Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/141921
Authors: 
Asongu, Simplice A.
Year of Publication: 
2015
Series/Report no.: 
AGDI Working Paper WP/15/048
Abstract: 
An April 2015 World Bank report on attainment of the Millennium Development Goal (MDG) extreme poverty target has revealed that extreme poverty has been decreasing in all regions of the world with the exception of sub-Saharan Africa (SSA), in spite of the sub-region enjoying more than two decades of growth resurgence. This study builds on a critic of Piketty's 'capital in the 21st century' and recent methodological innovations on reverse Solow-Swan to review empirics on the adoption of common policy initiatives against a cause of extreme poverty in SSA: capital flight. The richness of the dataset enables the derivation of 14 fundamental characteristics of African capital flight based on income-levels, legal origins, natural resources, political stability, regional proximity and religious domination. The main finding reveals that regardless of fundamental characteristic, from a projection date of 2010, a genuine timeframe for harmonizing policies is between 2016 and 2023. In other words, the beginning of the psot-2015 agenda on sustainable development goals coincides with the timeframe for common capital flight policies.
Subjects: 
Econometric modeling
Capital flight
Poverty
Africa
JEL: 
C50
E62
F34
O19
O55
Document Type: 
Working Paper

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