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Estimates of Capital Flight and Its Behaviour

Economic Analysis Review

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Title Estimates of Capital Flight and Its Behaviour
Estimates of Capital Flight and Its Behaviour
 
Creator Claessens, Stijn
 
Description This paper presents estimates of capital flight using eight alternative methodologies, with a focus on Latinoamerica. While these methodologies differ in approach, I show that the identities used in balance-of-payments data make most close in their final measurement. I document that capital flight is not an exclusively Latin America phenomenon, but is much wider spread than commonly thought. Compared to countries' exports, capital flight is evenly distributed, and the capital flights-exports Lorenz-curve is close to the 45-degree line. There also appear to be important common factors driving capital flight as there is considerable comovement across countries in certain years.
This paper presents estimates of capital flight using eight alternative methodologies, with a focus on Latinoamerica. While these methodologies differ in approach, I show that the identities used in balance-of-payments data make most close in their final measurement. I document that capital flight is not an exclusively Latin America phenomenon, but is much wider spread than commonly thought. Compared to countries' exports, capital flight is evenly distributed, and the capital flights-exports Lorenz-curve is close to the 45-degree line. There also appear to be important common factors driving capital flight as there is considerable comovement across countries in certain years.
 
Publisher Universidad Alberto Hurtado - Facultad de Economía y Negocios
 
Contributor —
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Date 2010-03-07
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.rae-ear.org/index.php/rae/article/view/134
 
Source Revista de Análisis Económico - Economic Analysis Review; Vol 12, No 1 (1997); 3-34
Revista de Análisis Económico – Economic Analysis Review; Vol 12, No 1 (1997); 3-34
0718-8870
0716-5927
 
Language eng
 
Relation http://www.rae-ear.org/index.php/rae/article/view/134/256