Capital flight and the uncertainty of government policies

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Abstract

This paper shows that policy uncertainty, measured by the uncertainty of budget deficits, tart payments, government consumption and the inflation rate, has a statistically significant positive impact on capital flight. This result remains robust after having applied stability tests. (C) 2001 Elsevier Science BN. All rights reserved.

Original languageEnglish
Pages (from-to)377-381
Number of pages5
JournalEconomics Letters
Volume71
Issue number3
Publication statusPublished - Jun-2001

Keywords

  • capital flight
  • uncertainty
  • macroeconomic policy

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