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Kazue Demachi
''Capital flight from resource rich developing countries''
( 2014, Vol. 34 No.2 )
This paper analyzes the magnitude and determinants of capital flight from resource-rich developing countries (RRDCs) using macro-panel data from 21 countries from 1990 to 2011. Calculations reveal that capital flight from RRDCs was less serious than that experienced by some Latin American countries during the 1980s. In addition, capital flight was more episodic than chronic during the period studied. Econometric analysis indicates a linkage between natural resource revenues and capital flight during the period. However, the linkage between inflows of new debt and capital flight is far stronger, as previous capital flight literature suggests.
Keywords: capital flight, natural resource, resource curse
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
O5 - Economywide Country Studies: General
Manuscript Received : Dec 20 2013 Manuscript Accepted : Apr 03 2014

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