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Africa’s Debt: Who Owes Whom?

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  • Léonce Ndikumana
  • James Boyce

Abstract

Capital flight – the unrecorded export of capital from developing countries – often represents a significant cost for developing countries. It also poses a puzzle for standard economic theory, which would predict that poorer countries be importers of capital due to its scarcity. This situation is often reversed, however, with capital fleeing poorer countries for wealthier, capital-abundant locales. Using a common methodology for a set of case studies on the size, causes and consequences of capital flight in developing countries, the contributors address the extent of capital flight, its effects, and what can be done to reverse it.
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Suggested Citation

  • Léonce Ndikumana & James Boyce, 2002. "Africa’s Debt: Who Owes Whom?," Working Papers wp48, Political Economy Research Institute, University of Massachusetts at Amherst.
    • Handle: RePEc:uma:periwp:wp48
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    Cited by:

    1. James K. Boyce, 2004. "Aid, Conditionality, and War Economies," UMASS Amherst Economics Working Papers 2004-05, University of Massachusetts Amherst, Department of Economics.
    2. Léonce Ndikumana, 2006. "Corruption and Pro-Poor Growth Outcomes: Evidence and Lessons for African Countries," Working Papers wp120, Political Economy Research Institute, University of Massachusetts at Amherst.
    3. Jonathan Di John, 2006. "The Political Economy of Taxation and Tax Reform in Developing Countries," WIDER Working Paper Series RP2006-74, World Institute for Development Economic Research (UNU-WIDER).
    4. Scherrer, Christoph & Beck, Stefan, 2016. "Trade regulations and global production networks," GLU Working Papers 43, Global Labour University (GLU).
    5. James K. Boyce, 2007. "Public finance, aid and post-conflict recovery," UMASS Amherst Economics Working Papers 2007-09, University of Massachusetts Amherst, Department of Economics.
    6. James Boyce, 2003. "Aid, Conditionality, and War Economies," Working Papers wp70, Political Economy Research Institute, University of Massachusetts at Amherst.
    7. Beja, Jr., Edsel, 2009. "The Philippines on debt row," MPRA Paper 16553, University Library of Munich, Germany.

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