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http://ssrn.com/abstract=882343
 
 

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An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa


S. Ibi Ajayi


University of Ibadan - Department of Economics; Fonds Monetaire International

June 1997

IMF Working Paper No. 97/68

Abstract:     
The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.

Number of Pages in PDF File: 62

JEL Classification: B41, F32, F34

working papers series


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Date posted: February 15, 2006  

Suggested Citation

Ajayi, S. Ibi, An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa (June 1997). IMF Working Paper, Vol. , pp. 1-62, 1997. Available at SSRN: http://ssrn.com/abstract=882343

Contact Information

S. Ibi Ajayi (Contact Author)
University of Ibadan - Department of Economics ( email )
Ibadan
Nigeria
234-2-2410089 (Phone)
234-2-2410089 (Fax)
Fonds Monetaire International ( email )
700 19th Street NW
Washington, DC 20431
United States
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