Illicit Financial Flows from Developing Countries ... - culturaRSC.com

narrowed followed by some widening in 2010 as licit outflows picked up along with the paceof economic activity. Outflows of licit capital fell in 2009 because economic agents retainedmore capital domestically due to the financial squeeze resulting from the crisis and the factthat major capital markets in the United States and Europe were in turmoil.Table B. Four Estimates of Capital Flight, All Developing Countries, 2001-2010(in billions of U.S. dollars)Non-normalized IFFs (CED+GER) 1/Region/Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Cumulative Average LogarithmicAfrica 24.1 25.0 33.2 41.6 37.4 53.7 85.3 101.9 76.3 86.1 564.6 56.5 18.08Asia 225.5 216.1 273.4 345.6 425.0 497.6 535.6 608.9 423.1 584.0 4,134.9 413.5 12.03Developing Europe 72.3 64.4 104.1 128.7 104.9 141.0 253.0 329.2 111.7 126.3 1,435.6 143.6 10.83MENA 55.8 37.8 89.6 133.0 157.7 218.3 283.4 305.9 186.6 178.4 1,646.4 164.6 20.21Western Hemisphere 99.5 98.7 116.7 120.0 128.7 135.7 189.6 213.8 138.5 163.1 1,404.2 140.4 7.07All Developing Countries 477.1 441.9 617.0 768.9 853.7 1,046.2 1,346.9 1,559.8 936.1 1,138.0 9,185.7 918.6 12.61Normalized IFFs (CED+GER) 1/Region/Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Cumulative Average LogarithmicAfrica 9.6 16.0 28.1 33.3 31.7 48.3 77.5 93.9 72.3 63.0 473.6 47.4 24.73Asia 221.4 192.5 253.7 331.5 395.0 383.5 424.4 513.6 388.8 490.6 3,595.0 359.5 10.40Developing Europe 67.3 56.0 92.3 109.5 91.0 134.4 242.2 314.5 80.4 43.3 1,230.9 123.1 4.63MENA 49.9 32.6 84.7 128.6 151.5 210.1 218.1 288.8 175.0 158.0 1,497.3 149.7 20.07Western Hemisphere 81.1 93.9 108.7 97.3 110.8 125.1 154.8 149.9 127.1 137.0 1,185.7 118.6 6.22All Developing Countries 429.3 391.0 567.5 700.3 780.0 901.3 1,117.1 1,360.7 843.6 891.9 7,982.5 798.3 11.45Revised IFFs (HMN+GER Non-normalized) 2/Region/Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Cumulative Average LogarithmicAfrica 11.1 8.8 9.9 17.9 35.5 46.5 59.1 74.4 70.5 51.1 384.8 38.5 29.15Asia 177.8 193.0 244.2 332.9 387.9 384.6 418.8 478.3 415.5 535.7 3,568.8 356.9 12.43Developing Europe 41.1 23.5 32.4 39.4 29.4 19.4 44.2 56.7 46.5 73.7 406.3 40.6 8.03MENA 33.2 8.0 7.3 22.1 63.7 55.6 41.1 140.7 141.3 89.2 602.3 60.2 31.74Western Hemisphere 67.2 66.4 65.3 77.6 98.5 82.7 106.7 121.1 102.1 109.3 896.9 89.7 7.06All Developing Countries 330.5 299.8 359.0 490.0 615.1 588.7 669.9 871.3 776.0 858.8 5,859.2 585.9 13.28Revised IFFs (HMN+GER Normalized) 2/Region/Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Cumulative Average LogarithmicAfrica 7.5 7.1 9.3 11.7 30.0 44.0 51.9 70.1 69.2 41.5 342.3 34.2 32.38Asia 175.2 189.9 241.9 328.8 379.1 368.0 409.2 461.9 398.2 523.1 3,475.4 347.5 12.13Developing Europe 39.2 18.9 25.7 23.5 27.1 18.5 36.6 49.7 28.6 30.2 297.8 29.8 2.94MENA 28.1 6.7 5.5 20.4 61.1 53.0 38.5 129.5 134.6 82.2 559.6 56.0 34.01Western Hemisphere 62.3 62.0 62.4 71.0 91.6 78.8 95.9 97.7 91.6 106.1 819.4 81.9 6.59All Developing Countries 312.3 284.5 344.7 455.5 588.9 562.3 632.0 809.0 722.1 783.2 5,494.6 549.5 12.881/ Estimates include both licit as well as illicit financial flows. Estimates updated from 2011 IFF Update.2/ Estimates pertain to illicit financial flows.6 Global Financial Integrity