A bad turn deserves another: linkages between terrorism, capital flight and industrialisation

Tourism, ICT and Inclusive Development: Global Evidence

“…This shows that countries would benefit by keeping their sustainable development scores on an increasing trajectory as a fall in one period will lead to further fall in the next period. Also, financial development has an enhancing effect on inclusive development and corroborates the results of Asongu and Nting (2021). An increase in financial development would enable domestic firms to be more opened to financial services for domestic investments, leading to economic productivity and welfare.…”

“…who argue that FDI inflows enhance sustainable development through its positive effect on life expectancy. The next control variable is financial development and is expected to produce either a positive or negative sign in accordance withAsongu and Nting (2021) who argue that financial development can have a positive or negative effect on inclusive human development depending on the proxy of financial development used. Equally, resource rent is used in accordance toNchofoung et al (2021) and is expected to present a positive sign following this study.…”

Promoting Renewable Energy Consumption in Sub-Saharan Africa: How Capital Flight Crowds Out the Favorable Effect of Foreign Aid

“…Second, in accordance with the scholarly and policy literature on capital flight, capital flight from Africa now exceeds foreign aid, foreign direct investment, and external debt combined (Agyeman, Sakyi, and Oteng-Abayie 2022;Ainembabazi 2022;Asongu, Nnanna, and Nting 2022;Ngono 2022). According to the attendant literature, capital flight represents a crucial policy syndrome because it prevents poor countries such as those in sub-Saharan Africa from investing in education, health, and the much-needed infrastructure, inter alia, that are relevant for economic development.…”

“…The choice of foreign aid in terms of net official development assistance (percent of GDP) is in line with extant literature on foreign aid (Asongu and Nnanna 2019). In accordance with contemporary literature on the subject (Asongu et al 2022), for the interest of rendering the capital flight measurement comparable in terms of average values with other variables employed in the study, the capital flight measurement is transformed by adding 20,000 to all corresponding values and taking their natural logarithms. The choice of 20,000 is motivated by the fact that negative values are apparent.…”

“…Furthermore, it is posited that funding agencies largely motivate their decision on foreign aid recipients by assessing various developing and poor countries along several comparative criteria, which include, existing levels of funding for development projects. Looking at it from a political angle, issues related to public administration, public accountability as well as domestic resource mobilization are largely contingent on the abilities of recipient nations to effectively manage the financial resources that are received (Nchofoung, Kengdo, et al 2022; Ohno and Niiya 2004; Ruben 2012), especially when concerns about capital flight that limit funding opportunities are very apparent (Asongu et al 2022; Mawutor et al 2022). By analogy, whether foreign aid is provided to a given country or not, also rests on existing development of renewable energy prospects in the light of global targets such as SDGs and existing levels of funding that are contingent on attendant levels of capital flight.…”