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Fighting African capital flight: timelines for the adoption of common policies

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  • Asongu Simplice

    () (Yaoundé/Cameroun)

Abstract

This paper provides an exhaustive assessment of feasible horizons for policy harmonization against African capital flight. The empirical evidence is based on a methodological innovation on common policy initiatives and the results are premised on 15 fundamental characteristics of African capital flight based on income-levels, legal origins, natural resources, political stability and religious domination. Based on the findings, a genuine standard-setting timeframe is in the horizon of 6-13 years. Within the timeframe, common policies are feasible and could be enforced without distinction of nationality or locality in identified fundamental characteristics with full convergence.

Suggested Citation

  • Asongu Simplice, 2013. "Fighting African capital flight: timelines for the adoption of common policies," Working Papers 13/008, African Governance and Development Institute..
  • Handle: RePEc:agd:wpaper:13/008
    as

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    File URL: http://www.afridev.org/RePEc/agd/agd-wpaper/Fighting-African-Capital-Flight.-Timelines-for-the-adoption-of-common-policies.pdf
    File Function: Revised version, 2013
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    References listed on IDEAS

    as
    1. Donald R. Davis, 1996. "Trade Liberalization and Income Distribution," NBER Working Papers 5693, National Bureau of Economic Research, Inc.
    2. Simplice A. Asongu, 2014. "African financial development dynamics: big time convergence," African Journal of Economic and Management Studies, Emerald Group Publishing, vol. 5(2), pages 160-194, July.
    3. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
    4. Ndikumana, Leonce & Boyce, James K., 2003. "Public Debts and Private Assets: Explaining Capital Flight from Sub-Saharan African Countries," World Development, Elsevier, vol. 31(1), pages 107-130, January.
    5. Simplice Asongu, 2013. "Harmonizing IPRs on Software Piracy: Empirics of Trajectories in Africa," Journal of Business Ethics, Springer, pages 45-60.
    6. Narayan, Paresh Kumar & Mishra, Sagarika & Narayan, Seema, 2011. "Do market capitalization and stocks traded converge? New global evidence," Journal of Banking & Finance, Elsevier, vol. 35(10), pages 2771-2781, October.
    7. Asongu Simplice, 2012. "Harmonizing IPRs on Software Piracy: Empirics of Trajectories in Africa," Working Papers 12/025, African Governance and Development Institute..
    8. Simplice A. Asongu, 2013. "African Stock Market Performance Dynamics: A Multidimensional Convergence Assessment," Journal of African Business, Taylor & Francis Journals, vol. 14(3), pages 186-201, December.
    9. Simplice Asongu, 2015. "Fighting Software Piracy in Africa: How Do Legal Origins and IPRs Protection Channels Matter?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 6(4), pages 682-703, December.
    10. Simplice Asongu, 2013. "Harmonizing IPRs on Software Piracy: Empirics of Trajectories in Africa," Journal of Business Ethics, Springer, pages 45-60.
    11. Nazrul Islam, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 110(4), pages 1127-1170.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. NGUENA Christian-Lambert, 2014. "External Debt Origin, Capital Flight and Poverty Reduction in the Franc Zone: Does the Economic Consequences of Sino-African Relationship matter?," Working Papers 14/016, African Governance and Development Institute..
    2. repec:spr:jknowl:v:8:y:2017:i:1:d:10.1007_s13132-015-0321-0 is not listed on IDEAS
    3. Simplice A. Asongu, 2014. "Fighting African Capital Flight: Empirics on Benchmarking Policy Harmonization," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 11(1), pages 93-122, June.
    4. repec:kap:jincot:v:17:y:2017:i:3:d:10.1007_s10842-016-0240-1 is not listed on IDEAS
    5. Asongu, Simplice & Nwachukwu, Jacinta C., 2016. "Welfare Spending and Quality of Growth in Developing Countries: A Note on Evidence from Hopefuls, Contenders and Best Performers," MPRA Paper 75047, University Library of Munich, Germany.
    6. Simplice Asongu & Jacinta C. Nwachukwu, 2016. "Transfer Mispricing as an Argument for Corporate Social Responsibility," Working Papers 16/031, African Governance and Development Institute..
    7. Simplice A. Asongu, 2017. "Knowledge Economy Gaps, Policy Syndromes, and Catch-Up Strategies: Fresh South Korean Lessons to Africa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(1), pages 211-253, March.
    8. Simplice A. Asongu, 2017. "The Comparative Economics of Knowledge Economy in Africa: Policy Benchmarks, Syndromes, and Implications," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(2), pages 596-637, June.
    9. Simplice Asongu & Oasis Kodila-Tedika, 2016. "Fighting African conflicts and crimes: which governance tools matter?," International Journal of Social Economics, Emerald Group Publishing, vol. 43(5), pages 466-485, May.
    10. Simplice A. Asongu & Jacinta C. Nwachukwu, 2017. "Fighting Capital Flight in Africa: Evidence from Bundling and Unbundling Governance," Journal of Industry, Competition and Trade, Springer, vol. 17(3), pages 305-323, September.

    More about this item

    Keywords

    Econometric modeling; Big push; Capital flight; Debt relief; Africa;

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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