eprintid: 2617
rev_number: 7
eprint_status: archive
userid: 564
dir: disk0/00/00/26/17
datestamp: 2014-05-14 12:19:18
lastmod: 2014-05-14 12:19:18
status_changed: 2014-05-14 12:19:18
type: article
metadata_visibility: show
creators_name: Adetiloye, K. A.
creators_id: kehinde.adetiloye@covenantuniversity.edu.ng
title: Capital Flight and Financial Globalisation: Will Further
Opening up Increase Capital Flight out of Nigeria?
ispublished: pub
subjects: HF
subjects: HG
divisions: sch_man
full_text_status: public
keywords: Kaopen, capital account liberalisation, external assets, domestic investment, exchange rate, Nigeria.
abstract: Capital flight is a challenge to many emerging economies especially those with yet to be perfect
financial structures and systems. This study undertakes a study of capital flight as it applies to the Nigerian
environment in the face of the current episodes of financial globalisation and capital outflows out of the
economy. It adopts paired sample and the ordinary least square techniques with the main variables of exchange
rates, Kaopen, investment and others to perform its analyses. The main finding is that the Nigerian capital
flight has not been significantly increased by the financial globalisation process but it also indicates that
Kaopen (an index of financial globalisation) is significant in the process of acquisition of external assets and
might therefore, jeopardise the country's ability to retain capital within the economy for development purposes.
Exchange rates and domestic investment show significance and thus are impacted by the process. The study
recommends the improvement in the domestic investment variables and a cleaner float of the currency to retain
capital and improve the environment so that Nigeria can reap the benefits associated with the process of
fmancial globalisation.
date: 2011
date_type: published
publication: International Business Management
volume: 5
number: 6
publisher: Medwell Journals
pagerange: 349-356
refereed: TRUE
issn: 1993-5250
citation:   Adetiloye, K. A.  (2011) Capital Flight and Financial Globalisation: Will Further Opening up Increase Capital Flight out of Nigeria?  International Business Management, 5 (6).  pp. 349-356.  ISSN 1993-5250     
document_url: http://eprints.covenantuniversity.edu.ng/2617/1/Dr.%20Adetiloye%20K.%208.pdf