Fighting African capital flight: trajectories, dynamics, and tendencies

Financial Innovation

Table 1 Summary of results on Absolute and Conditional Convergences

	Income Levels				Legal Origins		Religious Dom.		Regions		Resources		Stability		Africa
	UMI	LMI	MI	LI	English	French	Christ.	Islam	SSA	NA	Oil	Non-oil	Conflict	Non-co.
Panel A: Absolute Convergence with Specifications in Table 2
Absolute C (AC)	Yes	No	Yes	Yes	Yes	Yes	Yes	No	Yes	Yes	Yes	Yes	Yes	No	Yes
% of A.C	2%	n.a	2%	33.10%	33.05%	12.50%	33.05%	n.a	33.05%	17.70%	15.55%	33.05%	33.11%	n.a	33.05%
Years to A. C	100Yrs	n.a	100Yrs	6.04Yrs	6.05Yrs	16Yrs	6.05Yrs	n.a	6.05Yrs	11.2Yrs	12.8Yrs	6.05Yrs	6.04Yrs	n.a	6.05Yrs
Panel B: Conditional Convergence with Specifications in Table 3
Conditional C (CC)	No	No	No	No	No	No	No	No	Yes	No	No	Yes	No	No	No
% of C.C	n.a	n.a	n.a	n.a	n.a	n.a	n.a	n.a	11.10%	n.a	n.a	11.25%	n.a	n.a	n.a
Years to C. C	n.a	n.a	n.a	n.a	n.a	n.a	n.a	n.a	18.1Yr	n.a	n.a	17.7Yrs	n.a	n.a	n.a
Panel C: Conditional Convergence with Specifications in Table 4
Conditional C (CC)	Yes	No	No	Yes	No	Yes	Yes	No	Yes	No	Yes	No	Yes	Yes	Yes
% of C.C	16.6%	n.a	n.a	20.05%	n.a	16.40%	16.40%	n.a	16.55%	n.a	15.65%	n.a	29.75%	16.88%	16.50%
Years to C. C	12Yrs	n.a	n.a	9.97Yrs	n.a	12.1Yrs	12.1Yrs	n.a	12Yrs	n.a	12.7Yrs	n.a	6.72Yrs	11.8Yrs	12.1Yrs

AC Absolute Convergence, CC Conditional Convergence, Yrs Years, UMI Upper Middle Income, LMI Lower Middle Income, MI Middle Income, LI Low Income, English English Common-law, French French Civil-law, Christ Christianity dominated countries, Islam Islam dominated countries, SSA Sub-Saharan Africa, NA North Africa. Oil: Petroleum exporting countries. Non-oil: Countries with no significant exports in petroleum. Conflict: Countries with significant political instability. Non-co: Countries without significant political instability. Dom: Domination