DETERMINANTS OF CAPITAL FLIGHT IN POST WAR SIERRA LEONE: AN EMPIRICAL ANALYSIS
نویسندگان
چکیده
The objective of this paper is to investigate the determinants capital flight in Sierra Leone and direction causality between key variables, within context autoregressive distributed lag (ARDL) estimation technique granger framework. study utilizes quarterly data spanning period 2000:Q1 2019:Q1. bound test result confirms existence cointegration. long run reveals that real effective exchange rate, corruption external debt are main Leone. Specifically, finding indicates high level accumulation cause an increase flight. Furthermore, lagged flight, corruption, financial deepening drivers short run. Whilst a well-developed system reduce asserts any disequilibrium model corrected at 26% adjustment speed annually. diagnostic coefficients stable, given CUSUM CUSUMSQ lie critical band. results reveal that, exhibits bi-directional causality. However, both inflation rate demonstrate uni-directional causality, these variables with no feedback effect. therefore urges Government take measures strengthen Anti-corruption Commission judiciary view intensify fight against Also, government should put place modalities ensure strict controls, deepen market maintain broad macroeconomic stability as recipe
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ژورنال
عنوان ژورنال: International Journal of Economics and Financial Issues
سال: 2021
ISSN: ['2146-4138']
DOI: https://doi.org/10.32479/ijefi.11271