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Africa's Debt: Who Owes Whom?

In: Capital Flight and Capital Controls in Developing Countries

Author

Listed:
  • James K. Boyce
  • Léonce Ndikumana

Abstract

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.

Suggested Citation

  • James K. Boyce & Léonce Ndikumana, 2005. "Africa's Debt: Who Owes Whom?," Chapters, in: Gerald A. Epstein (ed.), Capital Flight and Capital Controls in Developing Countries, chapter 13, pages 334-340, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3513_13
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    Cited by:

    1. James K. Boyce, 2007. "Public finance, aid and post-conflict recovery," UMASS Amherst Economics Working Papers 2007-09, University of Massachusetts Amherst, Department of Economics.

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