One of the mysteries of the English language finally explained.
Money transferred abroad to avoid taxes or inflation, achieve better investment returns, or to provide for possible emigration.
- ‘Many conservative and often isolationist members of Congress seized on the idea of assisting European efforts to track flight capital as a way to reduce the cost of the aid program to U.S. taxpayers.’
- ‘Existing flight capital abroad also might be mobilized either by the country experiencing the crisis or by the international community.’
- ‘One issue, however, has been strikingly absent from the public debates: the regulation of the flow of private flight capital from poorer to richer countries.’
- ‘The possibility of using the anti-money-laundering regulations to curtail flight capital has also begun to appear in the context of the growing U.S. interest in cracking down on government corruption in poorer countries.’
- ‘When they encountered difficulties controlling this flight capital unilaterally, many European governments turned to the United States for assistance.’
- ‘As we saw in 1947-48, the greatest support for the proposal to help European governments track down flight capital in the United States came from Republican congressmen who were wary of extending aid to western Europe.’
- ‘Other elements of illegal flight capital would produce much higher figures.’
- ‘Although the proposal to use international cooperation to regulate flight capital has rarely been implemented, it is an idea whose time may finally have come for several reasons.’
- ‘Third, the existence of this kind of procedure at the international level might discourage flight capital in the future.’
- ‘‘Based on my research as a Fulbright scholar, I concluded that they have transferred some *7 billion in flight capital out of the country in the past 13 years’, he wrote.’
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