8th Global Conference on Business & Economics ISBN : 978-0-9742114-5-9 ECONOMETRIC ANALYSIS OF CAPITAL FLIGHT IN DEVELOPING COUNTRIES: A STUDY OF NIGERIA Folorunso S. Ayadi Department of Economics, University of Lagos, Lagos, Nigeria. Tel.: (0)802-853-0208 [country code: 234] E-Mail: [email protected]Acknowledgement: I am most grateful to the pioneer authors in the area of capital flight. Without their initial efforts, this study would have been a very difficult one. I am also grateful to my wife for her encouragement. I also wish to thank Prof. O. F. Ayadi for his encouragement. Last but not the least, I must commend the efforts of the organizers of the 8 th GCBE, especially Prof. Atul Gupta for a job well done. All errors and omissions are entirely mine. Thanks. October 18-19th, 2008 Florence, Italy 1