Capital Flight and the Hollowing Out of the Philippine Economy in the Neoliberal Regime

• Main Author: Beja, Edsel L, Jr
• Format: text
• Published: Archīum Ateneo 2006
• Subjects: capital flight; external debt; revolving door; Philippine economy; Economics
• Online Access: https://archium.ateneo.edu/economics-faculty-pubs/117; https://journals.upd.edu.ph/index.php/kasarinlan/article/view/418
• Institution: Ateneo De Manila University

Capital flight is the movement of capital from a resource-scarce developing country to avoid social controls, measured as net unrecorded capital outflow. Capital flight from the Philippines was USD 16 billion in the 1970s, USD 36 billion in the 1980s, and USD 43 billion in the 1990s. Indeed these fi...