One Bad Turn Deserves Another: How Terrorism Sustains the Addiction to Capital Flight in Africa

IF 0.9 Q4 BUSINESS

Journal of Industry Competition & Trade Pub Date : 2019-01-04 DOI:10.2139/ssrn.3365682

S. Asongu, R. Nting, E. Osabuohien

引用次数: 11

Abstract

This inquiry assesses if terrorism sustains the capital flight trap and whether the relationship is affected by varying the levels of governance and globalisation. The empirical evidence is based on interactive generalised method of moments with data from 37 African countries for the period 1996–2010. The following are established: (1) Evidence of a capital flight trap is apparent because past values of capital flight have a positive effect on future values of capital flight. (2) Terrorism sustains the positive effect of the capital flight trap on capital flight. (3) For the most part (especially with regard to political governance), terrorism sustains the addiction to capital flight in above-median governance sub-samples. Policy implications are discussed.

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急转直下：恐怖主义如何使非洲资本外逃成瘾

这项调查评估了恐怖主义是否维持了资本外逃陷阱，以及这种关系是否受到不同治理水平和全球化的影响。经验证据基于互动广义矩法，并结合了1996-2010年期间37个非洲国家的数据。以下内容得到了证实：（1）资本外逃陷阱的证据是显而易见的，因为过去的资本外逃价值对未来的资本外逃值有积极影响。（2）恐怖主义维持了资本外逃陷阱对资本外逃的积极影响。（3）在大多数情况下（特别是在政治治理方面），恐怖主义在高于中位数的治理子样本中维持了对资本外逃的依赖。讨论了政策影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Industry Competition & Trade BUSINESS-

CiteScore

3.10

自引率

5.30%

发文量

期刊介绍： The Journal of Industry, Competition and Trade (JICT) publishes research on the microeconomic foundations of industrial strategy, innovation, competition, and trade policy, concentrating on the functioning of markets for goods and services. The journal’s primary aim is to bridge the gaps between economic theory, empirical analysis and economic policy, and to provide a forum for applied theoretical research on policy questions. Journal of Industry, Competition and Trade promotes the combination of theories with facts, and encourages the incorporation of facts into model building. focuses on using applied theoretical research to arrive at policy conclusions, and encourages researchers to investigate policy questions. For example, game theoretical models that analyse the sources of and obstacles to innovation, the functioning of markets or strategic interactions are combined with empirical facts; and supporting empirical analysis is provided for models that explain how institutions, consumers and firms interact, how they shape their environment, and how incentives influence behaviour. Papers that analyse institutions and policy measures are expected to make explicit reference to theoretical models, while theoretical work is expected to include the analysis of empirical implications. The journal serves as a forum for dialogue between economists from academia and (national or international) policy circles. The composition of the Editorial Board, which includes academics as well as leading economists working at governmental and international organizations, facilitates exchanges between academia and economic policy. Officially cited as: J Ind Compet Trade