Corruption et sorties illicites de capitaux dans les pays de l’Afrique subsaharienne: La démocratie compte-elle vraiment?

The objective of this paper is to analyze the effect of corruption on illicit capital outflows in Sub-Saharan African (SSA) countries. More specifically, we measured the direct effect of corruption on illicit capital flows on the one hand and analyzed the effect of democracy on the relationship between corruption and illicit capital flows on the other. The results obtained using the Generalized Method of Moments (GMM) on a panel of 36 sub-Saharan African countries over the period 2005 to 2013, show that corruption significantly increases illicit capital outflows. However, democracy helps mitigate the positive effect of corruption on illicit capital flight. In sum, aggressive anti-corruption policies and the promotion of democracy in SSA are likely to reduce illicit capital outflows