英文文献:Terrorism and Capital Flight from Africa-恐怖主义和非洲资本外逃
英文文献作者:Uchenna Efobi,Simplice Asongu
英文文献摘要:
We assess the effects of terrorism on capital flight in a panel of 29 African countries for which data is available for the period 1987-2008. The terrorism dynamics entail domestic, transnational, unclear and total terrorisms. The empirical evidence is based on Generalised Method of Moments (GMM) with forward orthogonal deviations and Quantile regressions (QR). The following findings are established. First, for GMM, domestic, transnational, unclear and total terrorisms consistently increase capital flight. Second, for QR, with the exception of transnational terrorism for which a positive effect on capital flight is apparent in the 0.90th quintile, terrorism dynamics affect capital flight in low quintiles of the capital flight distribution. In other words, terrorism increases capital flight for the most part when initial levels of capital flight are low. Policy implications are discussed.
我们在一个由29个非洲国家组成的小组中评估了1987-2008年期间恐怖主义对资本外逃的影响。恐怖主义动态包括国内的、跨国的、不明确的和全面的恐怖主义。经验证据是基于广义矩法(GMM)的正正交偏差和分位数回归(QR)。下面的发现是确定的。首先,对于GMM来说,国内的、跨国的、不明确的和全面的恐怖主义不断增加资本外逃。第二,对于QR而言,除了跨国恐怖主义对资本外逃的积极影响在0.90个五分位数中表现明显外,恐怖主义动态对资本外逃的影响在资本外逃分布的低五分位数中表现出来。换句话说,当资本外逃的初始水平较低时,恐怖主义在很大程度上加剧了资本外逃。讨论了政策含义。