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Combating capital flight from developing countries

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  • Debt Problems
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Intereconomics

Abstract

The flight of capital from the highly indebted developing countries undoubtedly constitutes one of the most serious problems that are making the international debt crisis difficult if not impossible to resolve. Dr. Nölling outlines some suggestions for action which could limit capital flight significantly in the short term.

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References

  1. Compare the comment by the Mexican Minister of Finance J. Silva Herzog that “evidently capital flight… is a phenomenon that has only been discovered in the last six months”, in: Handelsblatt, 26th March 1986.

  2. Recently the US Under-Secretary D. Mulford called on debtor countries to carry out economic reforms “to reverse the capital flight”, but without making any concrete suggestions; see his statement to the Sub-committee on International Development Institutions and Finance. US House of Representatives, 20th March 1986, reprinted in: Deutsche Bundesbank, Auszüge aus Presseartikeln, No. 27, 10th April 1986.

  3. D. Duwendag: “Baker-Plan”: Absicherung gegen Kapitalflucht?, in: Zeitschrift für das Gesamte Kreditwesen, No. 2, 1986, p. 57.

  4. Bank for International Settlements: 54th Annual Report, Basle 1984, p. 113.

  5. World Bank: World Development Report 1985, Washington, D.C., 1985, p. 75.

  6. Morgan Guaranty Trust Company of New York: World Financial Markets, September/October 1985, p. 4.

  7. Bank for International Settlements, op. cit., 54th Annual Report, Basle 1984, p. 97.

  8. Morgan Guaranty Trust Company of New York: World Financial Markets, March 1986, pp. 13 ff.

  9. World Bank, op. cit., World Development Report 1985, Washington, D. C., 1985, p. 74.

  10. D. Duwendag: Kapitalflucht aus Entwicklungsländern: Schätzprobleme und Bestimmungsfaktoren, in: A. Gutowski (ed.): Die Internationale Schuldenkrise, Ursachen—Konsequenzen—historische Erfahrungen, to be published shortly by Duncker & Humblot, Berlin.

  11. Handelsblatt, 29th January 1986.

  12. J. Silva Herzog, op. cit. that “evidently capital flight … is a phenomenon that has only been discovered in the last six months”, in: Handelsblatt, 26th March 1986.

  13. see Geschäftsbericht der Deutschen Bundesbank für das Jahr 1985, p 81.

  14. See for example J. Shihata: Bringing MIGA to Birth, in: Euromoney, November 1985, pp. 14 f.

  15. D. Duwendag: “Baker-Plan” etc., op. cit., Kapitalflucht aus Entwicklungsländern: Schätzprobleme und Bestimmungsfaktoren, in: A. Gutowski (ed.): Die internationale Schuldenkrise. Ursachen—Konsequenzen—historische Erfahrungen, to be published shortly by Duncker & Humblot, Berlin.

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  1. Hamburg

    Wilhelm Nölling

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  1. Wilhelm Nölling
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This article expresse the personal opinion of the author.

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Nölling, W. Combating capital flight from developing countries. Intereconomics 21, 117–123 (1986). https://doi.org/10.1007/BF02925281

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  • DOI: https://doi.org/10.1007/BF02925281

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