The research paper focuses on capital flights from developing countries, that have increased tremendously in the last decade. A large portion of these flows occurs via illicit means. The paper is comprised of four sections in total. Section 2 attempts to unpack the key concepts related to illicit financial flows and their definitions, as well as the different methodologies typically used in quantifying IFF. Section 3 discusses the methodology adopted for the analysis and results from quantifying IFF in Africa, while Section 4 discusses the methodology and findings from economic implications of such losses on African countries based on a CGE assessment. Section 5 concludes and discusses policy implications of IFF losses for Africa.
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