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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.

Capital movements --- Finance --- Business & Economics --- Investment & Speculation --- outflow of capital --- monetary policy --- economic development --- organised crime --- Africa --- Economic policy. --- outflow of capital. --- monetary policy. --- economic development. --- organised crime. --- Africa.

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This edited collection provides the most comprehensive thematic analysis of capital flight from Africa, covering economic and institutional aspects, as well as domestic and global dimensions. It is organized in three parts. The first part discusses the importance of capital flight in the context of the development policy discourse at national and international level. This part takes stock of the existing evidence on the nature, causes, and consequences of capital flight. It provides the most recent data on the magnitude of capital flight from 39 African countries, and a detailed analysis of the impact of capital flight on economic development in general and on poverty reduction in particular. The second part examines economic factors and impacts of capital flight. It presents analysis of capital flight in a flow of funds context, the impact of capital flight on macroeconomic outcomes with a focus on growth, and the linkages between capital flight and monetary policy, financial liberalization, and the global financial system. The third part explores the domestic and international institutional environment and its relevance for capital flight and stolen asset recovery. It discusses the role of governance, tax evasion, and secrecy jurisdictions in driving capital flight. The last part of the book offers suggestions for strategies to address the problem of capital flight from African countries.

Capital movements --- #SBIB:327.4H61 --- #SBIB:33H15 --- #SBIB:328H41 --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- Derde wereld: economische ontwikkeling --- Economie: geld en krediet --- Instellingen en beleid: Afrika: comparatief / diverse landen --- Africa --- Economic policy.

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This paper explores the effect of U.S. unconventional monetary policy (QE2) on a group of frontier developing economies (FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have been small. The relative insulation of emerging Asia from the global financial cycle can likely be attributed to the presence of managed capital accounts coupled with shallow financial markets. Should U.S. monetary policy begin to normalize the direct first-round impact on developing Asia is likely to be small.

Monetary policy --- Capital movements --- Liquidity (Economics) --- Assets, Frozen --- Frozen assets --- Finance --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Econometric models. --- Banks and Banking --- Exports and Imports --- Money and Monetary Policy --- Monetary Policy --- Fiscal Policy --- Open Economy Macroeconomics --- Interest Rates: Determination, Term Structure, and Effects --- International Investment --- Long-term Capital Movements --- Current Account Adjustment --- Short-term Capital Movements --- Monetary economics --- International economics --- Unconventional monetary policies --- Short term interest rates --- Yield curve --- Current account balance --- Financial services --- Interest rates --- United States

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This paper analyzes the transmission of global liquidity to the ASEAN-5 countries (ASEAN-5), including the impact on financial landscapes and risks to financial stability. It finds that global liquidity transmission and changing financial landscapes have contributed to increases in risks to financial stability in ASEAN-5. Therefore, policymakers in ASEAN-5 should prepare for possible liquidity tightening, strengthen regulation of nonbanks, and establish a comprehensive financial stability framework. A number of couontries are well-advanced in this process.

International liquidity. --- Capital movements --- Financial institutions --- Financial risk management --- Financial intermediaries --- Lending institutions --- Associations, institutions, etc. --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- Liquidity (Economics) --- Risk management --- State supervision --- Finance: General --- Investments: General --- Central Banks and Their Policies --- International Lending and Debt Problems --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- General Financial Markets: Government Policy and Regulation --- Portfolio Choice --- Investment Decisions --- General Financial Markets: General (includes Measurement and Data) --- Finance --- Investment & securities --- International liquidity --- Financial sector stability --- Financial sector risk --- Securities --- Liquidity --- Asset and liability management --- Financial sector policy and analysis --- Financial services industry --- Financial instruments --- Economics --- United States

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This Selected Issues paper examines several real sector issues, including estimates of potential output, the effect of Intel’s withdrawal on gross domestic product (GDP), labor market and inequality and electricity prices in Costa Rica. The production function approach shows that the main drivers of fluctuations in GDP growth are total factor productivity (TFP) and labor supply. These results on TFP, however, should be interpreted with caution. The TFP measure is a residual—the difference between output growth and the growth in the quantity (and quality) of inputs. Estimates suggest that potential GDP growth is about 4.3 percent, the output gap is broadly closed, and Intel’s withdrawal will lower real GDP growth in about 1/2 percentage point. Significant wage premia are identified across public versus private sectors and some evidence of intergenerational inequality is also presented. Electricity tariffs are found to be regionally competitive albeit with inefficiencies in their determination.

Banks and banking, Central -- Costa Rica. --- Financial services industry -- Costa Rica. --- International monetary fund -- Costa Rica. --- Monetary policy -- Costa Rica. --- Finance --- Business & Economics --- International Finance --- Financial services industry --- Banks and banking, Central --- Monetary policy --- Foreign exchange rates --- Capital movements --- Economic development --- Labor market --- Electric power --- International Monetary Fund --- Electric power supply --- Power supply, Electric --- Employees --- Market, Labor --- Supply and demand for labor --- Development, Economic --- Economic growth --- Growth, Economic --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Services, Financial --- Monetary management --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Supply and demand --- Rates --- Internationaal monetair fonds --- International monetary fund --- Power resources --- Markets --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Balance of payments --- International finance --- Service industries --- Currency boards --- Money supply --- Banks and banking --- Banks and Banking --- Finance: General --- Foreign Exchange --- Macroeconomics --- Public Finance --- Fiscal Policy --- General Financial Markets: Government Policy and Regulation --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- International Financial Markets --- Macroeconomics: Production --- Currency --- Banking --- Financial services law & regulation --- Public finance & taxation --- Fiscal consolidation --- Basel III --- Currency markets --- Financial markets --- Fiscal policy --- Exchange rate flexibility --- State supervision --- Foreign exchange market --- Production --- Economic theory --- Costa Rica