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The aim of this study is to make a comparative analysis of the macroeconomic and institutional determinants of capital flight between franc zone and non-franc zone countries over the 1984-2018 period. The pooled mean groups (PMG) regression results show that the exchange rate negatively and significantly determines capital flight in the franc zone countries, while in the non-franc zone countries, the exchange rate positively but insignificantly determines capital flight. We are more interested in this subject because of the persistence of capital flight in these areas after the Covid-19 crisis. Our main recommendation is to put in place policies to control exchange rate fluctuations, especially in the non-franc zone countries. This could help limit expectations of capital flight when for cyclical reasons, exchange rates depreciate.

This study empirically analyses the determinants of export diversification, as measured by the Theil Diversification Index, which takes into account the different margins of diversification. The pooled mean group method is applied to a sample of 23 Sub-Saharan African (SSA) countries divided into three distinct groups according to their natural resource endowments. The results show that the quality of government negatively determines export diversification in all groups of countries while total resource rent negatively determines export diversification in resource-rich countries. In contrast to this result, the level of democracy and stability of government positively determines export diversification in non-oil resource-rich countries and trade openness promotes diversification in oil-exporting countries. As for foreign direct investment, it promotes export diversification in oil-exporting countries and resource poor countries. Thus, policymakers should focus on promoting industrialization in the agricultural and processing sectors by better targeting foreign direct investment or by investing resource income in productive infrastructure to improve the competitiveness and productivity of economies.

The aim of this study is to show the effect of export diversification on capital flight in Cameroon over the 1984-2015 period. The Autoregressive Distributed Lags (ARDL) method is used. The results show that the export diversification promotes capital flight in Cameroon. The main recommendation is to ensure efficiency and transparency in the export diversification process in order to fight corruption, report the net worth of exported goods and fight capital flight.