{"id":2158,"date":"2022-01-24T14:39:10","date_gmt":"2022-01-24T13:39:10","guid":{"rendered":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/?p=2158"},"modified":"2022-07-01T10:39:41","modified_gmt":"2022-07-01T08:39:41","slug":"steinkamp-sven-and-frank-westermann-development-aid-and-illicit-capital-flight-evidence-from-nepal-the-world-economy-september-2021-doi-10-1111-twec-13208","status":"publish","type":"post","link":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/steinkamp-sven-and-frank-westermann-development-aid-and-illicit-capital-flight-evidence-from-nepal-the-world-economy-september-2021-doi-10-1111-twec-13208\/","title":{"rendered":"Steinkamp, Sven und Frank Westermann, „Development aid and illicit capital flight: Evidence from Nepal“, The World Economy<\/em>, September 2021, DOI: 10.1111\/twec.13208."},"content":{"rendered":"
\n
\"\"<\/a>
Source: Figure from working paper version (IEW WP #121)<\/figcaption><\/figure><\/div>\n\n\n

While illicit capital flight is a major concern of policymakers in developing countries, there is only little research on the possible link between capital flight and development aid. In this paper, we address the issue for Nepal, a stereotypical financially closed developing economy that is highly dependent on resources from abroad. Distinguishing features of our approach are the use of a narrowly defined proxy of capital flight, based on trade cost-adjusted mirror trade statistics, and the focus on the foreign-exchange cash component of development aid. We document a robust partial correlation between aid and outward capital flight that is economically and statistically significant. Interestingly, this positive correlation is not observable for remittances, an alternative form of foreign-exchange inflows where the capital flight motivation is absent. Furthermore, it is visible in the FX cash component but not in broader aid definitions that include in-kind transfers, or in multilateral and IMF loans. Finally, when comparing the subcomponents of export underinvoicing and import overinvoicing, only the latter is driving our results.<\/p>\n\n\n\n

Further Information.<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Obwohl illegale Kapitalflucht eine gro\u00dfe Herausforderung f\u00fcr wirtschaftspolitische Entscheidungstr\u00e4ger in Entwicklungsl\u00e4ndern darstellt, gibt es bislang nur wenig Forschungsergebnisse zum m\u00f6glichen Zusammenhang von Kapitalflucht und Entwicklungshilfe. In unseren Artikel greifen wir das Thema mit Hilfe von Daten aus Nepal auf, einem typischen Entwicklungsland mit geschlossenen Kapitalm\u00e4rkten und einer gro\u00dfen Abh\u00e4ngigkeit von Ressourcen aus dem Ausland. Der […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"trp-custom-language-flag":false},"uagb_author_info":{"display_name":"entwicklungsoekonomischerausschuss","author_link":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/author\/entwicklungsoekonomischerausschuss\/"},"uagb_comment_info":0,"uagb_excerpt":"Obwohl illegale Kapitalflucht eine gro\u00dfe Herausforderung f\u00fcr wirtschaftspolitische Entscheidungstr\u00e4ger in Entwicklungsl\u00e4ndern darstellt, gibt es bislang nur wenig Forschungsergebnisse zum m\u00f6glichen Zusammenhang von Kapitalflucht und Entwicklungshilfe. In unseren Artikel greifen wir das Thema mit Hilfe von Daten aus Nepal auf, einem typischen Entwicklungsland mit geschlossenen Kapitalm\u00e4rkten und einer gro\u00dfen Abh\u00e4ngigkeit von Ressourcen aus dem Ausland. Der…","_links":{"self":[{"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/posts\/2158"}],"collection":[{"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/comments?post=2158"}],"version-history":[{"count":10,"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/posts\/2158\/revisions"}],"predecessor-version":[{"id":2404,"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/posts\/2158\/revisions\/2404"}],"wp:attachment":[{"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/media?parent=2158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/categories?post=2158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entwicklungsoekonomischer-ausschuss.de\/en\/wp-json\/wp\/v2\/tags?post=2158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}