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Resources Lost… Resource (To Be) Regained? Some Consequences of Capital Flight in the Philippines

By Edsel L. Beja, Jr. | October 10, 2005

ABSTRACT: We present estimates of the economic cost of capital flight in the Philippines. If capital flight had been controlled or restricted, the Philippines would have had more robust economic performance and generated more jobs. But there are also nontangible impacts of capital flight, and so, the estimates presented are indicative of the full impact capital flight on the economy. For example, we argue that sustained capital flight between 1970 and 2002 meant that the Philippines lost the opportunity in becoming a Southeast Asian ‘economic tiger’.

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Read More: Economy, Finance, Jobs, Philippines, Asia

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