October 05, 2014 | Working Paper
  • Type of publication: Working Paper
  • Research or In The Media: Research
  • Research Area: African Development Policy
  • Publication Date: 2014-10-05
  • Authors:
    • Add Authors: James K. Boyce
    • Add Authors: Léonce Ndikumana
  • Show in Front Page Modules: Yes
  • JEL Codes: O16

This paper discusses strategies to stem capital flight from African countries. It emphasizes the importance of the distinction between licitly and illicitly acquired capital, and the need to tailor strategies to the specific type of capital flight concerned. Policies to prevent the illegal export of honestly acquired capital and strategies to address both trade-related capital flight and transfer pricing are examined. The paper discusses strategies for preventing asset theft and for tracking and repatriating stolen assets. It discusses the burden of odious debts and the role of debt audits in addressing this problem. Finally it maps the contours of a global compact for the prevention of capital flight and tax evasion.

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