Africa's odious debts : how foreign loans and capital flight bled a continent

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African Economic Outlook 2012 (2012, methodology): “For every dollar of Africa’s external debt, more than 50 cents leave the country the same year in the form of capital flight (Ndikumana and Boyce, 2011).”
Capital Flight from Sub-Saharan African Countries: Updated Estimates, 1970-2010 (2012, background): “The timing of the upswing of these flows coincides with the escalation of capital flight, illustrating the close relationship between external borrowing and capital flight, or ‘revolving door,’ which we have documented in earlier studies (Ndikumana and Boyce 2003, 2011a, 2011b).”