Causality Between External Debt and Capital Flight in Sub-Saharan Africa (Record no. 23545)
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| fixed length control field | 03215cam a22006494a 4500 |
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| control field | 5042 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | The World Bank |
| 006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION | |
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| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION | |
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| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 020129s2009 dcu i001 0 eng |
| 024 8# - OTHER STANDARD IDENTIFIER | |
| Standard number or code | 10.1596/1813-9450-5042 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (The World Bank)5042 |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Fofack, Hippolyte |
| 245 10 - TITLE STATEMENT | |
| Title | Causality Between External Debt and Capital Flight in Sub-Saharan Africa |
| Medium | [electronic resource] / |
| Statement of responsibility, etc | Fofack, Hippolyte |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Washington, D.C., |
| Name of publisher, distributor, etc | The World Bank, |
| Date of publication, distribution, etc | 2009 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 1 online resource (31 p.) |
| 520 3# - SUMMARY, ETC. | |
| Summary, etc | Over the past few decades, the foreign liabilities of the majority of countries in Sub-Saharan Africa have grown dramatically, propelling most nations into the status of Highly Indebted Poor Countries, when these liabilities reached unsustainable levels in the 1990s. At the same time, increases in capital flight from the region followed a parallel trend, leading scholars to draw on "revolving door" models to explain the apparent positive covariation of external debt and capital flight in the region. This paper investigates the causality between external debt and capital flight in a cross-section of Sub-Saharan African countries using co-integration and error-correction models. Although dual causality, which is consistent with the revolving door hypothesis, cannot be rejected for the majority of countries, empirical evidence highlights the lead of external debt over capital flight. The significance of error-correction terms points to a long-run co-integrating relationship between external debt and capital flight in a large number of countries. |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Assets |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Bankruptcy and Resolution of Financial Distress |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Banks and Banking Reform |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Capital flight |
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| Topical term or geographic name as entry element | Central bank |
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| Topical term or geographic name as entry element | Competitiveness |
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| Topical term or geographic name as entry element | Correlation analysis |
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| Topical term or geographic name as entry element | Currencies and Exchange Rates |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Debt |
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| Topical term or geographic name as entry element | Debt Markets |
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| Topical term or geographic name as entry element | Deposit Insurance |
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| Topical term or geographic name as entry element | Devaluation |
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| Topical term or geographic name as entry element | Development assistance |
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| Topical term or geographic name as entry element | Disequilibrium |
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| Topical term or geographic name as entry element | Economic theory |
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| Topical term or geographic name as entry element | Economic Theory and Research |
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| Topical term or geographic name as entry element | Emerging Markets |
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| Topical term or geographic name as entry element | Exports |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | External Debt |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Finance and Financial Sector Development |
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| Topical term or geographic name as entry element | GDP |
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| Topical term or geographic name as entry element | Growth rate |
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| Topical term or geographic name as entry element | Income |
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| Topical term or geographic name as entry element | International Economics & Trade |
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| Topical term or geographic name as entry element | Law and Development |
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| Topical term or geographic name as entry element | Macroeconomic management |
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| Topical term or geographic name as entry element | Macroeconomics and Economic Growth |
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| Topical term or geographic name as entry element | Moral hazard |
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| Topical term or geographic name as entry element | Per capita income |
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| Topical term or geographic name as entry element | Private Sector Development |
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| Topical term or geographic name as entry element | Productivity growth |
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| Topical term or geographic name as entry element | Regression analysis |
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| Topical term or geographic name as entry element | Settlement of Investment Disputes |
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| Topical term or geographic name as entry element | Strategic Debt Management |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Fofack, Hippolyte |
| 776 18 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Main entry heading | Print version: |
| Display text | Fofack, Hippolyte. |
| Title | Causality Between External Debt and Capital Flight in Sub-Saharan Africa. |
| Place, publisher, and date of publication | Washington, D.C., The World Bank, 2009 |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | Policy research working papers. |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | World Bank e-Library. |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-5042">http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-5042</a> |
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