On The Trail Of Capital Flight From Africa
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Author | : Léonce Ndikumana |
Publisher | : Oxford University Press |
Total Pages | : 273 |
Release | : 2021-12-23 |
Genre | : Business & Economics |
ISBN | : 0192594222 |
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 | : Distinguished Professor of Economics and Director of the African Development Policy Program Léonce Ndikumana |
Publisher | : Oxford University Press |
Total Pages | : 273 |
Release | : 2022-01-20 |
Genre | : Africa |
ISBN | : 019885272X |
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 |
Total Pages | : 455 |
Release | : 2015 |
Genre | : Business & Economics |
ISBN | : 0198718551 |
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 | : Léonce Ndikumana |
Publisher | : Bloomsbury Publishing |
Total Pages | : 152 |
Release | : 2011-10-13 |
Genre | : Social Science |
ISBN | : 1848134606 |
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 | : A. Ibi Ajayi and Léonce Ndikumana |
Publisher | : |
Total Pages | : |
Release | : 2015 |
Genre | : |
ISBN | : |
Author | : Alan Marzilli |
Publisher | : Infobase Publishing |
Total Pages | : |
Release | : 2009-01-01 |
Genre | : |
ISBN | : 1438105940 |
Author | : Janine Aron |
Publisher | : Oxford University Press |
Total Pages | : 377 |
Release | : 2009-03-19 |
Genre | : Business & Economics |
ISBN | : 0199551464 |
South Africa experienced a momentous change of government from the Apartheid regime to its first democratic government in 1994. This book provides an up-to-date and comprehensive assessment of South Africa's economic policies and performance under democracy. The book includes a stand-alone introduction and economic overview, as well as chapters on growth, monetary and exchange rate policy and fiscal policy, on capital flows and trade policy, on investment and industrial and competition policy, on the effect of AIDs in the macroeconomy, and on unemployment, education and inequality and poverty. Each chapter, and the overview chapter in particular, also addresses prospects for the future.
Author | : Antonio Andreoni |
Publisher | : Oxford University Press |
Total Pages | : 411 |
Release | : 2021 |
Genre | : Business & Economics |
ISBN | : 0192894315 |
Taking South Africa as an important case study of the challenges of structural transformation, the book offers a new micro-meso level framework and evidence linking country-specific and global dynamics of change, with a focus on the current challenges and opportunities faced by middle-income countries.
Author | : Arkebe Oqubay |
Publisher | : Oxford University Press, USA |
Total Pages | : 375 |
Release | : 2015 |
Genre | : Business & Economics |
ISBN | : 0198739893 |
This study presents the findings of original field research into the design, practice, and varied outcomes of industrial policy in three sectors in Ethiopia: cement, leather and leather products, and floriculture. Given that there is a single industrial strategy, why do its outcomes vary across sectors? To what extent is this a function of the specific market and political economy features of each sector? The book examines industrial structures and associated global value chains to demonstrate the challenges faced by African firms in international markets.
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 128 |
Release | : 2014-04-23 |
Genre | : |
ISBN | : 9264203508 |
This publication identifies the main areas of weakness and potential areas for action to combat money-laundering, tax evasion, foreign bribery, and to identify, freeze and return stolen assets.