Kidnapping rate and capital flight: Empirical evidence from developing countries
This paper contributes to the literature on capital flight by investigating the relationship between kidnapping rate and capital flight in developing countries. Numerous empirical studies exist on the determinants of capital flight but, surprisingly, none of them have investigated the empirical link...
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| Veröffentlicht in: | International journal of finance and economics 2023-07, Vol.28 (3), p.2590-2606 |
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| container_title | International journal of finance and economics |
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| creator | Okafor, Godwin Ede, Obiajulu |
| description | This paper contributes to the literature on capital flight by investigating the relationship between kidnapping rate and capital flight in developing countries. Numerous empirical studies exist on the determinants of capital flight but, surprisingly, none of them have investigated the empirical link between kidnapping and capital flight. To fill this existing void in the literature, this paper utilised a sample of 67 developing countries for the period 2003–2017. Estimates of the GMM technique show that kidnapping rate has a positive and significant impact on capital flight. However, estimations of the marginal differences show that this significant effect remained consistent only in the sample of ‘fragile’ developing countries. The results remained consistent to alternative measures of capital flight. |
| doi_str_mv | 10.1002/ijfe.2551 |
| format | Article |
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Numerous empirical studies exist on the determinants of capital flight but, surprisingly, none of them have investigated the empirical link between kidnapping and capital flight. To fill this existing void in the literature, this paper utilised a sample of 67 developing countries for the period 2003–2017. Estimates of the GMM technique show that kidnapping rate has a positive and significant impact on capital flight. However, estimations of the marginal differences show that this significant effect remained consistent only in the sample of ‘fragile’ developing countries. 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| ispartof | International journal of finance and economics, 2023-07, Vol.28 (3), p.2590-2606 |
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| language | eng |
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| source | Wiley Online Library Journals Frontfile Complete; EBSCOhost Business Source Complete |
| subjects | capital flight capital flow Datenaufbereitung developing countries Empirische Analyse Entwicklungsländer fragile countries Fragile Staaten/Gescheiterte Staaten Geiselnahme/Entführung Kapitalflucht/Fluchtkapital kidnapping Organisierte Kriminalität Zusammenhang |
| title | Kidnapping rate and capital flight: Empirical evidence from developing countries |
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