This paper provides an explanation of the simultaneous occurrence in developing countries of a large accumulation of external debt, private capital outflows and relatively low domestic capital formation. We consider a general equilibrium model in which two types of government with conflicting...

We investigate the determinants of capital flight from 30 sub-Saharan African countries, including 24 countries classified as severely indebted low-income countries, for the period 1970-1996. The econometric analysis reveals that external borrowing is positively and significantly related to...

This chapter aims to investigate the impact of natural resource abundance on capital flight in 10 African countries. For this purpose, the effects of natural resources rents, corruption index, total external debt stocks, and exchange rate on capital flight are examined for the period from 1990...