Abstract The study examines the use of governance tools to fight capital flight by reducing the capital flight trap. Two overarching policy syndromes are addressed in the study. It first assesses whether governance is an effective deterrent to the capital flight trap in Africa, before examining what thresholds of government quality are required to fight the capital flight trap in the continent. The following findings are established. Evidence of a capital flight trap is apparent because past values of capital flight have a positive effect on future values of capital flight. The net effects from interactions of the capital flight trap with political stability, regulation quality, economic governance and corruption-control on capital flight are positive. The critical masses at which ‘voice and accountability’ and regulation quality can complement the capital flight trap to reduce capital flight are respectively, 0.120 and 0.680, which correspond to the best performing countries. Policy implications are discussed.

中文翻译：

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非洲的治理与资本外逃陷阱

摘要研究探讨了使用治理工具通过减少资本外逃陷阱来对抗资本外逃。该研究解决了两个总体政策综合症。它首先评估了治理是否对非洲的资本外逃陷阱起到了有效的威慑作用，然后研究了与非洲大陆的资本外逃陷阱作斗争所需的政府质量门槛。建立了以下发现。资本外逃陷阱的证据是显而易见的，因为过去的资本外逃价值对未来的资本外逃价值产生积极影响。资本外逃陷阱与政治稳定，监管质量，经济治理和腐败控制的相互作用对资本外逃产生的净影响是积极的。“声音和问责制”和监管质量可以补充资本外逃陷阱以减少资本外逃的临界质量分别是0.120和0.680，与表现最佳的国家相对应。讨论了政策含义。