Year: 2016
Type: article
Abstract: Capital flight has been an issue of concern for Africa because it reduces the continent's much needed investible funds. In Kenya, the country lost US$ 4.9 billion in real terms from 1970 to 2010 through capital flight. This study seeks to provide fiscal evidence of capital flight in Kenya. The results establish that past capital flight, change in debt, and government expenditure have no significant impact on capital flight in Kenya. However, external debt, taxation, and expenditure practices under different political regimes have significant effects on capital flight. The study discusses policy implications emerging from the empirical results.
Source: African Development Review
Authors: Dianah Ngui Muchai, Joseph Muchai
Institution: Kenyatta University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W2472899752