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Balance of Payments-consistent unreported flows

Listed author(s):
  • Beja Jr, Edsel
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    The paper develops a Balance of Payments (BOP)-consistent procedure for estimating unreported flows. Using data between 1990 and 2007, total unreported flows of selected Asian countries is estimated at $4.7 trillion, or more than 80% of the countries’ 2007 total gross domestic product. Results reveal that unreported flows increase with reported and accumulated unreported flows. Financial depth and governance of the real sector decrease unreported flows, whereas economic growth and weakness in the governance of reported flows increase unreported flows. Results also reveal that unbalanced financial and real sector development contributes to the unreported flows. Lastly, the paper argues that there is an opportunity to reverse the situation through a judicious application of capital flow and trade flow management techniques and development and improvement in capacity, including governance, to internalize resources and converting them into desired outcomes.

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    File URL: https://mpra.ub.uni-muenchen.de/23231/1/MPRA_paper_23231.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 21699.

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    Date of creation: 27 Mar 2010
    Handle: RePEc:pra:mprapa:21699
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    1. Hermes, Niels & Lensink, Robert, 2001. "Capital flight and the uncertainty of government policies," Economics Letters, Elsevier, vol. 71(3), pages 377-381, June.
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    3. Michael P. Dooley, 1988. "Capital Flight: A Response to Differences in Financial Risks," IMF Staff Papers, Palgrave Macmillan, vol. 35(3), pages 422-436, September.
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    8. Chang, P H Kevin & Claessens, Stijn & Cumby, Robert E, 1997. "Conceptual and Methodological Issues in the Measurement of Capital Flight," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 2(2), pages 101-119, April.
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    10. 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.
    11. Julio Lopez, 1998. "External Financial Fragility and Capital Flight in Mexico," International Review of Applied Economics, Taylor & Francis Journals, vol. 12(2), pages 257-270.
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    13. kant, C., 1996. "Foreign Direct Investment and Capital Flight," Princeton Studies in International Economics 80, International Economics Section, Departement of Economics Princeton University,.
    14. Collier, Paul & Hoeffler, Anke & Pattillo, Catherine, 1999. "Flight capital as a portfolio choice," Policy Research Working Paper Series 2066, The World Bank.
    15. Chander Kant, 2002. "What is Capital Flight?," The World Economy, Wiley Blackwell, vol. 25(3), pages 341-358, 03.
    16. Lensink, Robert & Hermes, Niels & Murinde, Victor, 1998. "The Effect of Financial Liberalization on Capital Flight in African Economies," World Development, Elsevier, vol. 26(7), pages 1349-1368, July.
    17. Eggerstedt, Harald & Hall, Rebecca Brideau & Van Wijnbergen, Sweder, 1995. "Measuring capital flight: A case study of Mexico," World Development, Elsevier, vol. 23(2), pages 211-232, February.
    18. Simon J. Pak & Stelios H. Zanakis & John S. Zdanowicz, 2003. "Detecting Abnormal Pricing in International Trade: The Greece-USA Case," Interfaces, INFORMS, vol. 33(2), pages 54-64, April.
    19. Francisco Rodriguez & Dani Rodrik, 2001. "Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-National Evidence," NBER Chapters,in: NBER Macroeconomics Annual 2000, Volume 15, pages 261-338 National Bureau of Economic Research, Inc.
    20. Edsel L. Beja, 2006. "Was Capital Fleeing Southeast Asia? Estimates from Indonesia, Malaysia, the Philippines, and Thailand," Asia Pacific Business Review, Taylor & Francis Journals, vol. 12(3), pages 261-283, July.
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