DOES CAPITAL FLIGHT HARM DOMESTIC INVESTMENT? AN EMPIRICAL INVESTIGATION FROM A PANEL OF EMERGING AND ADVANCED EUROPE

• Authors: Workie Tiruneh Menbere , Siranova Maria , Ostrihon Filip
• Languages of publication: EN

Abstracts

EN

In this study, we estimate the size of capital flight and its spill over effect on domestic investment in selected European economies during the 2006 – 2016 period. The results based on the fixed effects ordinary least squares method suggest that capital flight has an adverse impact on investment in the economies included in our sample. As a robustness check, we also use the system generalized method of moments (GMM). Our results based on a mix of emerging and advanced economies are fairly similar with previous studies based on emerging economies alone (Yalta, 2010) and developing economies (Ndiaye, 2009).

Keywords

EN

CAPITAL FLIGHT; INVESTMENT; GMM; EUROPE

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2021
• Volume: 69
• Issue: 2
• Pages: 135 – 157

Contributors

author

Workie Tiruneh Menbere

• Institute of Economic Research, Slovak Academy of Sciences, Šancová 56, 811 05 Bratislava, Slovak Republic

author

Siranova Maria

author

Ostrihon Filip

Identifiers

DOI

https://doi.org/10.31577/ekoncas.2021.02.02