Skip to main content
Article thumbnail
Location of Repository

Capital flight from the countries in transition: Some empirical evidence

By Nathan Sheets

Abstract

This paper presents empirical evidence suggesting that the transition economies have tended to experience capital flight during periods of macroeconomic instability, such as high inflation and sharply declining output. The timing of these outflows, however, has differed somewhat across countries. Poland and Czechoslovakia experienced significant capital flight early in the transition process, but as reforms have progressed, capital outflows have slowed. By contrast, Russia registered a relatively steady flow of capital flight from 1991-94, with cumulative outflows totalling about $40 billion. Finally, capital flight from Hungary has been subdued, paralleling the gradual course of economic reforms and the country's comparative political stability.Capital Flight, Countries in Transition, Short-term Capital Flows, Foreign Direct Investment,

DOI identifier: 10.1080/13841289608523364
OAI identifier:
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://www.tandfonline.com/doi... (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.