Capital Flight and Tax Havens

Capital flight is a major problem in Sub-Saharan Africa as it impacts negatively on capital scarce economies. Trillions of dollars have flown out of Africa over the last four decades.  Capital flight has accelerated since 2000, a period that coincides with the commodity-driven growth resurgence in Africa.

Evidence suggests that capital flight has significantly undermined Africa’s growth and development – through the siphoning of potential investment capital out of the continent. Capital flight is a global problem requiring a global solution. However, Africa, as a major source of capital flight, needs to speak with a unified voice on this issue, and to spearhead the fight against capital flight, including the tracing and recovery of these ‘stolen’ assets. This requires that African policy makers and the broader populace fully appreciate the magnitude of the capital flight problem and its various manifestations, as well as its impacts on Africa’s development.

Working papers for Capital Flight from Africa: - 

  1. The Nature, Motives, Drivers, and Measurement of Capital Flight,Léonce Ndikumana, James Boyce, and Ameth Saloum Ndiaye
  2. Capital flight and Economic Development,Ibi Ajayi
  3. Capital Flight and Governance, Melvin Ayogu and Florian Gbadebo-Smith
  4. Capital Flight and Natural Resources, Rabah Arezki and Arnaud Dupuy
  5. Capital Flight and Flow of Funds, Victor Murinde and Chris Shimba Ochieng
  6. Capital Flight and Macroeconomic Policy, Hippolyte Fofack and Léonce Ndikumana,
  7. Financial Liberalization and Capital Flight,Robert Lensink and Niels Herms
  8. Capital Flight and Tax Evasion, Abbi Kedir
  9. Tax Havens and Secrecy, Frank Barry
  10. Capital Flight and the Financial System,Isabella Massa
  11. Macroeconomic Impact of Capital Flight from Africa, John Weeks
  12. Capital Flight and Poverty Reduction in Africa, Janvier Nkurunziza
  13. Capital Flight and Asset Recovery, Melvin Ayogu and Julius Agbor
  14. Capital Flight and Institutional Frameworks to Promote Transparency,Humphrey P.B. Moshi
  15. The Way Forward: Strategies and Policy Framework for addressing Capital flight, James Boyce and Léonce Ndikumana

Click here to view downloadable working papers.