Capital Flight and Economic Growth: The Case of ECCAS, ECOWAS and SADC Countries.

The aim of this study is to make a comparative analysis of the effects of capital flight on economic growth in ECCAS, ECOWAS and SADC countries over the 1984-2015 period. The pooled mean groups (PMG) regression results show that the effect of capital flight on economic growth is negative and significant in SADC, unlike ECOWAS and ECCAS, where it is either positive or negative depending on whether or not the interaction between capital flight and private investment is taken into account. The main recommendation is to make the investment climate more attractive and promote the development of technological research, which could help minimize the outflow of capital in the long run. [ABSTRACT FROM AUTHOR]