Estimates of Unrecorded Private Capital Movements
AbstractGiven the precarious balance of payments and debt situation, unrecorded flows of capital cause serious welfare losses. In order to formulate realistic policies, it is essential to have a knowledgeable account of such flows. Using different methodologies, the present paper estimates illicit movement of private capital in Pakistan. Interestingly, the estimates undermine the impression about capital flight from Pakistan, as it turned out as net recipient of unrecorded capital. In Pakistan, premium created by trade and exchange controls is very high compared with the risk in conducting illicit activities which defy the goals of policies. This paper suggests rationalization of trade and exchange policies and effective enforcement of controls to eliminate the menace of illicit activities.
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Bibliographic InfoArticle provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.
Volume (Year): 52 (1999)
Issue (Month): 1 ()
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Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
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- Zafar Mahmood & Mohammad Azhar, 2001. "On Overinvoicing of Exports in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 40(3), pages 173-185.
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