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One bad turn deserves another: how terrorism sustains the addiction to capital flight in Africa

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  • Simplice A. Asongu

    (Yaoundé/Cameroon)

  • Rexon T. Nting

    (London, UK)

  • Evans S. Osabuohien

    (Covenant University, Ota, Ogun State, Nigeria)

Abstract

This inquiry assesses if terrorism sustains the capital flight trap and whether the relationship is affected by varying the levels of governance and globalisation. The empirical evidence is based on interactive Generalised Method of Moments with data from 37 African countries for the period 1996-2010. The followings are established. (1) Evidence of a capital flight trap is apparent because past values of capital flight have a positive effect on future values of capital flight. (2) Terrorism sustains the positive effect of the capital flight trap on capital flight. (3) For the most part (especially with regard to political governance), terrorism sustains the addiction to capital flight in above-median governance sub-samples. Policy implications are discussed.

Suggested Citation

  • Simplice A. Asongu & Rexon T. Nting & Evans S. Osabuohien, 2019. "One bad turn deserves another: how terrorism sustains the addiction to capital flight in Africa," Research Africa Network Working Papers 19/015, Research Africa Network (RAN).
  • Handle: RePEc:abh:wpaper:19/015
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    1. Simplice A. Asongu & Joseph I. Uduji & Elda N. Okolo-Obasi, 2020. "Fighting African capital flight: trajectories, dynamics, and tendencies," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-21, December.
    2. Simplice A. Asongu & Nicholas M. Odhiambo, 2019. "Governance, capital flight and industrialisation in Africa," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 8(1), pages 1-22, December.
    3. Asongu, Simplice & Nnanna, Joseph, 2020. "Governance and the Capital Flight Trap in Africa," MPRA Paper 103226, University Library of Munich, Germany.
    4. Simplice A. Asongu & Joseph Nnanna & Rexon T. Nting, 2022. "A bad turn deserves another: linkages between terrorism, capital flight and industrialisation," International Journal of Public Administration, Taylor & Francis Journals, vol. 45(10), pages 760-772, July.
    5. Hajer Dachraoui & Maamar Sebri & Mahmoud M. A. Dwedar, 2021. "Natural Resources and Illicit Financial Flows from BRICS Countries," Biophysical Economics and Resource Quality, Springer, vol. 6(1), pages 1-13, March.
    6. Emmanuel Uche & Lionel Effiom, 2021. "Fighting capital flight in Nigeria: have we considered global uncertainties and exchange rate volatilities? Fresh insights via quantile ARDL model," SN Business & Economics, Springer, vol. 1(6), pages 1-22, June.
    7. Sebri, Maamar & Dachraoui, Hajer, 2020. "Resources bless BRICS," MPRA Paper 100423, University Library of Munich, Germany.
    8. Godwin Okafor & Obiajulu Ede, 2023. "Kidnapping rate and capital flight: Empirical evidence from developing countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 2590-2606, July.

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    More about this item

    Keywords

    Capital flight; terrorism; Africa;
    All these keywords.

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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