Flight Capital as a Portfolio Choice.
Among 51 countries studied, there are large regional differences in the proportion of private wealth held abroad, ranging from 3 percent in South Asia to 39 percent in Africa. Three variables explain capital flight in Africa: exchange rate overvaluation, adverse investor risk ratings, and high indeb...
| Main Authors: | , , |
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| Format: | Working paper |
| Language: | English |
| Published: |
World Bank
1999
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