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PERI-Carnegie-Corporation of New York Research Project on: Capital Flight from Africa and Perverse Global Connections

As a 2021 Andrew Carnegie Fellow, Léonce Ndikumana received a generous grant from Carnegie Corporation of New York to support a research project on “Capital Flight from Africa and Perverse Global Connections: Evidence and Possible Solutions.” The project undertakes a quantitative assessment of capital flight, its mechanisms and impacts in three selected African countries – Cameroon, Ghana, and Zambia. It engages a historical and an institutional analysis of aspects of the global trade and financial systems that facilitate capital flight from these three countries. The analysis focuses on natural resource sectors in these countries to explore the extent to which these sectors are exposed to capital flight notably through trade misinvoicing, profit-shifting by multinational corporations that dominate the sectors, weaknesses in the domestic regulatory systems, and structural flaws in the global trade and financial systems. This project builds on previous country level analysis of capital flight, notably the studies on Angola, Côte d’Ivoire, and South Africa published in the volume edited Ndikumana and Boyce (2022) - On the Trail of Capital Flight from Africa: The Takers and the Enablers.

This Working Paper series presents the results from this project.

>> "The State, Corporations, or the People: Who Benefits from Mining in Zambia?"
>> "Dark Spots in the International Commodity Value Chain: The Case of Copper in Zambia"

>> "Gold in Ghana: A Story of Unbalanced Exchange"

>> "Cocoa in Ghana, the 'Political Crop': Does State Control Shield the Cocoa Sector from Exposure to Capital Flight?"

>> "Capital Flight from Natural Resource-Dependent African Countries: Updated Estimates and Analysis for the Cases of Cameroon, Ghana, and Zambia, 1970-2021"

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