GSSR - Global Social Sciences Review

AN EMPIRICAL ANALYSIS OF THE FINANCIAL REVOLVING DOOR HYPOTHESIS AN EVIDENCE FROM PAKISTAN

http://dx.doi.org/10.31703/gssr.2023(VIII-I).17 10.31703/gssr.2023(VIII-I).17
Authored by : Faizan Ali , Faran Ali , Asima Ihsan

17 Pages : 180-192

References

Alesina, A., & Tabellini, G. (1989). External debt, capital flight and political risk. Journal of International Economics, 27(3), 199-220. https://doi.org/10.1016/0022-1996(89)90052-4
Alfaro, L., Kalemli-Ozcan, S., & Volosovych, V. (2007). Capital flows in a globalized world: The role of policies and institutions. In Capital controls and capital flows in emerging economies: Policies, practices, and consequences (19-72). University of Chicago Press.
Bakare, A. S. (2011). A theoretical analysis of capital formation and growth in Nigeria. Far East Journal of Psychology and Business, 3(2), 11-24. http://www.fareastjournals.com/files/FEJPBV3N1P2.pdf
Boyce, J. K. (1992). The revolving door? External debt and capital flight: A Philippine case study. World Development, 20(3), 335-349. https://doi.org/10.1016/0305-750X(92)90028-T
Boyce, J. K., & Ndikumana, L. (2001). Is Africa a net creditor? New estimates of capital flight from severely indebted sub-Saharan African countries, 1970-96. Journal of Development Studies, 38(2), 27-56. https://doi.org/10.1080/00220380412331322261
Boyce, J. K., & Ndikumana, L. (2011). Africa's odious debts: how foreign loans and capital flight bled a continent. Zed Books.
Brada, J. C., Kutan, A. M., & VukÅ¡iÄ‡, G. (2013). Capital Flight in the Presence of Domestic Borrowing: Evidence from Eastern European Economies. World Development, 51, 32-46. https://doi.org/10.1016/j.worlddev.2013.05.007
Cerra, V., Rishi, M., & Saxena, S. C. (2008). Robbing the riches: capital flight, institutions and debt. The Journal of Development Studies, 44(8), 1190-1213. https://doi.org/10.1080/00220380802242453
Chipalkatti, N., & Rishi, M. (2001). External debt and capital flight in the Indian economy. Oxford Development Studies, 29(1), 31-44. https://doi.org/10.1080/13600810124596
Demir, F. (2004). A failure story: Politics and financial liberalization in Turkey, revisiting the revolving door hypothesis. World Development, 32(5), 851-869. https://doi.org/10.1016/j.worlddev.2003.11.007
Dooley, M. P., & Kletzer, K. M. (1994). Capital flight, external debt and domestic policies (No. w4793). National Bureau of Economic Research.
Epstein, G. A. (Ed.). (2005). Financialization and the world economy. Edward Elgar Publishing.
Griffith-Jones, S., Montes, M. F., & Nasution, A. (Eds.). (2001). Short-term capital flows and economic crises. OUP Oxford.
International Monetary Fund. (2022). Direction of Trade Statistics. CD-ROM edition.
International Monetary Fund. (2022). International Financial Statistics. CD-ROM edition.
Le Q. V., & Rishi, M. (2006). Corruption and capital flight: An empirical assessment. International Economic Journal, 20(4), 523-540. https://doi.org/10.1080/10168730601027161
Le Q. V., & Zak, P. J. (2006). Political risk and capital flight. Journal of International Money and Finance, 25(2), 308-329. https://doi.org/10.1016/j.jimonfin.2005.11.001
Lessard, D. R., & Williamson, J. (1987). Capital flight and the third world debt. Institute for International Economics.
McKinnon, R. I. (1991). Financial control in the transition from classical socialism to a market economy. Journal of Economic Perspectives, 5(4), 107-122. https://doi.org/10.1257/jep.5.4.107
Montes, M. F. (1998). The currency crisis in Southeast Asia (Vol. 218, No. 2114). Institute of Southeast Asian Studies.
Ndikumana, L., & Boyce, J. K. (2003). Public debts and private assets: explaining capital flight from Sub-Saharan African countries. World Development, 31(1), 107-130. https://doi.org/10.1016/S0305-750X(02)00181-X
Otieno, S., Mose, N., & Thomi, J. (2022). Exchange Rate and Capital Flight: An Empirical Analysis. South Asian Journal of Social Studies and Economics, 13(3), 1-10. https://ssrn.com/abstract=4059246
Pincus, J., & Ramli, R. (2004). Deepening or hollowing out: Financial liberalization, accumulation and Indonesiaâ€™s economic crisis. After The Storm: Crises, Recovery And Sustaining Development Ä°n Four Asian Economies, 116-149.
Tornell, A., & Velasco, A. (1992). The tragedy of the commons and economic growth: why does capital flow from poor to rich countries?. Journal of Political Economy, 100(6), 1208-1231. https://www.jstor.org/stable/2138831

References

Alesina, A., & Tabellini, G. (1989). External debt, capital flight and political risk. Journal of International Economics, 27(3), 199-220. https://doi.org/10.1016/0022-1996(89)90052-4
Alfaro, L., Kalemli-Ozcan, S., & Volosovych, V. (2007). Capital flows in a globalized world: The role of policies and institutions. In Capital controls and capital flows in emerging economies: Policies, practices, and consequences (19-72). University of Chicago Press.
Bakare, A. S. (2011). A theoretical analysis of capital formation and growth in Nigeria. Far East Journal of Psychology and Business, 3(2), 11-24. http://www.fareastjournals.com/files/FEJPBV3N1P2.pdf
Boyce, J. K. (1992). The revolving door? External debt and capital flight: A Philippine case study. World Development, 20(3), 335-349. https://doi.org/10.1016/0305-750X(92)90028-T
Boyce, J. K., & Ndikumana, L. (2001). Is Africa a net creditor? New estimates of capital flight from severely indebted sub-Saharan African countries, 1970-96. Journal of Development Studies, 38(2), 27-56. https://doi.org/10.1080/00220380412331322261
Boyce, J. K., & Ndikumana, L. (2011). Africa's odious debts: how foreign loans and capital flight bled a continent. Zed Books.
Brada, J. C., Kutan, A. M., & VukÅ¡iÄ‡, G. (2013). Capital Flight in the Presence of Domestic Borrowing: Evidence from Eastern European Economies. World Development, 51, 32-46. https://doi.org/10.1016/j.worlddev.2013.05.007
Cerra, V., Rishi, M., & Saxena, S. C. (2008). Robbing the riches: capital flight, institutions and debt. The Journal of Development Studies, 44(8), 1190-1213. https://doi.org/10.1080/00220380802242453
Chipalkatti, N., & Rishi, M. (2001). External debt and capital flight in the Indian economy. Oxford Development Studies, 29(1), 31-44. https://doi.org/10.1080/13600810124596
Demir, F. (2004). A failure story: Politics and financial liberalization in Turkey, revisiting the revolving door hypothesis. World Development, 32(5), 851-869. https://doi.org/10.1016/j.worlddev.2003.11.007
Dooley, M. P., & Kletzer, K. M. (1994). Capital flight, external debt and domestic policies (No. w4793). National Bureau of Economic Research.
Epstein, G. A. (Ed.). (2005). Financialization and the world economy. Edward Elgar Publishing.
Griffith-Jones, S., Montes, M. F., & Nasution, A. (Eds.). (2001). Short-term capital flows and economic crises. OUP Oxford.
International Monetary Fund. (2022). Direction of Trade Statistics. CD-ROM edition.
International Monetary Fund. (2022). International Financial Statistics. CD-ROM edition.
Le Q. V., & Rishi, M. (2006). Corruption and capital flight: An empirical assessment. International Economic Journal, 20(4), 523-540. https://doi.org/10.1080/10168730601027161
Le Q. V., & Zak, P. J. (2006). Political risk and capital flight. Journal of International Money and Finance, 25(2), 308-329. https://doi.org/10.1016/j.jimonfin.2005.11.001
Lessard, D. R., & Williamson, J. (1987). Capital flight and the third world debt. Institute for International Economics.
McKinnon, R. I. (1991). Financial control in the transition from classical socialism to a market economy. Journal of Economic Perspectives, 5(4), 107-122. https://doi.org/10.1257/jep.5.4.107
Montes, M. F. (1998). The currency crisis in Southeast Asia (Vol. 218, No. 2114). Institute of Southeast Asian Studies.
Ndikumana, L., & Boyce, J. K. (2003). Public debts and private assets: explaining capital flight from Sub-Saharan African countries. World Development, 31(1), 107-130. https://doi.org/10.1016/S0305-750X(02)00181-X
Otieno, S., Mose, N., & Thomi, J. (2022). Exchange Rate and Capital Flight: An Empirical Analysis. South Asian Journal of Social Studies and Economics, 13(3), 1-10. https://ssrn.com/abstract=4059246
Pincus, J., & Ramli, R. (2004). Deepening or hollowing out: Financial liberalization, accumulation and Indonesiaâ€™s economic crisis. After The Storm: Crises, Recovery And Sustaining Development Ä°n Four Asian Economies, 116-149.
Tornell, A., & Velasco, A. (1992). The tragedy of the commons and economic growth: why does capital flow from poor to rich countries?. Journal of Political Economy, 100(6), 1208-1231. https://www.jstor.org/stable/2138831