On the Trail of Capital Flight from Africa

On the Trail of Capital Flight from Africa

Author: Distinguished Professor of Economics and Director of the African Development Policy Program Léonce Ndikumana

Publisher: Oxford University Press

Published: 2022-01-20

Total Pages: 273

ISBN-13: 019885272X

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On the Trail of Capital Flight from Africa investigates the dynamics of capital flight from Angola, Côte d'Ivoire, and South Africa, countries that have witnessed large-scale illicit financial outflows in recent decades. Quantitative, qualitative, and institutional analysis for each country is used to examine the modus operandi of capital flight; that is, the 'who', 'how', and 'where' dimensions of the phenomenon. 'Who' refers to major domestic and foreign players; 'how' refers to mechanisms of capital acquisition, transfer, and concealment; and 'where' refers to the destinations of capital flight and the transactions involved. The evidence reveals a complex network of actors and enablers involved in orchestrating and facilitating capital flight and the accumulation of private wealth in offshore secrecy jurisdictions. This underscores the reality that capital flight is a global phenomenon, and that measures to curtail it are a shared responsibility for Africa and the global community. Addressing the problem of capital flight and related issues such as trade misinvoicing, money laundering, tax evasion, and theft of public assets by political and economic elites will require national and global efforts with a high level of coordination.


Book Synopsis On the Trail of Capital Flight from Africa by : Distinguished Professor of Economics and Director of the African Development Policy Program Léonce Ndikumana

Download or read book On the Trail of Capital Flight from Africa written by Distinguished Professor of Economics and Director of the African Development Policy Program Léonce Ndikumana and published by Oxford University Press. This book was released on 2022-01-20 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the Trail of Capital Flight from Africa investigates the dynamics of capital flight from Angola, Côte d'Ivoire, and South Africa, countries that have witnessed large-scale illicit financial outflows in recent decades. Quantitative, qualitative, and institutional analysis for each country is used to examine the modus operandi of capital flight; that is, the 'who', 'how', and 'where' dimensions of the phenomenon. 'Who' refers to major domestic and foreign players; 'how' refers to mechanisms of capital acquisition, transfer, and concealment; and 'where' refers to the destinations of capital flight and the transactions involved. The evidence reveals a complex network of actors and enablers involved in orchestrating and facilitating capital flight and the accumulation of private wealth in offshore secrecy jurisdictions. This underscores the reality that capital flight is a global phenomenon, and that measures to curtail it are a shared responsibility for Africa and the global community. Addressing the problem of capital flight and related issues such as trade misinvoicing, money laundering, tax evasion, and theft of public assets by political and economic elites will require national and global efforts with a high level of coordination.

Capital Flight from Africa

Capital Flight from Africa

Author: Simeon Ibidayo Ajayi

Publisher: Oxford University Press, USA

Published: 2015

Total Pages: 455

ISBN-13: 0198718551

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A comprehensive thematic analysis of capital flight from Africa, it covers the role of safe havens, offshore financial centres, and banking secrecy in facilitating illicit financial flows and provides rich insights to policy makers interested in designing strategies to address the problems of capital flight and illicit financial flows.


Book Synopsis Capital Flight from Africa by : Simeon Ibidayo Ajayi

Download or read book Capital Flight from Africa written by Simeon Ibidayo Ajayi and published by Oxford University Press, USA. This book was released on 2015 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive thematic analysis of capital flight from Africa, it covers the role of safe havens, offshore financial centres, and banking secrecy in facilitating illicit financial flows and provides rich insights to policy makers interested in designing strategies to address the problems of capital flight and illicit financial flows.

Africa's Odious Debts

Africa's Odious Debts

Author: Léonce Ndikumana

Publisher: Bloomsbury Publishing

Published: 2011-10-13

Total Pages: 152

ISBN-13: 1848134606

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In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa's foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these 'odious debts' from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.


Book Synopsis Africa's Odious Debts by : Léonce Ndikumana

Download or read book Africa's Odious Debts written by Léonce Ndikumana and published by Bloomsbury Publishing. This book was released on 2011-10-13 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa's foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these 'odious debts' from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.

Africa's Odious Debts

Africa's Odious Debts

Author: Professor Léonce Ndikumana

Publisher: Zed Books Ltd.

Published: 2011-10-13

Total Pages: 132

ISBN-13: 1780321465

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In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa’s foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these ‘odious debts’ from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.


Book Synopsis Africa's Odious Debts by : Professor Léonce Ndikumana

Download or read book Africa's Odious Debts written by Professor Léonce Ndikumana and published by Zed Books Ltd.. This book was released on 2011-10-13 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa’s foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these ‘odious debts’ from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.

Capital flight from Africa

Capital flight from Africa

Author: A. Ibi Ajayi and Léonce Ndikumana

Publisher:

Published: 2015

Total Pages:

ISBN-13:

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Book Synopsis Capital flight from Africa by : A. Ibi Ajayi and Léonce Ndikumana

Download or read book Capital flight from Africa written by A. Ibi Ajayi and Léonce Ndikumana and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

China's Second Continent

China's Second Continent

Author: Howard W. French

Publisher: Vintage

Published: 2015-02-03

Total Pages: 306

ISBN-13: 0307946657

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A New York Times Notable Book Chinese immigrants of the recent past and unfolding twenty-first century are in search of the African dream. So explains indefatigable traveler Howard W. French, prize-winning investigative journalist and former New York Times bureau chief in Africa and China, in the definitive account of this seismic geopolitical development. China’s burgeoning presence in Africa is already shaping, and reshaping, the future of millions of people. From Liberia to Senegal to Mozambique, in creaky trucks and by back roads, French introduces us to the characters who make up China’s dogged emigrant population: entrepreneurs singlehandedly reshaping African infrastructure, and less-lucky migrants barely scraping by but still convinced of Africa’s opportunities. French’s acute observations offer illuminating insight into the most pressing unknowns of modern Sino-African relations: Why China is making these cultural and economic incursions into the continent; what Africa’s role is in this equation; and what the ramifications for both parties and their people—and the watching world—will be in the foreseeable future. One of the Best Books of the Year at • The Economist • The Guardian • Foreign Affairs


Book Synopsis China's Second Continent by : Howard W. French

Download or read book China's Second Continent written by Howard W. French and published by Vintage. This book was released on 2015-02-03 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Notable Book Chinese immigrants of the recent past and unfolding twenty-first century are in search of the African dream. So explains indefatigable traveler Howard W. French, prize-winning investigative journalist and former New York Times bureau chief in Africa and China, in the definitive account of this seismic geopolitical development. China’s burgeoning presence in Africa is already shaping, and reshaping, the future of millions of people. From Liberia to Senegal to Mozambique, in creaky trucks and by back roads, French introduces us to the characters who make up China’s dogged emigrant population: entrepreneurs singlehandedly reshaping African infrastructure, and less-lucky migrants barely scraping by but still convinced of Africa’s opportunities. French’s acute observations offer illuminating insight into the most pressing unknowns of modern Sino-African relations: Why China is making these cultural and economic incursions into the continent; what Africa’s role is in this equation; and what the ramifications for both parties and their people—and the watching world—will be in the foreseeable future. One of the Best Books of the Year at • The Economist • The Guardian • Foreign Affairs

Self-Devouring Growth

Self-Devouring Growth

Author: Julie Livingston

Publisher: Duke University Press Books

Published: 2019-09-20

Total Pages: 0

ISBN-13: 9781478005087

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Under capitalism, economic growth is seen as the key to collective well-being. In Self-Devouring Growth Julie Livingston upends this notion, showing that while consumption-driven growth may seem to benefit a particular locale, it produces a number of unacknowledged, negative consequences that ripple throughout the wider world. Structuring the book as a parable in which the example of Botswana has lessons for the rest of the globe, Livingston shows how fundamental needs for water, food, and transportation become harnessed to what she calls self-devouring growth: an unchecked and unsustainable global pursuit of economic growth that threatens catastrophic environmental destruction. As Livingston notes, improved technology alone cannot stave off such destruction; what is required is a greater accounting of the web of relationships between humans, nonhuman beings, plants, and minerals that growth entails. Livingston contends that by failing to understand these relationships and the consequences of self-devouring growth, we may be unknowingly consuming our future.


Book Synopsis Self-Devouring Growth by : Julie Livingston

Download or read book Self-Devouring Growth written by Julie Livingston and published by Duke University Press Books. This book was released on 2019-09-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under capitalism, economic growth is seen as the key to collective well-being. In Self-Devouring Growth Julie Livingston upends this notion, showing that while consumption-driven growth may seem to benefit a particular locale, it produces a number of unacknowledged, negative consequences that ripple throughout the wider world. Structuring the book as a parable in which the example of Botswana has lessons for the rest of the globe, Livingston shows how fundamental needs for water, food, and transportation become harnessed to what she calls self-devouring growth: an unchecked and unsustainable global pursuit of economic growth that threatens catastrophic environmental destruction. As Livingston notes, improved technology alone cannot stave off such destruction; what is required is a greater accounting of the web of relationships between humans, nonhuman beings, plants, and minerals that growth entails. Livingston contends that by failing to understand these relationships and the consequences of self-devouring growth, we may be unknowingly consuming our future.

Capital Punishment, Second Edition

Capital Punishment, Second Edition

Author: Alan Marzilli

Publisher: Infobase Publishing

Published: 2009-01-01

Total Pages:

ISBN-13: 1438105940

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Book Synopsis Capital Punishment, Second Edition by : Alan Marzilli

Download or read book Capital Punishment, Second Edition written by Alan Marzilli and published by Infobase Publishing. This book was released on 2009-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Against Global Apartheid

Against Global Apartheid

Author: Patrick Bond

Publisher: Palgrave Macmillan

Published: 2003

Total Pages: 356

ISBN-13: 9781842773932

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In 'Against Global Apartheid', Patrick Bond reveals the extent of the economic and human damage caused by policies implemented by World Bank and the IMF in developing countries, particularly South Africa, and argues that there is another way to more socially just economic development.


Book Synopsis Against Global Apartheid by : Patrick Bond

Download or read book Against Global Apartheid written by Patrick Bond and published by Palgrave Macmillan. This book was released on 2003 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 'Against Global Apartheid', Patrick Bond reveals the extent of the economic and human damage caused by policies implemented by World Bank and the IMF in developing countries, particularly South Africa, and argues that there is another way to more socially just economic development.

Tourism in Africa

Tourism in Africa

Author: Iain Christie

Publisher: World Bank Publications

Published: 2014-06-19

Total Pages: 325

ISBN-13: 1464801975

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This book presents how tourism initiates economic development and how constraints to the growth of tourism in Sub-Saharan Africa can be addressed. With 24 case studies that illustrate tourism development, it reveals that despite destination challenges, the basic elements needed to initialize or intensify success are applicable across the region.


Book Synopsis Tourism in Africa by : Iain Christie

Download or read book Tourism in Africa written by Iain Christie and published by World Bank Publications. This book was released on 2014-06-19 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents how tourism initiates economic development and how constraints to the growth of tourism in Sub-Saharan Africa can be addressed. With 24 case studies that illustrate tourism development, it reveals that despite destination challenges, the basic elements needed to initialize or intensify success are applicable across the region.