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Capital Flight from Sub-Saharan African Countries: Updated Estimates, 1970 - 2010

by Boyce, James K and Ndikumana, Leonce
Published by : PERI Research Report (USA) Physical details: 26p.
Subject(s): Capital Flight
Year: 2012
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The performance of Sub-Saharan African economies over the past decade has inspired optimism on the region's prospects for accelerating progress towards its development goals. Before the global financial and economic crisis, sub-Saharan Africa (SSA) grew by an average of over five percent per annum, a major turn around from the lost decades of the 1980s and 1990s. Even during the crisis, the sub-continent grew by 3% in 2009, trailing only East Asia as the second fastest growing region in the world. These achievements notwithstanding, SSA still faces major development challenges. It is now clear that the majority of the countries in the region will not achieve key millennium development goals.

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