02063nam a2200121   4500100002400000245011400024260004400138300000900182490006900191520156100260650001901821856010101840  aAbdullah, Almounsor  aA Development Comparative Approach to Capital Flight: The Case of the Middle East and North Africa, 1970-2002  aUSAbUniversity of Massachusetts c2004  a28p.  aFrom Capital Flight and Capital Controls in Developing Countries  aCapital flight from developing countries represents a lost potential for economic growth and development. This is the first study utilizing the residual approach to estimate capital flight from the Middle East and North Africa (MENA) exclusively. The analysis employs a development comparative approach on the countries of the region. In particular, it relates capital flight of each country to the model of development pursued. Resource-based industrialization states register the largest amount of capital flight mounting to more than 273 billion of 1995 United States Dollar (USD) with accumulated interest earning capital flight of more than 935 billion of current USD. On the other hand, state-led development economies and balanced economies of the MENA region show negative large capital flight of 102 and 112 billions of 1995 USD, respectively. Capital flight under the first model is assisted by natural resource exporting rents, the capitalist orientation of most economies of the model and the monarchial character of most of their political systems. In contrast, capital flight under the last two models is driven by large negative trade misinvoicing and assisted by the inward-looking strategies of the two models, one party or militarily controlled governments as well as the significant capital controls characterizing the states of the two models. In addition to calculating and highlighting capital flight from the region, this study presents an accounting for the phenomenon and provides policy implications based on the reported results.  aCapital flight  uhttp://iffoadatabase.trustafrica.org/iff/a-development-comparative-approach-to-capital-flig1.pdf