查看文章

This study aims to fill the observed gap in the literature related to capital flight and its determinants. Following this observation, the main objective of the current effort is to unravel the potential influence of global economic policy uncertainties and exchange rate deviations on capital flight. Annual time series data between 1970 and 2015 were used for empirical investigations through the application of the newly introduced quantile autoregressive distributed lag model. Following this extensive investigation, the following evidence emerged. A long-run relationship exists between global economic uncertainties, exchange rate volatilities, and capital flight in Nigeria. Second, we discover that the effects of exchange rate volatility and global uncertainty are sensitive to different quantiles of capital flight distributions. Third, capital flight shows strong evidence of hysteresis in all quantiles. This makes capital flight a systemic …