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Issues and Challenges in the Malaysian EconomyAn Analysis of Capital Flight Risk: Case for Human Capital in Inclusive Growth

Issues and Challenges in the Malaysian Economy: An Analysis of Capital Flight Risk: Case for... AN ANALYSIS OF CAPITAL FLIGHT RISK: CASE FOR HUMAN CAPITAL IN INCLUSIVE GROWTH Umar Abdul Basar 3.1 INTRODUCTION Capital flight was deeply debated by economists in the early 1980s when some countries experienced massive capital outflow compared to capital inflow into the countries. The disagreements in capital flight definition among economists lead to various measurement methods and policy implications to lessen capital flight effects (Lessard & Williamson, 1987). In fact, capital flight has large negative impact on the economy thus reducing the welfare level in a country. Most capital flight determinants were discussed and empirically tested in fundamental and institutional aspects. However, human capital theoretically can determine capital flight, hence human capital has positive impact on economy and institutions (Ismail, 2012). The Global Human Capital 31 32 Issues and Challenges in the Malaysian Economy Report (2017) found that human capital contributes to inclusive growth as measured through holistic methods include elements of capacity, development, deployment and know-how. Furthermore, Sarmidi et al. (2016) examined the impact of human capital on capital flight. They concluded that strong human capital will decrease capital flight level in a country. 3.2 CONCEPT OF CAPITAL FLIGHT Asimple definition of capital flight is capital outflows from http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Issues and Challenges in the Malaysian EconomyAn Analysis of Capital Flight Risk: Case for Human Capital in Inclusive Growth

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Publisher
Emerald Publishing Limited
Copyright
Copyright © Copyright © 2020 Emerald Publishing Limited Emerald Publishing Limited. All Rights Reserved.
ISBN
978-1-83867-482-3
Pages
31–14
DOI
10.1108/978-1-83867-479-320191003
Publisher site
See Chapter on Publisher Site

Abstract

AN ANALYSIS OF CAPITAL FLIGHT RISK: CASE FOR HUMAN CAPITAL IN INCLUSIVE GROWTH Umar Abdul Basar 3.1 INTRODUCTION Capital flight was deeply debated by economists in the early 1980s when some countries experienced massive capital outflow compared to capital inflow into the countries. The disagreements in capital flight definition among economists lead to various measurement methods and policy implications to lessen capital flight effects (Lessard & Williamson, 1987). In fact, capital flight has large negative impact on the economy thus reducing the welfare level in a country. Most capital flight determinants were discussed and empirically tested in fundamental and institutional aspects. However, human capital theoretically can determine capital flight, hence human capital has positive impact on economy and institutions (Ismail, 2012). The Global Human Capital 31 32 Issues and Challenges in the Malaysian Economy Report (2017) found that human capital contributes to inclusive growth as measured through holistic methods include elements of capacity, development, deployment and know-how. Furthermore, Sarmidi et al. (2016) examined the impact of human capital on capital flight. They concluded that strong human capital will decrease capital flight level in a country. 3.2 CONCEPT OF CAPITAL FLIGHT Asimple definition of capital flight is capital outflows from

Published: Nov 6, 2019

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