This book offers a comprehensive analysis of economic crimes and market ‘irregularities’, including matters of trickery, parallel economy, illicit trade, economies of violence and criminalisation of the poor in neoliberal Africa. It investigates economic crime as a phenomenon of neoliberal reform and transformation, and it unpacks crime as a societal – and particularly as a political-economic – phenomenon under capitalism. The book brings together a collection of research articles, briefings and updated blog posts that were published over a period of nearly 40 years (1986–2023), in the acclaimed journal Review of African Political Economy (ROAPE) and on its website roape.net. Featuring contributions from leading experts in the field, including a foreword by Yusuf K. Serunkuma and an afterword by Laureen Snider, this volume explores what these crimes have to do with, and can tell us about, state-business relations, regulation, capitalist transformation, and the corporation on the continent, shedding light on the co-production of the crimes by a range of actors from the realms of business, politics, state and international development, including major reform advocates such as international financial institutions (IFIs) and other donors. It responds to the imperative to advance the analysis of the link between capitalism and crime in Africa and to locate capitalism more centrally in the analysis of economic crimes, as more African countries move from being societies with capitalism to capitalist societies. Illustrating the relevance of African countries to debates in criminology, corporate crime, state crime, crimes of the powerful and illegality, this volume engages with and mobilises a variety of literatures to analyse economic crimes as phenomena of global and local capitalism and provides readers from academia, government, business, media, civil society and education a striking source of information and analysis.

This book is an updated and reworked version of the thesis which was submitted in fulfilment of the requirements for the degree Doctor of Laws (LLD) in the Faculty of Law, University of Pretoria.

A popular myth about the travails of Africa holds that the continent's long history of poor economic performance reflects the inability of its leaders and policymakers to fulfill the long list of preconditions to be met before sustained growth can be achieved. These conditions are said to vary from the necessary quantity and quality of physical and human capital to the appropriate institutions and business environments. While intellectually charming and often elegantly formulated, that conventional wisdom is actually contradicted by historical evidence and common sense. It also suggests a form of intellectual mimicry that posits a unique path to prosperity for all countries regardless of their level of development and economic structure. In fact, the argument underlining that reasoning is tautological, and the policy prescriptions derived from it are fatally teleological: low-income countries are by definition those where such ingredients are missing. None of today's high-income countries started its growth process with the "required" and complete list of growth ingredients. Unless one truly believes that the continent of Africa-and most developing countries-are ruled predominantly if not exclusively by plutocrats with a high propensity for sadomasochism, the conventional view must be re-examined, debated, and questioned. This volume-the second of the lOxford Handbook of Africa and Economics-reassesses the economic policies and practices observed across the continent since independence. It offers a collection of analyses by some of the leading economists and development thinkers of our time, and reflects a wide range of perspectives and viewpoints. Africa's emergence as a potential economic powerhouse in the years and decades ahead amply justifies the scope and ambition of the book.

A comprehensive thematic analysis of capital flight from Africa, it covers the role of safe havens, offshore financial centres, and banking secrecy in facilitating illicit financial flows and provides rich insights to policy makers interested in designing strategies to address the problems of capital flight and illicit financial flows.

This book presents a re-engagement with oral histories as a way of documenting, understanding, and discussing experiences of work and economic life in Africa under neoliberal capitalism. It draws on seven case studies in South Africa, Zimbabwe, Uganda, and South Sudan, from the late 1980s to the present, to offer a critical analysis of neoliberal transformations and realities at the incisive level of peoples’ biographies. The last few decades have witnessed unprecedented changes in the working lives of people across the African continent. Oral historical accounts of working lives can offer unique and productive insights into these changes by allowing analyses of neoliberalism that focuses on personal experiences over the longue durée. Yet, there has been a surprising dearth of oral histories of work since the emergence of neoliberalism in the 1980s. Compared to scholarship published more than half a century ago, there has been a decline in the use of oral histories to explore experiences of living and working under capitalism. By grounding analysis in biographical details, histories, and dynamics, the chapters in this book seek better understandings of the wider life contexts, challenges, and circumstances in which people’s ‘agency’ emerges, unfolds, gains traction, and gets (re)shaped; and a better grasp of the multiple, entangled layers and temporalities of life and work in capitalist Africa. This book will be indispensable to students and researchers interested in political economy, development studies, anthropology, sociology, history and African Studies. The chapters in this book were originally published as a special issue of Third World Thematics and are accompanied by a new Foreword and Afterword.

An effective capital markets industry has existed in South Africa for over 120 years. As recently as 2015, South Africa was considered the best regulator of securities in the world. The fall out from the GFC contained lessons for all markets, but not to the same extent. In the pursuit of G20 inspired conformity, aspects of the South African reform agenda may therefore appear replicative of initiatives in other jurisdictions and, consequently, uncritical in parts. In light of the fall to forty sixth place in the world in securities regulation ranking and some uncertainty in respect of the extent and shape of the reform process, C. King Chanetsa reviews activities in South Africa along the busy securities and capital markets value chain, and considers the continuing and emerging regulatory and supervisory framework.

Over the past decade, South Africa has attracted relatively little foreign direct investment (FDI), but considerable amounts of portfolio inflows. In this context, the objective of the paper is twofold: to identify the determinants of the level and composition of capital flows to emerging markets and to draw policy conclusions for South Africa. We estimate a dynamic panel for up to 81 emerging markets using GMM (Generalized Method of Moments) techniques. The results suggest that further trade and capital control liberalization would increase the share of FDI. Additionally, a reduction in exchange rate volatility would affect the composition of capital flows in favor of FDI.

On the Trail of Capital Flight from Africa investigates the dynamics of capital flight from Angola, Côte d'Ivoire, and South Africa, countries that have witnessed large-scale illicit financial outflows in recent decades. Quantitative, qualitative, and institutional analysis for each country is used to examine the modus operandi of capital flight; that is, the 'who', 'how', and 'where' dimensions of the phenomenon. 'Who' refers to major domestic and foreign players; 'how' refers to mechanisms of capital acquisition, transfer, and concealment; and 'where' refers to the destinations of capital flight and the transactions involved. The evidence reveals a complex network of actors and enablers involved in orchestrating and facilitating capital flight and the accumulation of private wealth in offshore secrecy jurisdictions. This underscores the reality that capital flight is a global phenomenon, and that measures to curtail it are a shared responsibility for Africa and the global community. Addressing the problem of capital flight and related issues such as trade misinvoicing, money laundering, tax evasion, and theft of public assets by political and economic elites will require national and global efforts with a high level of coordination.

Written for students of criminal justice, Comparative Criminal Justice Systems: Global and Local Perspectives examines the nature of crime and justice in varying countries and cultures in North America, Europe, Asia, Africa, and Latin America. Using a topical approach, it compares different systems of crime and justice in terms of their differences from, and similarities to, the laws and institutions of modern criminal justice, focusing on the United States as a standard of comparison. By examining different criminal justice systems in terms of their local peculiarities and understanding their change and continuity, readers will gain a well-rounded international perspective of the world's varying systems of criminal justice. Key Features: -Explores the rise of modern criminology and the criminal justice system in the nineteenth century. It is critical for students to understand the history of modern systems to fully comprehend the varying nature of today's main legal systems, focusing on the United States as a standard of comparison. -Employs a topical approach to examine the criminal justice systems in varying countries in Europe, Asia, Africa, and Latin America, including comparative views on law enforcement, judicial systems, corrections, due process of law, and search and seizures. -Includes discussions on comparative processes of criminalization and decriminalization on such issues as domestic violence, child abuse, homosexuality, and sexual harassment. -Discusses new global crimes and their impact on modern and traditional criminal justice systems, including human smuggling, global sex trade, global illegal drug trade, illegal trafficking of conventional military weapons, money laundering, cybercrime, and global terrorism. -Discussion questions ensure that student's grasp the core theoretical concepts.

In F/Ailing Capitalism and the Challenge of COVID-19, Noel Chellan argues that citizens needlessly died in capitalist countries. He contends that COVID-19 has exposed the harsh workings of capitalism, contrary to the ideologies upheld by mainstream economists. Some of the questions he asks are: Why were Chinese lives more important than American lives? Why were Vietnamese lives more important than British lives? Why were Cuban lives more important than South African lives? Why was the value of the grandparent that died in the US lower than the value of the grandparent that was saved in China? Why was the value of the healthcare worker that died in the UK lower than the value of the healthcare worker that was saved in China?