Jump to ContentJump to Main Navigation
Capital Flight from Africa – Causes, Effects, and Policy Issues - Oxford Scholarship Online
Users without a subscription are not able to see the full content.

Capital Flight from Africa: Causes, Effects, and Policy Issues

S. Ibi Ajayi and Léonce Ndikumana


The book provides a thematic analysis of capital flight from Africa, covering economic and institutional aspects, as well as domestic and global dimensions. It is organized in four parts. The first part discusses the importance of capital flight in the context of development policy discourse at national and international level. This part takes stock of the existing evidence on the nature, causes, and consequences of capital flight. It provides the most updated data on the magnitude of capital flight from 39 African countries, and a detailed analysis of the impact of capital flight on economic ... More

Keywords: capita flight, illicit financial flows, Africa, economic development, governance, safe havens, poverty reduction, odious debts, revolving door

Bibliographic Information

Print publication date: 2014 Print ISBN-13: 9780198718550
Published to Oxford Scholarship Online: December 2014 DOI:10.1093/acprof:oso/9780198718550.001.0001


Affiliations are at time of print publication.

S. Ibi Ajayi, editor
Department of Economics, University of Ibadan

Léonce Ndikumana, editor
University of Massachusetts at Amherst

Show Summary Details

subscribe or login to access all content.



1 Introduction

S. Ibi Ajayi and Léonce Ndikumana

Part I Why Care about Capital Flight?

2 Capital Flight from Africa

Léonce Ndikumana, James K. Boyce, and Ameth Saloum Ndiaye

Part II Economic Dimensions

5 Capital Flight and Flow of Funds

Victor Murinde, Chris Shimba Ochieng, and Qingwei Meng

6 Capital Flight and Monetary Policy in Africa

Hippolyte Fofack and Léonce Ndikumana

7 Financial Liberalization and Capital Flight*

Niels Hermes and Robert Lensink

Part III Institutional Dimensions

10 Natural Resources and Capital Flight

Rabah Arezki, Gregoire Rota-Graziosi, and Lemma W. Senbet

11 Governance and Illicit Financial Flows

Melvin D. Ayogu and Folarin Gbadebo-Smith

Part IV Conclusion

16 Strategies for Addressing Capital Flight

James K. Boyce and Léonce Ndikumana

End Matter