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One Bad Turn Deserves Another: How Terrorism Sustains the Addiction to Capital Flight in Africa

Author

Listed:
  • Simplice A. Asongu

    (University of South Africa)

  • Rexon T. Nting

    (University of Wales)

  • Evans S. Osabuohien

    (Covenant University)

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 following 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," Journal of Industry, Competition and Trade, Springer, vol. 19(3), pages 501-535, September.
  • Handle: RePEc:kap:jincot:v:19:y:2019:i:3:d:10.1007_s10842-019-00303-6
    DOI: 10.1007/s10842-019-00303-6
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    2. 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.
    3. Sebri, Maamar & Dachraoui, Hajer, 2020. "Resources bless BRICS," MPRA Paper 100423, University Library of Munich, Germany.
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    5. 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.
    6. 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.
    7. 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.
    8. 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.

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    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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