Estimates of Trade Mis-invoicing and Their Macroeconomic Outcomes for the Indian Economy
This paper has two main objectives. First, it computes capital flight (CF) through trade mis-invoicing from India for the period 1988-2012. India�s trade with 17 major trading partners is considered. We find that CF has accelerated since 2004 and particularly sharply since 2007. It peaked at nearly $40 billion in 2008 with the total outflow between 1988 and 2012 exceeding $186 billion. Second, we model the mutual dependence of GDP growth, CF, and various risk factors in a VAR framework. We find...[Show more]
|Collections||ANU Research Publications|
|Source:||Review of Economics and Finance|
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