1887

n AfricaGrowth Agenda - Political institutions and capital flight in Africa

Volume 2013, Issue 7
  • ISSN : 1811-5187

Abstract

Capital flight from a number of Sub-Saharan African countries has been increasing more rapidly over the last decade. According to Boyce and Ndikumana (2012), capital flight from the sub-region amounted to an average of 151.1 billion US Dollars between 2000 and 2004 and 202.4 billion US Dollars between 2005 and 2010, compared to an average of 107.5 billion US Dollars between 1990 and 1994. This phenomenon has resulted in the loss of domestic resources and scarce domestic savings that could be channeled into projects meant to reduce poverty (Cerra, Rishi et al., 2005). The high and rising incidence of capital flight from Sub-Saharan Africa has led to the accumulation of capital flight from the sub-region in excess of its total external debt stock, thereby rendering any effort at raising savings in the developing countries ineffective (Boyce and Ndikumana, 2012). This experience has raised concerns among a number of Sub-Saharan African countries about how to stem the rising incidence of capital flight from the region.

Loading full text...

Full text loading...

Loading

Article metrics loading...

/content/afgrow/07/1/EJC140232
2013-07-01
2020-09-22

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error