Weeks, John (2014) 'Macroeconomic Impact of Capital Flight in Sub-Saharan Africa.' In: Ajayi, Simeon Ibidayo and Ndikumana, Léonce, (eds.), Capital Flight from Africa. Oxford: Oxford University Press, pp. 238-260.
Abstract
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 country whose government adhered to “sound” macroeconomic policies. Analytical considerations fail to support this hypothesis. Second, it develops a growth-estimating equation derived from the Harrod–Domar framework. The growth-estimation results support the conclusion that capital flight had a major impact on growth over the last three decades, 1980–2010. The negative impact was greatest for the petroleum-exporting countries and those affected by internal conflict, but it was also substantial for the other countries, with a few exceptions.
| Item Type: | Book Chapters |
|---|---|
| Keywords: | capita flight, Africa, sub-Saharan Africa, macroeconomic impact, growth |
| SOAS Departments & Centres: | Departments and Subunits > Department of Economics |
| ISBN: | 9780198718550 |
| DOI (Digital Object Identifier): | https://doi.org/10.1093/acprof:oso/9780198718550.003.0009 |
| Date Deposited: | 11 Apr 2021 10:28 |
| URI: | https://eprints.soas.ac.uk/id/eprint/35038 |
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