英文文献：Fighting Capital Flight in Africa: Evidence from Bundling and Unbundling Governance-对抗非洲资本外逃:来自捆绑和分开捆绑治理的证据
英文文献作者：Simplice Asongu,Jacinta Nwachukwu
英文文献摘要：
This study investigates the effect of governance on capital flight by bundling and unbundling governance. The empirical evidence is based on 37 African countries for the period 1996-2010 and the Generalised Method of Moments. Governance is bundled by principal component analysis, namely: (i) political governance from political stability and ‘voice and accountability’; (ii) economic governance from government effectiveness and regulation quality and (iii) institutional governance from corruption-control and the rule of law. The following findings are established. (i) Political stability and ‘voice and accountability’ reduce capital flight while the collective effect of political governance is not significant. (ii) Economic governance increases capital flight whereas the individual effects of regulation quality and government effectiveness are not significant. (iii) Corruption-control and institutional governance negatively affect capital flight whereas the impact of the rule of law is not significant. (iv) Taken together, Corruption-control is the most effective governance weapon in the fight against capital flight. (v) Priority in the Washington Consensus is more effective at fighting capital flight compared to the Beijing Model. Policy implications are discussed.

本研究通过捆绑和拆分治理的方法考察了治理对资本外逃的影响。经验证据是根据1996-2010年期间37个非洲国家和矩的一般方法得出的。治理被主成分分析捆绑在一起，即:(i)政治治理来自政治稳定和“声音和问责”;(二)从政府效能和监管质量看经济治理;(三)从治理腐败和法治看制度治理。下面的发现是确定的。(一)政治稳定和“话语权和问责制”减少了资本外逃，而政治治理的集体效应并不显著。(二)经济治理增加了资本外逃，而监管质量和政府效能的个体效应不显著。(三)腐败控制和制度治理对资本外逃有负面影响，而法治的影响不显著。(四)综上所述，控制腐败是打击资本外逃的最有效治理武器。(v)与北京模式相比，华盛顿共识中的优先事项在对抗资本外逃方面更为有效。讨论了政策含义。