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Author: Léonce Ndikumana
Publisher: Oxford University Press
ISBN: 0192594222
Category : Business & Economics
Languages : en
Pages : 273
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Book Description
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: Léonce Ndikumana
Publisher: Oxford University Press
ISBN: 0192594222
Category : Business & Economics
Languages : en
Pages : 273
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Book Description
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: 0198718551
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
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: David A. Heenan
Publisher: Davies-Black Publishing
ISBN: 9780891062028
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
For centuries, the United States has been a magnet for human capital - ambitious, talented immigrants came to make their fortunes and stayed to pump wealth into the U.S. economy. Today America relies more than ever on immigrant brainpower: over half the PhDs working here are foreign born, as are nearly half the physicists, computer scientists, and mathematicians, and many of Silicon Valley's high-tech leaders. But, David Heenan warns, they may not be here long. In Flight Capital, Heenan describes how, within the past decade, America has gone from being the top importer of brainpower to a net exporter. Empowered by the globalization of technology, emerging economies from Iceland to India are using aggressive initiatives to attract top knowledge workers. In a reverse brain drain, hundreds of thousands of the best and brightest in America are returning to their native lands to pursue new opportunities. Heenan recounts the stories of dozens of emigrating professionals in an engaging way to explore the various factors - personal, cultural, economic, and political - that are fueling the exodus. human capital and its consequences for America, at a time when a shortage of talented labor is exacerbated by post-9/11 immigration restrictions. The outflow of brainpower, Heenan argues, threatens U.S. technological and economic preeminence, and even our security, unless quick action is taken. He proposes a dozen hard-hitting measures to correct the situation, both short and long term. Timely and compelling, Flight Capital focuses attention on whether America will continue as a world leader, and on the new forces at play in the global economic community.
Author: Mr.Mohsin S. Khan
Publisher: International Monetary Fund
ISBN: 9781557757913
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
Mounting external debt and large-scale capital flight have been at the forefront of Africa's economic problems since the 1980s. External Debt and Capital Flight in Sub-Saharan Africa, edited by S. Ibi Ajayi and Mohsin S. Khan, takes a penetrating look at debt and capital flight during the 1990s in Ghana, Kenya, Nigeria, Tanzania, and Uganda. The book describes the size and composition of debt in the selected countries and examines the causes of the debt buildup. It also assesses the extent of capital flight and suggests ways of stemming the flight of financial resources.
Author: Gerald A. Epstein
Publisher: Edward Elgar Publishing
ISBN: 9781781008058
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
Capital flight - the unrecorded export of capital from developing countries - often represents a significant cost for developing countries. It also poses a puzzle for standard economic theory, which would predict that poorer countries be importers of capital due to its scarcity. This situation is often reversed, however, with capital fleeing poorer countries for wealthier, capital-abundant locales. Using a common methodology for a set of case studies on the size, causes and consequences of capital flight in developing countries, the contributors address the extent of capital flight, its effects, and what can be done to reverse it. Case studies of Brazil, China, Chile, South Africa, Thailand, Turkey and the Middle East provide rich descriptions of the capital flight phenomena in a variety of contexts. The volume includes a detailed description of capital flight estimation methods, a chapter surveying the impact of financial liberalization, and several chapters on controls designed to solve the capital flight problem. The first book devoted to the careful calculation of capital flight and its historical and policy context, this volume will be of great interest to students and scholars in the areas of international finance and economic development.
Author: Jefferson Cowie
Publisher: Cornell University Press
ISBN: 1501723561
Category : Political Science
Languages : en
Pages : 286
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Book Description
Find a pool of cheap, pliable workers and give them jobs—and soon they cease to be as cheap or as pliable. What is an employer to do then? Why, find another poor community desperate for work. This route—one taken time and again by major American manufacturers—is vividly chronicled in this fascinating account of RCA's half century-long search for desirable sources of labor. Capital Moves introduces us to the people most affected by the migration of industry and, most importantly, recounts how they came to fight against the idea that they were simply "cheap labor." Jefferson Cowie tells the dramatic story of four communities, each irrevocably transformed by the opening of an industrial plant. From the manufacturer's first factory in Camden, New Jersey, where it employed large numbers of southern and eastern European immigrants, RCA moved to rural Indiana in 1940, hiring Americans of Scotch-Irish descent for its plant in Bloomington. Then, in the volatile 1960s, the company relocated to Memphis where African Americans made up the core of the labor pool. Finally, the company landed in northern Mexico in the 1970s—a region rapidly becoming one of the most industrialized on the continent.
Author: Léonce Ndikumana
Publisher: Bloomsbury Publishing
ISBN: 1848134606
Category : Social Science
Languages : en
Pages : 152
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Book Description
In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa's foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these 'odious debts' from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.
Author: Muhammad Shahbaz
Publisher: Springer Nature
ISBN: 3030790037
Category : Business & Economics
Languages : en
Pages : 245
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Book Description
This book looks into the relationship between financial development, economic growth, and the possibility of a potential capital flight in the transmission process. It also examines the important role that financial institutions, financial markets, and country-level institutional factors play in economic growth and their impact on capital flight in emerging economies. By presenting new theoretical insights and empirical country studies as well as econometric approaches, the authors focus on the relationship between financial development and economic growth with capital flight in the era of financial crisis. Therefore, this book is a must-read for researchers, scholars, and policy-makers, interested in a better understanding of economic growth and financial development of emerging economies alike.
Author: Benu Varman-Schneider
Publisher: Routledge
ISBN: 0429715005
Category : Political Science
Languages : en
Pages : 174
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Book Description
In this book, the author defines, measures, and explains the phenomenon of capital flight from developing countries. She attempts to incorporate the causes of capital flight in the measurement procedure.
Author: Donald R. Lessard
Publisher:
ISBN:
Category : Political Science
Languages : en
Pages : 86
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Book Description
