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Robbing the Riches: Capital Flight, Institutions, and Instability Author info | Abstract | Publisher info | Download info | Related research | Statistics Meenakshi Rishi
Valerie Cerra
Sweta Chaman Saxena
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Capital flight may undermine economic growth and the effectiveness of debt relief and foreign aid. This paper is the first attempt to test whether unsound macroeconomic policies or weak institutions lead to capital flight, using panel data for a large set of developing, emerging market and transition countries. In addition, the paper tests the revolving door hypothesis that links debt accumulation and capital flight, and analyzes the contribution of institutions to several channels in this relationship.
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Paper provided by International Monetary Fund in its series IMF Working Papers with number
05/199.
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Length: 37 pages
Date of creation: 25 Oct 2005Date of revision:
Handle: RePEc:imf:imfwpa:05/199Contact details of provider: Postal: International Monetary Fund, Washington, DC USA Phone: (202) 623-7000 Fax: (202) 623-4661 Email: Web page: http://www.imf.org/external/pubind.htm More information through EDIRC
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Keywords: Capital outflows Debt Development assistance Other versions of this item:
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Raghbendra Jha & T. Palanivel, 2007.
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