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Author: Victor A. B. Davies
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 38
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Book Description
This paper provides empirical evidence on the effects of inflation on post-war capital flight flows. I test the hypothesis that inflation has a positive additional impact on capital flight flows after war. I use a new panel dataset of 77 developing countries, of which 35 experienced at least one episode of war between 1971 and 2000. I use a range of estimation methods and four capital flight measures -- Cline, World Bank Residual, Morgan Guarantee, and Dooley. The results consistently support the research hypothesis: Post-war inflation increase annual capital flight flows by about 0.005 to 0.01 percentage points of GDP. This effect is substantial in total at high inflation rates. The implication is that low inflation helps to curb capital flight in post-conflict economies.
Author: Victor A. B. Davies
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 38
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Book Description
This paper provides empirical evidence on the effects of inflation on post-war capital flight flows. I test the hypothesis that inflation has a positive additional impact on capital flight flows after war. I use a new panel dataset of 77 developing countries, of which 35 experienced at least one episode of war between 1971 and 2000. I use a range of estimation methods and four capital flight measures -- Cline, World Bank Residual, Morgan Guarantee, and Dooley. The results consistently support the research hypothesis: Post-war inflation increase annual capital flight flows by about 0.005 to 0.01 percentage points of GDP. This effect is substantial in total at high inflation rates. The implication is that low inflation helps to curb capital flight in post-conflict economies.
Author: Victor A. B. Davies
Publisher: World Bank Publications
ISBN:
Category : Capital movement
Languages : en
Pages : 44
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Book Description
This paper provides empirical evidence on the effects of inflation on post-war capital flight flows. I test the hypothesis that inflation has a positive additional impact on capital flight flows after war. I use a new panel dataset of 77 developing countries, of which 35 experienced at least one episode of war between 1971 and 2000. I use a range of estimation methods and four capital flight measures -- Cline, World Bank Residual, Morgan Guarantee, and Dooley. The results consistently support the research hypothesis: Post-war inflation increase annual capital flight flows by about 0.005 to 0.01 percentage points of GDP. This effect is substantial in total at high inflation rates. The implication is that low inflation helps to curb capital flight in post-conflict economies.
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: 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: 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: Brendan Brown
Publisher: Routledge
ISBN: 1351346466
Category : Business & Economics
Languages : en
Pages : 474
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Book Description
Originally published in 1987, The Flight of International Capital provides a fascinating comprehensive analysis of the history of international money movements. Taking 1931 as the turning point between old-style and modern methods of conducting monetary affairs, the book relates currency shifts and investment trends to political events. He deals with five eras in the history of international capital; the unsettled post-crash period 1931-1936; the flight of capital to the US before World War II; the dollar and Swiss Franc’s time as the only ‘hard monies’ till the late fifties; the emergence of the mark-dollar axis before 1971; and finally, the behaviour of floating currencies.
Author: Benn Steil
Publisher: Princeton University Press
ISBN: 0691149097
Category : Business & Economics
Languages : en
Pages : 480
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Book Description
Recounts the events of the Bretton Woods accords, presents portaits of the two men at the center of the drama, and reveals Harry White's admiration for Soviet economic planning and communications with intelligence officers.
Author: John Williamson
Publisher:
ISBN:
Category : Social Science
Languages : en
Pages : 284
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Book Description
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: Marshall I. Goldman
Publisher: Routledge
ISBN: 1134376847
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
In 1991, a small group of Russians emerged from the collapse of the Soviet Union and enjoyed one of the greatest transfers of wealth ever seen, claiming ownership of some of the most valuable petroleum, natural gas and metal deposits in the world. By 1997, five of those individuals were on Forbes Magazine's list of the world's richest billionaires.
