovery. It discusses the role of governance, tax evasion, and secrecy jurisdictions in driving capital flight. The last part of the book offers suggestions for strategies to address the problem of capital flight from African countries. |
Other editions - View all
Capital Flight from Africa: Causes, Effects, and Policy Issues S. Ibi Ajayi,Léonce Ndikumana Limited preview - 2014 |
Capital Flight from Africa: Causes, Effects, and Policy Issues S. Ibi Ajayi,Léonce Ndikumana No preview available - 2017 |
Common terms and phrases
abroad AfDB asset recovery banking secrecy billion Botswana Burkina Faso Cameroon capital account capital controls capital flight capital flows central bank chapter corporations corruption Cote d’Ivoire country’s crime developing countries domestic investment economic growth effect of capital estimates exchange rate exports external debt financial liberalization financial system flight capital flight from Africa flight on poverty foreign funds GDP growth Ghana Global Financial governments illegal illicit financial flows impact important income increase inflation inflows institutions Kenya macroeconomic measures mobile monetary policy money laundering multinational NC NC NC Ndikumana and Boyce Nigeria Odious Debts OECD offshore outflows percent political portfolio potential poverty reduction R-squared rate of poverty regions reported SABMiller secrecy jurisdictions sector significant South Africa statistically stolen assets Sub-Saharan African Countries Table Tanzania tax evasion tax havens transactions transparency variables World Bank Zambia