Die Europäische Währungsunion steckt in einer tiefen Zahlungsbilanzkrise. Privates Kapital fließt imgroßen Stil von den Peripherieländern in die Kernländer. Um den Fortbestand des Euro zugewährleisten treten öffentliche, intergouvernementale Kredite und Target-Kredite der...

The European Monetary Union is experiencing a serious balance-of-payments crisis. Private capital is flowing from the periphery countries into the core countries on a large scale. Public, inter-government credit and Target credit granted by national central banks is replacing private capital to...

Hans-Werner Sinn plädiert für eine Begrenzung der Notfallkredite, die die EZB Griechenland gewährt, und für die Einführung eine Kapitalverkehrskontrolle durch die griechische Regierung.

In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends. We find that Japanese government securities were held primarily by domestic holders until...

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...

We analyze whether or not the globalization of capital, `disciplines' governments and improves gov- ernance. We demonstrate that globalization a ects governance, by increasing a country's vulnerability to sudden capital ight. This increased threat of capital ight can discipline governments and...

Is China-Africa economic relation instrumental for capital flight and poverty reduction in FZ? Does it matter in the improvement of external debt’s impact on GDP per capita and capital flight reduction in particular? This paper extends and assesses the Asongu and Aminkeng (2013) conclusions...

Focusing on capital flight of the worst kind for developing countries-stolen public assets-we develop a model which shows that both the threat of losing elective office and its complement, the threat of delayed detection, do not affect the choice of whether to plunder or not. Rather they...

An undistorted free market economy endowed with perfectly rational and informed agents overborrows, i.e., borrows beyond the efficient level, because of the agents' failure to internalize credit rationing resulting from sovereign risk. It follows that the elimination of the market overborrowing...