Africa’s capital losses from illicit financial flows far outweigh inflows from aid or direct foreign investment. But what can be done? It is essential to understand that this depends on the same global system that handles “offshore investments” by Mitt Romney and others in the global 1%.
Fall 2012
Edited by William Minter and Timothy Scarnecchia
Special Bulletin Editors: Léonce Ndikumana and James Boyce
Table of Contents
Introduction
William Minter and Timothy Scarnecchia
Rich Presidents of Poor Nations: Capital Flight from Resource-Rich Countries in Africa
Léonce Ndikumana and James K. Boyce
Macroeconomic Impact of Capital Flows in Sub-Saharan African Countries, 1980-2008
John Weeks
Illicit Financial Flows: A Constraint on Poverty Reduction in Africa
Janvier D. Nkurunziza
The Paradox of Capital Flight from a Capital-Starved Continent
Elizabeth Asiedu, John Nana Francois, and Akwasi Nti-Addae
Stolen Asset Recovery: The Need for a Global Effort
Hippolyte Fofack
Debt Audits and the Repudiation of Odious Debts
James K. Boyce and Léonce Ndikumana
The Benefits of Country-by-Country Reporting
Richard Murphy
Africa’s Lost Tax Revenue
John Christensen
Tax Havens: An Emerging Challenge to Africa’s Development Financing
Nicholas Shaxson
Plundering a Continent
Raymond Baker
Information Resources on Capital Losses and Related Issues
William Minter
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