IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-05527841.html

External Debt, Corruption and Capital Flight in Emerging Economies: A Dynamic GMM Analysis

Author

Listed:
  • Molka Ben Ayed

    (USO - جامعة سوسة = Université de Sousse = University of Sousse)

  • Abderraouf Ben Ahmed Mtiraoui

    (MOFID-Université de Sousse)

  • Anis Bouabid

    (USO - جامعة سوسة = Université de Sousse = University of Sousse)

Abstract

This study investigates the relationship between external debt, corruption, and capital flight in emerging economies over the period 2004-2020. The selected timeframe ensures the availability of consistent data while encompassing both periods of macroeconomic stability and episodes of global financial stress. To address potential endogeneity, unobserved country-specific effects, and the dynamic nature of capital flight, the analysis employs the Arellano-Bond dynamic panel estimator (dynamic panel framework estimated using the Generalized Method of Moments (GMM)). This approach uses lagged levels of the endogenous variables as instruments, allowing for consistent estimation of the impact of external debt and corruption on capital flight. The methodology provides robust evidence on the dynamic interactions between governance quality, external borrowing, and capital outflows in emerging economies.

Suggested Citation

  • Molka Ben Ayed & Abderraouf Ben Ahmed Mtiraoui & Anis Bouabid, 2026. "External Debt, Corruption and Capital Flight in Emerging Economies: A Dynamic GMM Analysis," Post-Print hal-05527841, HAL.
    • Handle: RePEc:hal:journl:hal-05527841
    DOI: 10.55284/mfv1qy13
    Note: View the original document on HAL open archive server: https://hal.science/hal-05527841v1
    as

    Download full text from publisher

    File URL: https://hal.science/hal-05527841v1/document
    Download Restriction: no
    File URL: https://libkey.io/10.55284/mfv1qy13?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-05527841. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.