Publication

The study provides data on estimated resident outflows of capital for research on capital flight, capital movements and financial integration. It critically evaluates estimation methods used in the literature and applies them to a sample of 116 countries for the period 1971–98. The author makes the case that the most widely prevalent measure of capital flight can at best be treated as a resident capital flow, which captures capital flight as well as other influences. He argues that these estimates can be used along with explanatory variables and country-specific information to determine the types of capital flow to be explained.