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Conceptual and Methodological Issues in the Measurement of Capital Flight

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  • Chang, P H Kevin
  • Claessens, Stijn
  • Cumby, Robert E

Abstract

This paper discusses alternative methodologies for measuring capital flight. While methodologies differ in approach, the identities used in balance-of-payments data make them close in the final measurement. The paper also presents capital flight estimates using the various methodologies. For a sample of 58 countries, the data clearly indicate that the various estimates for capital flight are most often quite close in measurement. The data also reveal that the occurrence of capital flight has not been confined to Latin America, but has been a phenomenon of global dimensions, with capital flight evenly distributed across countries relative to their GDP or exports. Copyright @ 1997 by John Wiley & Sons, Ltd. All rights reserved.

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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal International Journal of Finance & Economics.

Volume (Year): 2 (1997)
Issue (Month): 2 (April)
Pages: 101-19

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Handle: RePEc:ijf:ijfiec:v:2:y:1997:i:2:p:101-19

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Web page: http://www.interscience.wiley.com/jpages/1076-9307/

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Cited by:
  1. Davies, Victor A. B., 2007. "Capital flight and war," Policy Research Working Paper Series 4210, The World Bank.
  2. Brada, Josef C. & Kutan, Ali M. & Vukšić, Goran, 2013. "Capital Flight in the Presence of Domestic Borrowing: Evidence from Eastern European Economies," World Development, Elsevier, vol. 51(C), pages 32-46.
  3. Goran Vuksic, 2010. "Unrecorded capital flows and accumulation of foreign assets: the case of Croatia," Financial Theory and Practice, Institute of Public Finance, vol. 34(1), pages 1-23.
  4. Andrew Powell & Dilip Ratha & Sanket Mohapatra, 2002. "Capital Inflows and Capital Outflows: Measurement, Determinants, Consequences," Business School Working Papers veinticinco, Universidad Torcuato Di Tella.
  5. Josef Brada & Ali Kutan & Goran Vukšić, 2011. "The costs of moving money across borders and the volume of capital flight: the case of Russia and other CIS countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 147(4), pages 717-744, November.
  6. Beja Jr, Edsel, 2010. "Balance of Payments-consistent unreported flows," MPRA Paper 21699, University Library of Munich, Germany.
  7. Maria de Boyrie & Simon Pak & John Zdanowicz, 2005. "The impact of Switzerland's money laundering law on capital flows through abnormal pricing in international trade," Applied Financial Economics, Taylor & Francis Journals, vol. 15(4), pages 217-230.
  8. Beja, Edsel Jr., 2007. "Capital Flight and Economic Performance," MPRA Paper 4885, University Library of Munich, Germany, revised 12 Sep 2007.

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