Africa is a source of large-scale capital flight. The purpose of this paper is to shed light on how banks facilitate capital flight from Africa. There is growing evidence that subsidiaries of the world’s major banks have been heavily involved in facilitating capital flight and money laundering. Banks and financial institutions therefore are an important piece of the puzzle to better understand the drivers of capital flight from Africa. Banks are also an important component in the development of more effective measures to curb the problem. The paper argues that to improve the regulation of the banking and finance sectors, there is a need for more detailed knowledge on how banks actually operate as facilitators and the mechanisms applied.
Long-term effects of the COVID-19 pandemic on domestic resource mobilisation in sub-Saharan Africa
Odd-Helge Fjeldstad, Anna Gopsill, Ingrid Hoem Sjursen and Ole Therkildsen
The colonial legacy of corruption among local elites in Africa
Merima Ali, Odd-Helge Fjeldstad and Abdulaziz Shifa
Understanding the resource curse: A large-scale experiment on corruption in Tanzania
Alexander Cappelen, Odd-Helge Fjeldstad, Donald Mmari, Ingrid Hoem Sjursen and Bertil Tungodden
Journal of Economic Behavior and Organization