Author: Boyce James Ndikumana Léonce
Publisher: Routledge Ltd
ISSN: 0022-0388
Source: Journal of Development Studies, Vol.38, Iss.2, 2001-12, pp. : 27-56
Disclaimer: Any content in publications that violate the sovereignty, the constitution or regulations of the PRC is not accepted or approved by CNPIEC.
Abstract
This article presents estimates of capital flight from 25 low-income sub-Saharan African countries in the period 1970 to 1996. Capital flight totalled more than $193 billion (in 1996 dollars); with imputed interest earnings, the accumulated stock of flight capital amounts to $285 billion. The combined external debt of these countries stood at $178 billion in 1996. Taking capital flight as a measure of private external assets, and calculating net external assets as private external assets minus public external debts, sub-Saharan Africa thus appears to be a net creditor vis-à-vis the rest of the world.
Related content
Regional Structure in Sub-Saharan Africa
Journal of Asian and African Studies, Vol. 28, Iss. 1-2, 1993-01 ,pp. :
The International Relations of Sub-Saharan Africa
Politikon: South African Journal of Political Studies, Vol. 39, Iss. 3, 2012-12 ,pp. :
The Impact of the AIDS Epidemic on Teachers in Sub-Saharan Africa
By Bennell Paul
Journal of Development Studies, Vol. 41, Iss. 3, 2005-04 ,pp. :