Capital flight from resource rich developing countries

This paper analyzes the magnitude and determinants of capital flight from resource-rich developing countries (RRDCs) using macro-panel data from 21 countries from 1990 to 2011, Calculations reveal that capital flight from 10 RRDCs was less serious than that experienced by some Latin American countries during the 1980s, In addition, capital flight was more episodic than chronic during the period studied. Econometric analysis indicates a linkage between natural resource revenues and capital flight during the period. However, the age between inflows of new debt and capital flight is far stronger, as previous capital flight literature suggests.