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	Report Puts Arab External Investments At $212-318Bn, Evaluates Conditions For Repatriation (Site not responding. Last check: 2007-10-16)
		Capital outflows for ‘normal’ reasons such as portfolio diversification, especially when local capital markets are underdeveloped (as is the case in the Arab world), are differentiated from capital flight, which occurs as a result of economic or political instability.
		In 2000, the capital flight element of capital outflows was estimated at $191.2bn.
		However, there was a slowdown in the growth of capital flight after 1984, but it did not lead to an increase in domestic investment, implying that the money was used for consumption purposes.
	www.mees.com /postedarticles/finance/capital/a45n38b02.htm (1015 words)

	Capital flight - Wikipedia, the free encyclopedia
		Capital flight, in economics, occurs when assets and/or money rapidly flow out of a country, due to an economic event that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confidence in its economic strength.
		Capital flight is also sometimes used to refer to the removal of wealth and assets from a city or region within a country.
		The flight of capital from central cities to the suburbs that ring them was also common throughout the second half of the twentieth century in the United States.
	en.wikipedia.org /wiki/Capital_flight (380 words)

	DO EXCHANGE CONTROLS PREVENT CAPITAL FLIGHT
		But she also emphasizes that Brazil presents low level of capital flight in consequence of the effectiveness of governmental intervention in the economy with capital control being one of the instruments to accomplish the general intervention.
		In the capital flight literature, of countries with foreign debt and relatively large economies (and for Brazil high inflation), estimates for South Korea and Brazil are typically among the lowest.
		Moreover, this author mentions that "both the economic conditions that may encourage capital flight and capital flight itself increased or worsened in the 1980s in part because of the lack of consistency and coordination of Brazil’s capital control system, and because Brazil’s intervention triad in general was weakened".
	www.gwu.edu /~ibi/minerva/Fall1997/Israel.Pinheiro.html (8054 words)

	Capital Flight, by Darryl McLeod: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		Capital flight is usually a symptom rather than a cause of financial crisis.
		This flight capital is held offshore until conditions improve or until the source of uncertainty is resolved.
		Capital flight from the Weimar Republic continued in 1931, despite the fact that capital expatriation was made an offense punishable by death.
	www.econlib.org /library/Enc/CapitalFlight.html (1689 words)

	Criminal Money Laundering and Illegal Flight Capital (Site not responding. Last check: 2007-10-16)
		And yet flight capital is a subject that few economists will willingly touch with a ten foot pole, which may go some distance to explain why Brookings brought me in to work on it.
		That's true of the legal component of flight capital, the money that goes across borders to be deposited for a period of time in a different currency or a different market, to take advantage of exchange rate fluctuations, or what have you.
		The illegal component of the flight capital is motivated by the desire to be accumulated in a secret and hidden manner so that it does not have to be shared with other managers or employees or family members, or what have you.
	www.brook.edu /comm/transcripts/19990929.htm (9729 words)

	The Cost of Capital Flight: What Thailand Lost (Site not responding. Last check: 2007-10-16)
		The form of capital flight we have considered in our research is referred to as the "residual" capital outflow.
		Had capital flight over the 1980s and 1990s been repatriated back to Thailand, or had capital not been taken out in the first place, substantial gains in investments, output, and employment could have been realized.
		In 1980, for instance, a billion dollars in re-invested capital flight would still generate a sizeable stream of output: $270 million in 1981, $131 million in 1982, and so on down the years.
	www.fguide.org /Bulletin/capflight.htm (683 words)

	Coping With Capital Flight
		Capital flight occurs when there is a general push by investors to exit both the stock market and the local currency.
		Some countries have attempted to reverse the capital flow by steeply elevating domestic interest rates (the short-term bank rate in Indonesia was at 57 percent on September 1).
		The meltdown of emerging nation stock markets (and associated capital flight) was on the one hand an efflux of fundamental economic and institutional problems (such as those described by Roger Roderick in this space in June) plaguing the recently industrialized world.
	www.clt.astate.edu /crbrown/flight.htm (714 words)

	Capital Flight and Corruption: Alternative Treaty 15
		Capital flight and corruption are some of the main causes of the poverty in the South.
		Without capital flight and corruption the debt crisis would not exist in its current form.
		Transparent statistics on the transfer of capital by banks must be sent to the country of origin.
	csdngo.igc.org /alttreaties/AT15.htm (518 words)

	PERI - Political Economy Research Institute: Gerald Epstein on Capital Flight (Site not responding. Last check: 2007-10-16)
		Capital flight connected to foreign borrowing is one of the more pernicious forms.
		Capital flight can cause a financial panic — when money leaves the country it can cause the domestic currency to fall in value and that can even lead to a stampede out of the currency.
		Capital controls, or more broadly, “capital management techniques” are designed to limit and/or channel the inflows and/or outflows of financial assets, usually in order to serve governmental or social purposes.
	www.peri.umass.edu /Gerald-Epstein-o.340.0.html (1512 words)

	Curfews on capital flight
		The main appeal of such proposals, I believe, is that they seem to deal with capital flight in a manner that does not violate the basic principle of freedom of contract - that does not invoke the dreaded specter of capital control.
		In short, the appeal of measures that address the problem of foreign-currency debt, but leave domestic residents free to engage in capital flight, seems to me at least to be based on a failure to think the matter through.
		If one still wants a defense against capital flight, either capital movement must be controlled directly, Malaysian-style; or (my preferred version), a country must impose surrender requirements on export earnings, and in turn sell that foreign exchange only for current-account purposes (imports and debt service).
	web.mit.edu /krugman/www/curfews.html (1195 words)

	Amazon.fr : Capital Flight And Capital Controls In Developing Countries: Livres en anglais: Gerald A. Epstein (Site not responding. Last check: 2007-10-16)
		Capital flight - the unrecorded export of capital from developing countries - often represents a significant cost for developing countries.
		The volume includes a detailed description of capital flight estimation methods, a chapter surveying the impact of financial liberalization, and several chapters on controls designed to solve the capital flight problem.
		The first book devoted to the careful calculation of capital flight and its historical and policy context, this volume will be of great interest to students and scholars in the areas of international finance and economic development.
	www.amazon.fr /Capital-Flight-Controls-Developing-Countries/dp/184376931X (415 words)

	Weak Indian rupee to fuel capital flight (Site not responding. Last check: 2007-10-16)
		Combined with other foreign short-term capital inflows, the total stock of potential flight capital in India is probably about $55 billion.
		Capital flight sufficient to provoke a balance of payments crisis may be improbable.
		Foreign capital flight from Russia eventuated the devaluation of the ruble in 1998.
	www.condoradvisers.com /Articles_View.php?ArticleID=40 (802 words)

	RIA Novosti - Business - Capital flight increase not down to worse investment climate: Central Bank
		Ignatyev said net capital flight from the private sector was $9.4 billion in 2004 in comparison with $1.9 billion in 2003.
		Ignatyev said a decline in a net capital inflow into the banking sector approximately equaled the spread in 2004 and 2003 capital flight indices.
		Speaking about reasons for the decrease in capital inflow into the banking sector, Ignatyev said it was due to banks' response to a change in the nominal rate of the ruble against the dollar.
	en.rian.ru /business/20050706/40854693.html (365 words)

	CNN.com - Russia bank 'sees capital flight' - Nov. 8, 2003 (Site not responding. Last check: 2007-10-16)
		Russia fears a big capital flight in the second half of the year after the arrest of the boss of oil giant Yukos, the central bank's deputy chairman said in a newspaper interview on Saturday.
		Oleg Vyugin told the Financial Times he expected a net private capital flight of more than $13 billion in the last six months of the year, compared to a net $4.6 billion inflow in the first half.
		He said net private capital outflow was $7.7 billion in the third quarter of the year and the bank estimated it would reach $8.6 billion for the full year.
	cnn.com /2003/WORLD/europe/11/08/yukos.reut/index.html (341 words)

	SSRN-On the Definition and Magnitude of Recent Capital Flight by Robert Cumby, Richard Levich
		We argue that an appropriate definition of capital flight is one that is consistent with the kinds of economic questions under consideration.
		In theory, capital flight should be viewed within the context of a general equilibrium model.
		When this is done, capital flight will appear to be a symptom of underlying economic forces rather than a cause of national welfare losses.
	papers.ssrn.com /sol3/papers.cfm?abstract_id=227503 (503 words)

	Russian Capital Flight - Johnson's Russia List 1-15-03 (Site not responding. Last check: 2007-10-16)
		Capital flight totaled $25 billion last year, or $13 billion, or somewhere in between.
		Although new Central Bank data show that the pace of net capital outflows surged in the fourth quarter to $5 billion, bringing the total for the year to $12.5 billion, the bank does not calculate capital flight, leaving economists to guess about a crucial indicator of investor confidence.
		The difference between capital outflow and capital flight is that while the former is legal, the latter is often illegal, making it virtually impossible to gauge with any certainty.
	www.cdi.org /russia/johnson/7018-15.cfm (590 words)

	Bruce Bartlett Opinion Editorial: CAPITAL FLIGHT FROM RUSSIA
		Capital flight occurs when governments adopt policies that expropriate capital or fail to protect it.
		Although denounced by politicians, capital flight has generally been viewed in a positive light by economists, who see it as a check on arbitrary state power.
		Capital flight ultimately punished the country that encouraged it, reducing employment and wealth.
	www.ncpa.org /oped/bartlett/sept998.html (560 words)

	Capital flight (Site not responding. Last check: 2007-10-16)
		Seen in Asian markets in the 1990s capital flight is when assets and/or money rapidly flow out of a country.
		This leads to a disappearance of wealth and is usually accompanied by a sharp drop in the exchange rate of the affected country.
		This fall is particularly damaging when the flight Capital belongs to the people of the affected country, because not only are the citizens now burdened by the loss of faith in the economy and devaluation of their currency, but probably also a lot of their assets lost a lot of their nominal value.
	capital-flight.iqnaut.net (183 words)

	The IMF and capital flight: Redesigning the international financial architecture (Bretton Woods Project)
		The international financial system facilitates trillions of dollars of capital flight from developing and developed countries to onshore and offshore financial centres, with the active participation of banks and other financial institutions.
		The solution to the capital flight problem is to override bank secrecy in tax matters and require automatic exchange of tax-relevant information in the international context.
		Exchange of information between governments about capital flight was urged by John Maynard Keynes and Harry Dexter White, the principal architects of the IMF, when the Bretton Woods agreement was being drafted in 1944.
	www.brettonwoodsproject.org /art.shtml?x=507905 (1924 words)

	Iran Focus-Iran's capital flight breaks record - Iran (General) - News
		The market flight took a dramatic turn for the worse after Ahmadinejad made a speech in Tehran calling for the destruction of Israel and threatening Iran’s Muslim neighbours that developed ties with the Jewish state, an investor close to the government, who wished to remain anonymous, said.
		The capital flight began in earnest in June, after the election of Mahmoud Ahmadinejad as the new president.
		Ahmadinejad’s recent comments, however, spiked capital flight to an all-time high and there are no indications that the markets would calm down any time soon, the source said.
	www.iranfocus.com /modules/news/article.php?storyid=4389 (444 words)

	DIVERGENCE SPELLS CAPITAL FLIGHT FROM POLAND AND HUNGARY (Site not responding. Last check: 2007-10-16)
		Clearly the scope for capital flight in both Poland and Hungary is significant.
		In the past 10 years, episodes of large-scale capital flight in Mexico, Turkey, Russia and Brazil have been triggered by confidence crises.
		The increasing risk of capital flight and sharp sell-off of investment assets and currencies in Poland and Hungary is not reflected in asset values, especially the international bonds of both countries.
	www.condoradvisers.com /Articles_View.php?ArticleID=15 (725 words)

	Globalize That: Capital Flight to China
		On the other hand, the sober business logic of capital seeking lower labor costs worldwide is hard to miss.
		Capital flight to China a case in point.
		Meanwhile, the needs of capital to expand are equated with decision-making processes in the rich nations.
	www.commondreams.org /views03/0812-03.htm (1051 words)

	Flight Capital by David Heenan : The Alarming Exodus of America's Best and Brightest
		The best and brightest in America are returning to their homelands in record numbers--and with them is going U.S. technology and economic preeminence.
		In Flight Capital, Heenan explores this exodus through the personal stories of dozens of successful, foreign-born professionals who are leaving America for opportunities in their native lands: China, Ireland, Singapore, Taiwan, India, Mexico, Iceland, and Israel.
		Compelling and timely, this book is sure to spark debate on where America's future lies in the global economic community.
	www.flight-capital.com (201 words)

	Edward Elgar - Capital Flight And Capital Controls In Developing Countries
		In addition to the continued high level of recorded short-term financial flows, this book documents the large scale unrecorded capital flights that have hit a number of developing countries.
		This situation is often reversed, however, with capital fleeing poorer countries for wealthier, capital-abundant locales.
		Using a common methodology for a set of case studies on the size, causes and consequences of capital flight in developing countries, the contributors address the extent of capital flight, its effects, and what can be done to reverse it.
	www.e-elgar.co.uk /bookentry_main.lasso?id=3513 (313 words)

	Capital levy - Wikipedia, the free encyclopedia
		Asquith has pronounced himself cautiously in favour of a capital levy, on the condition, amongst others, that it must not be allowed to discourage the habit of saving." Cartoon from Punch magazine, February 11, 1920, illustrating part of the dilemma for governments pondering the use of a capital levy.
		A capital levy is a tax on capital rather than income, and is collected once rather than annually.
		Some economists argue that capital levies are a disincentive to savings and investment, though others argue that in theory this need not be the case.
	en.wikipedia.org /wiki/Capital_levy (208 words)

	An econometric model of capital flight from developing countries
		The paper briefly discusses several empirical definitions of capital flight and presents estimates of capital flight for the sample based on some of these measures.
		Anecdotal evidence for the nations in our sample underpins our hypothesis that capital flight is driven by a heightened, pervasive risk which reflects the degree of domestic macroeconomic imbalance which is domestically undiversifiable.
		Our econometric model of the determinants of capital flight extends previous empirical studies of flight by expanding both the cross section of nations and time horizon of analysis.
	ideas.repec.org /p/fip/fedgif/579.html (1088 words)

	Tick - Tick - Tick The Economy Bomb ~ Page Two - Legislative attacks upon the wealthiest 1% of Americans could soon ... (Site not responding. Last check: 2007-10-16)
		The feds are seriously afraid of the consequences that the continued increase in capital flight will bring and they erroneously believed that those wealthy who were considering leaving would ever want to come back to a country that treated them like second class citizens.
		Add to all of this, the appalling increase in frivolous lawsuits by the greedy and the recent rash of government confiscations (forfeitures) and you discover that increasingly, the wealthy are finding that their only choice is to leave.
		But, far and away, the most pressing problems surrounding the capital flight issue are those caused by the Internal Revenue Service and the Income Tax.
	www.escapeartist.com /efam20/Tick_Tick_Tick_page_two.html (1990 words)

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