This dissertation examines the phenomenon of capital flight from the Third World in general, and from four Caribbean countries in particular. The four countries are: Barbados, Jamaica, Guyana, and Trinidad and Tobago. A critical appraisal of definitions, measures, and determinants of capital flight is presented. An econometric model is developed, and the consequences of capital flight for the case study countries are examined. I present estimates of capital flight and carry out a detailed analysis of trade misinvoicing. I argue that capital flight from the Caribbean is caused by a number of factors including external debt, real interest rate differential with the United States, and political instability. I further show that capital flight decreases domestic investment and erodes the tax base of these countries.
| Identifer | oai:union.ndltd.org:UMASS/oai:scholarworks.umass.edu:dissertations-8109 |
| Date | 01 January 1991 |
| Creators | Henry, Lester |
| Publisher | ScholarWorks@UMass Amherst |
| Source Sets | University of Massachusetts, Amherst |
| Language | English |
| Detected Language | English |
| Type | text |
| Source | Doctoral Dissertations Available from Proquest |
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