However, recent data which suggest that capital flight has continued to grow unabated even in recent years, where fiscal deficits and macroeconomic volatility  BIS Review 126/2007  3  have been jugulated, suggesting that there may be other determining factors, particularly, corruption and poor governance.
Let me illustrate this point further by taking you all the way to the America, to Haiti, the first Black Republic in the world. Prior to its independence in 1804, William Pitt, the UK Prime Minister, referred to Haiti as the “Eden of the Western World” for its wealth and production.