Contact
Email
Phone
Location
318 Gordon Hall

Education

  • Ph.D., Economics, Washington University, May 1996
  • M.A., Economics, Washington University, December 1992
  • B.A., Economics (with Distinction), University of Burundi, June 1986

Professional Experience

  • Distinguished Professor of Economics, University of Massachusetts at Amherst, 2011-present
  • Director, African Development Policy program, Political Economy Research Institute (PERI), 2011-present
  • Member of the United Nations Committee on Development Policy, 2013-2018
  • Member, Independent Commission on the Reform of International Corporate Taxation (ICRICT), 2015-present
  • Honorary Professor of Economics, University of Stellenbosch, South Africa, 2011-present
  • Honorary Professor of Economics at the University of Cape Town, South Africa, 2017-present
  • Director, Department of Operational Resources and Policy, African Development Bank, 1-8/2011
  • Director, Department of Development Economics Research, African Development Bank, 2008-2010
  • Chief, Macroeconomic Policy Analysis, United Nations Economic Commission for Africa (UNECA), 2006-2008
  • Associate Professor of Economics, University of Massachusetts, Amherst, 2002-2008
  • Assistant Professor of Economics, University of Massachusetts, Amherst, 1996-2002
  • Visiting Fulbright Associate Professor, University of Cape Town, Department of Economics, 2003-2004
  • Director of Finance and Administration, University of Burundi, 1989-1990
  • Junior Lecturer, Department of Economics, University of Burundi, 1987-1990

Research Interests

  • Capital flight from sub-Saharan Africa: magnitudes, causes, and consequences
  • Macroeconomic policies in African countries: fiscal, monetary, and exchange rate policies
  • Financial intermediation and real economic activity
  • Capital flows, capital account and exchange rate regimes in African countries
  • Economics and politics of conflicts and civil wars in Africa
  • Post-conflict reconstruction, state building, and development in African countries
  • Natural resources and domestic resource mobilization

Teaching

  • Macroeconomics, graduate and undergraduate
  • African economic development
  • Development Policy and International Cooperation
  • Money and Banking

Honors and Awards

  • Andrew Carnegie Fellow, 2021
  • Alumni Association Distinguished Faculty Award 2017
  • UMass Spotlight Scholar, 2013
  • UMass Award for Outstanding Accomplishments in Research and Creative Activity, 2013
  • Dudley Seers Memorial Prize for the best article in Volume 38 of the Journal of Development Studies (article co-authored with James. K. Boyce)
  • College Outstanding Teacher Award, 2001-2002
  • Nominee for Distinguished Teacher Award, 1999, 2004 and 2016/2017

Professional Activities

  • Associate Editor, Journal of African Development
  • African Finance and Economics Association, member and past President (2005-2007)
  • American Economic Association, member
  • African Studies Association, member
  • African Econometrics Society, former Committee member

Grants

  • Fulbright Scholarship (Teaching/Research), 2003-2004 (Host Institution: University of Cape Town, Department of Economics)

Affiliations

  • Member, Board of Director of Village Health Works (Burundi) (www.villagehealthworks.org)
  • African Economic Research Consortium, Resource Person
  • African Finance and Economics Association, member and past President (2005-2007)
  • American Economic Association, member
  • African Studies Association, member
  • African Econometrics Society, former Committee member

Selected Publications

  • Naidoo, K. and L. Ndikumana (2023). The role of unit labor costs in African manufacturing investment and export performance. Review of Development Economics, Volume 27, Issue 3
  • Ndikumana, L., K. Naidoo, and F. Perez (2023). Can National Development Banks Help Alleviate the Shortage of Patient Investment Capital in Africa? Evidence from Bank-Level Panel Data. Journal of African Development 24(1),1-42. 
  • Ndikumana, L., J.D. Nkurunziza, M.E. Sanchez Martin, S. Mulugeta, and Z. Getachew Kelbore (2022). Monetary, Fiscal, and Structural Drivers of Inflation in Ethiopia : New Empirical Evidence from Time Series Analysis. Development Policy Review 27(2): 924-962.
  • Pickbourn, L., R. Caraher, and L. Ndikumana (2022). Does project-level foreign aid increase access to improved water sources?  Evidence from household panel data in Uganda. World Development, 158. https://doi.org/10.1016/j.worlddev.2022.105994 
  • Ndikumana, L. and J.K. Boyce (2022). On the Trail of Capital Flight from Africa. The Takers and the Enablers. Oxford: Oxford University Press.
  • Erin Baker, Destenie Nock, Todd Levin, Samuel A. Atarah, Anthony Afful-Dadzie, David Dodoo-Arhin, Léonce  Ndikumana, Ekundayo Shittu, Edwin Muchapondwa, and Charles Van-Hein Sackey (2021). Who is marginalized in energy justice? Amplifying community perspectives of energy transitions in Ghana leader. Energy Research & Social Science, 73. https://authors.elsevier.com/sd/article/S2214-6296(21)00026-8
  • Wayoro, Didier and L. Ndikumana (2020). "Impact of Development Aid on Infant Mortality: Micro-level Evidence from Côte d’Ivoire", African Development Review, Vol 32, 432-445. (September 2020 advance online publication). http://dx.doi.org/10.1111/1467-8268.12450 
  • Ndikumana, L. and Mare Sarr (2019). Capital flight, foreign direct investment and natural resources in Africa. Resources Policy, Vol. 63 (October). Online access: https://doi.org/10.1016/j.resourpol.2019.101427
  • Pickbourn, L. and L. Ndikumana (2018). Does Health Aid Reduce Infant and Child Mortality from Diarrhea in sub-Saharan Africa? Journal of International Development 55(10): 2212-31.  https://doi.org/10.1080/00220388.2018.1536264).
  • Ndikumana, L. and J.K. Boyce, “Debt and Capital Flight,” in K.A. Reinert (Ed.) (2017), Handbook of Globalization and Development. Edward Elgar.
  • Ndikumana, L. and Pickbourn, L. (2017) "The Impact of Foreign Aid Allocation on Access to Social Services in sub-Saharan Africa: The Case of Water and Sanitation," World Development 90 (February): 1-04-114.
  • Ndikumana, L. (2016) "Implications of Monetary Policy for Credit and Investment in Sub-Saharan African Countries." Journal of African Development, 18 (2): 1-18.
  • Ndikumana, L. (2016). "The Role of Foreign Aid in Post‐Conflict Countries." in Arnim Langer and Graham K. Brown (Eds.) Building Sustainable Peace: Timing and Sequencing of Post-­‐Conflict Reconstruction and Peacebuilding. Oxford: Oxford University Press, Chapter 9.
  • Ndikumana, L. (2016) "Causes and Effects of Capital Flight from Africa: Lessons from Case Studies. "African Development Review, Vol. 28, No. S1, 2–7.
  • Pickbourn, L. and L. Ndikumana (2016) "Impact of sectoral allocation of foreign aid on gender equity and human development." Journal of International Development, 28, 396–411
  • Ndikumana, Léonce and Theresa Mannah-Blankson, "Financing Domestic Investment in African Countries: Does the Source of Financing Matter?" Journal of African Development Vol. 17, no. 2, 19-48.
  • Ndikumana, L. (2015) "Integrated Yet Marginalized: Implications of globalization for African Development." African Studies Review, 58 (2), 7-28.
  • Ndikumana, L. (2015) "International Tax Cooperation and Implications of Globalization." In Alonso, J.A. and J.A. Ocampo (Eds.) Global Governance and Rules for the Post-2015 Era (pp. 73-105). New York: Bloomsbury Academic.
  • Ndikumana, L. (2015). Savings, Capital Flight, and African Development. In Lin, J. Y. and Monga, C. (Eds.) Oxford Handbook of Africa and Economics, Volume 2 (Chapter 9). Oxford: Oxford University Press
  • Ndikumana, L. (2015) Better global governance for a stronger Africa: A new era, a new strategy. In Ernesto Zedillo (Ed.) Africa at a Fork in the Road: Taking Off or Disappointment Once Again? (pp. 315-330). Yale Center for the Study of Globalization (eBook edition).
  • Ajayi, S. I. and Ndikumana, L. (Eds.) (2015), Capital Flight from Africa: Causes, Effects and Policy Issues.  Oxford: Oxford University Press.
  • Ndikumana, L., Boyce, J. K. and Ndiaye, A. S. (2015). Capital Flight from Africa: Measurement and Drivers. In S. I. Ajayi and L. Ndikumana (Eds.), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford: Oxford University Press, 15-54.
  • Fofack, H. and Ndikumana, L. (2015). Capital flight and macroeconomic policy in Africa. In I. Ajayi and L. Ndikumana (Eds.), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford, UK: Oxford University Press, 130-163.
  • Boyce, J. K. and Ndikumana, L. (2015). Strategies for addressing capital flight. In S. I. Ajayi and L. Ndikumana (Eds.), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford: Oxford University Press, 393-417.
  • Ndikumana, L. (2014) "Capital Flight and Tax Havens: Impact on Investment and Growth in Africa." Revue d'Economie du Développement, 2014/2 (English Issue), 99-124.
  • Ndikumana, L. (2014) "Fuite des capitaux et paradis fiscaux: Impact sur l'investissement et la croissance en Afrique." Revue d'Economie du Développement, 2014/2, vol. 22, 113-141.
  • La Dette Odieuse d’Afrique : Comment l’endettement et la fuite des capitaux ont saigné un continent (co-authored with James K. Boyce), Dakar: Amalion Publishing, 2013.
  • AFRICA’S ODIOUS DEBT: How Foreign Loans and Capital Flight Bled a Continent. London: Zed Books. Co-authored with James K. Boyce, 2011.
  • "New Estimates of Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and Policy Options", co-authored with James K. Boyce. International Review of Applied Economics 25(2) 149-170, 2011.
  • "Measurement of Capital Flight: Methodology and Results for Sub-Saharan African Countries." African Development Review 22 (4), 471-481, 2010. co-authored with James K. Boyce.
  • "Africa’s counter-cyclical policy responses to the crisis." Journal of Globalization and Development (Symposium Edition), co-authored with Louis Kasekende and Zuzana Brixiova, Vol. 1(1), article 16, January 2010.
  • "Capital Flight Repatriation: Investigation of its Potential Gains for Sub-Saharan African Countries." Co-authored with Hypolite Fofack. African Development Review 22 (1), 4-22, 2010.
  • "The Linkages between FDI and Domestic Investment: Unravelling the Development Impact of Foreign Investment," co-authored with Sher Verick (UNECA), Development Policy Review 26 (6), 713-26, 2008.
  • "Can macroeconomic policy stimulate private investment in South Africa? New insights from aggregate and manufacturing sector-level evidence." Journal of International Development 20 (7), 869-87, 2008.
  • An Employment-Targeted Economic Program for South Africa. Northampton, MA: Edward Elgar Publishing. Co-authored with Robert Pollin, Gerald Epstein, and James Heinz, 2006.
  • "Distributional conflict, the state and peace building in Burundi." The Round Table, 2005, vol. 94 (381), 413-427.
  • "Financial development, financial structure, and domestic investment: International evidence." Journal of International Money and Finance, 2005, vol. 24 (4), 651-673.
  • "Additionality of Debt Relief and Debt Forgiveness, and Implications for Future Development Financing." International Review of Economics and Finance, 2004, vol. 13, 325-340.
  • "Financial markets and economic development in Africa." In: Emmanuel Nnadozie (Ed.) African Economic Development, Academic Press, 2003, pp. 373-403.
  • "Public debts and public assets: Explaining capital flight from sub-Saharan African countries." Co-authored with James K. Boyce, World Development, 2003, vol. 31(1), 107-130.
  • "Is Africa a net creditor? New estimates of capital flight from severely indebted sub-Saharan African countries, 1970-1996," co-authored with James K. Boyce, Journal of Development Studies, 2001, vol. 38(2), 27-56. [Winner of the Dudley Seers Memorial Prize for best article]
  • "Towards a solution to violence in Burundi: A case for political and economic liberalization," Journal of Modern African Studies, 2000, vol. 38(3), 431-459.
  • "Financial determinants of domestic investment in sub-Saharan Africa: Evidence from panel data," World Development, 2000, vol. 28(2): 381-400.
  • "Congo’s odious debt: External borrowing and capital flight in Zaire," co-authored with James K. Boyce, Development and Change, 1998, vol. 29 (2), 195-217.
  • "Institutional failure and ethnic conflicts in Burundi," African Studies Review, 41(1), April 1998, 29-47

Research and Publications

  • Pickbourn, L., R. Carher, and L. Ndikumana (2022). Does project-level foreign aid increase access to improved water sources? Evidence from household panel data in Uganda. World Development, 158. https://doi.org/10.1016/j.worlddev.2022.105994 
  • Ndikumana, L. and J.K. Boyce (2022). On the Trail of Capital Flight from Africa. The Takers and the Enablers. Oxford: Oxford University Press. 
  • Adam Aboobaker, Karmen Naidoo, and Léonce Ndikumana (2022). South Africa: Capital Flight, State Capture, and Inequality. In Ndikumana, L. and J.K. Boyce (2022). On the Trail of Capital Flight from Africa. The Takers and the Enablers. Oxford: Oxford University Press, chapter 5. 
  • Ndikumana, L. and J. K. Boyce (2022). Capital Flight from Angola, Côte d'Ivoire, and South Africa: An Overview. In Ndikumana, L. and J.K. Boyce (2022). On the Trail of Capital Flight from Africa. The Takers and the Enablers. Oxford: Oxford University Press, chapter 2. 
  • Ndikumana, L. and J. K. Boyce (2022). Conclusions: Capital Flight in the World Economy. In Ndikumana, L. and J.K. Boyce (2022). On the Trail of Capital Flight from Africa. The Takers and the Enablers. Oxford: Oxford University Press, chapter 7. 
  • Ndikumana, L. and J. K. Boyce (2022). Introduction: Why Care about Capital Flight? . In Ndikumana, L. and J.K. Boyce (2022). On the Trail of Capital 4 Flight from Africa. The Takers and the Enablers. Oxford: Oxford University Press, chapter 1.
  • Ndikumana, L. 2021. Infrastructure, Finance, and Economic Transformation in Africa: Contributions to the Debate. Journal of African Development, 22(1), 1-6 
  • Ndikumana, L., K. Naidoo and F. Perez (2021). Can national development banks help alleviate the shortage of patient investment capital in Africa? Evidence from bank-level panel data”, forthcoming in Journal of African Development. 
  • Erin Baker, Destenie Nock, Todd Levin, Samuel A. Atarah, Anthony Afful-Dadzie, David Dodoo-Arhin, Léonce Ndikumana, Ekundayo Shittu, Edwin Muchapondwa, and Charles Van-Hein Sackey (2021). Who is marginalized in energy justice? Amplifying community perspectives of energy transitions in Ghana leader. Energy Research & Social Science, 73. https://authors.elsevier.com/sd/article/S2214- 6296(21)00026-8 
  • Wayoro, Didier and L. Ndikumana (2020). "Impact of Development Aid on Infant Mortality: Micro-level Evidence from Côte d’Ivoire", African Development Review, Vol 32, 432-445. (first published: September 2020). http://dx.doi.org/10.1111/1467-8268.12450 
  • Ndikumana, L. and Mare Sarr (2019). Capital flight, foreign direct investment and natural resources in Africa. Resources Policy, Vol. 63 (October). Online access: https://doi.org/10.1016/j.resourpol.2019.101427 
  • Pickbourn, L. and L. Ndikumana. 2018. Does Health Aid Reduce Infant and Child Mortality from Diarrhea in sub-Saharan Africa? Journal of International Development 55(10): 2212-31. https://doi.org/10.1080/00220388.2018.1536264). 
  • Ndikumana, L. and J.K. Boyce, “Debt and Capital Flight,” in K.A. Reinert (Ed.) (2017), Handbook of Globalization and Development. Edward Elgar. 
  • Ndikumana, L. and Pickbourn, L. (2017) “The Impact of Foreign Aid Allocation on Access to Social Services in sub-Saharan Africa: The Case of Water and Sanitation,” World Development 90 (February): 1-04-114. 
  • Ndikumana, L. (2016) “Implications of Monetary Policy for Credit and Investment in Sub-Saharan African Countries.” Journal of African Development, 18 (2): 1-18. 
  • Nkurunziza, J., L. Ndikumana and P. Nyamoya (2016) “The Financial Sector in Burundi: An Investigation of Its Efficiency in Resource Mobilization and Allocation.” In Sebastian Edwards, Simon Johnson, and David N. Weil (Eds.) African Successes, Volume III: Modernization and Development, pp. 103-156: Chicago: Chicago University Press. 
  • Ndikumana, L. (2016). “The Role of Foreign Aid in Post‐Conflict Countries.” in Arnim Langer and Graham K. Brown (Eds.) Building Sustainable Peace: Timing and Sequencing of Post--‐Conflict Reconstruction and Peacebuilding. Oxford: Oxford University Press, Chapter 9. 
  • Ndikumana, L. (2016) “Causes and Effects of Capital Flight from Africa: Lessons from Case Studies.” African Development Review, Vol. 28, No. S1, 2– 7 
  • Pickbourn, L. and L. Ndikumana (2016) “Impact of sectoral allocation of foreign aid on gender equity and human development.” Journal of International Development, 28 (3), 396–411  
  • Ndikumana, Léonce and Theresa Mannah-Blankson (2015), “Financing Domestic Investment in African Countries: Does the Source of Financing Matter?” Journal of African Development Vol. 17, no. 2, 19-48. PERI Working Paper 391. 
  • Ndikumana, L. (2015) “Integrated Yet Marginalized: Implications of globalization for African Development.” African Studies Review, 58 (2), 7-28. (available as PERI Working Paper 381) 
  • Ndikumana, L. (2015) “International Tax Cooperation and Implications of Globalization.” In Alonso, J.A. and J.A. Ocampo (Eds.) Global Governance and Rules for the Post-2015 Era (pp. 73-105). New York: Bloomsbury Academic. PERI Working Paper 355; UNDESA working paper 
  • Ndikumana, L. (2015). Savings, Capital Flight, and African Development. In Lin, J. Y. and Monga, C. (Eds.) Oxford Handbook of Africa and Economics, Volume 2 (Chapter 9). Oxford: Oxford University Press. PERI Working Paper 353 
  • Ndikumana, L. (2015) Better global governance for a stronger Africa: A new era, a new strategy. In Ernesto Zedillo (Ed.) Africa at a Fork in the Road: Taking Off or Disappointment Once Again? (pp. 315-330). Yale Center for the Study of Globalization (eBook edition). 
  • Ajayi, S. I. and Ndikumana, L. (Eds.) (2015), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford: Oxford University Press 
  • Boyce, J. K. and Ndikumana, L. (2015). Strategies for addressing capital flight. In S. I. Ajayi and L. Ndikumana (Eds.), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford: Oxford University Press, 393-417. 
  • Fofack, H. and Ndikumana, L. (2015). Capital flight and macroeconomic policy in Africa. In I. Ajayi and L. Ndikumana (Eds.), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford, UK: Oxford University Press, 130- 163.
  • Ndikumana, L., Boyce, J. K. and Ndiaye, A. S. (2015). Capital Flight from Africa: Measurement and Drivers. In S. I. Ajayi and L. Ndikumana (Eds.), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford: Oxford University Press, 15-54. 
  • Ajayi, S.I. and Ndikumana, L. (2015). Introduction: Scale, Causes and Effects of Capital Flight from Africa. In I. Ajayi and L. Ndikumana (Eds.), Capital Flight from Africa: Causes, Effects and Policy Issues. Oxford, UK: Oxford University Press, 1-11. 
  • Ndikumana, L. (2014) « Fuite des capitaux et paradis fiscaux : impact sur l'investissement et la croissance en Afrique » Revue d’économie du développement 2014/2 
  • “Access to Credit by Firms in Sub-Saharan Africa: How Relevant Is Gender?” American Economic Review Papers and Proceedings, 103(3) (May 2013), 293-97 [co-authored with Elisabeth Asiedu, Isaac Kalonda-Kanyama, and Akwasi Nti-Addae] 
  • Ndikumana, L., Boyce, J. K. (2013) La Dette Odieuse de l’Afrique : Comment l’endettement et la fuite des capitaux ont saigné un continent. Dakar: Amalion Publishing. (Translation of 2011 English edition) 
  • “The Global Financial Crisis and Africa: The Effects and Policy Responses.” Co-authored with Zuzana Brixiova. In Gerald Epstein and Martin H. Wolfson (Eds.) The Oxford Handbook of the Political Economy of Financial Crises, Oxford: Oxford University Press, 2013, Pp. 711-35 
  • « Appliquer l’évaluation à l’aide au développement : une solution pour combler le fossé micro-macro de l’efficacité de l’aide? » Revue d’économie du développement, 2012, Vol. 26 (4), 125-153. 
  • “Applying Evaluation to Development and Aid: Can Evaluation Bridge the Micro-macro Gaps in Aid Effectiveness?” in Bourguignon et al (Eds.) Evaluation and Its Discontents: Do We Learn from Experience in Development? Proceedings of the 9th AFD-EUDN Conference 2012, pp. 123- 150. 
  • “Capital flight from North African countries.” PERI Report, October 2012. Co-authored with James K. Boyce. 
  • “Capital flight from sub-Saharan African countries: Updated estimates, 1970 – 2010.” PERI Report, October 2012. Co-authored with James K. Boyce. 
  • “Elites loot Africa as foreign debts mount” in Nayan Chanda and Susan Froetschel (Eds.) A World Connected: Globalization in the 21st Century. YaleGlobal Online Ebook 2012. Pp. 44-47. Co-authored with James K. Boyce. 
  • How Capital Flight Drains Africa: Stolen Money and Lost Lives, in Nicolas Pons-Vignon and Phu-mile Ncube, eds., Confronting Finance: Mobilizing the 99% for Economic and Social Progress. Geneva: International Labour Office, pp. 31-34. (co-authored with James K. Boyce) 
  • “Rich Presidents of Poor Nations: Capital Flight from Resource-Rich Countries in Africa.” ACAS Bulletin 87, special issue (November). Co-authored with James K. Boyce, 2012. 
  • “Debt audit and repudiation of odious debt.” ACAS Bulletin 87, special issue (November), pp. 36-41. Co-authored with James K. Boyce, 2012. 
  • “Burundi.” in Ernest Aryeetey, Shantayanan Devarajan and Ravi Kanbur, eds. The Oxford Companion to the Economics of Africa, 2012 
  • Africa’s Odious Debts: How Foreign Loans and Capital Flight Bled a Continent. London: Zed Books. Co-authored with James K. Boyce. 2011 46
  • China-Africa: New Development Opportunities. Co-edited with Richard Schiere and Peter Walkenhorst. Tunis: African Development Bank, 2011. 
  • “Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and Policy Options”, co-authored with James K. Boyce. International Review of Applied Economics 25(2) 149-170, 2011. 
  • “Is there a case for formal inflation targeting in sub-Saharan Africa?” Journal of African Economies, Supplement 2 May 2011 ii67-ii103, co-authored with James Heintz 
  • “Special issue on the African Economic Conference 2008: Globalization, Institutions and African Economic Development – Introduction”, African Development Review 22 (1), 1-3, 2010. co-authored with John Anyanwu. 
  • “Introduction: Fostering Development in an Era of Financial and Economic Crises”, African Development Review 22 (3), 347-350, 2010. co-authored with Albert Mafusire and Abdul B. Kamara. 
  • “Measurement of Capital Flight: Methodology and Results for Sub-Saharan African Countries.” African Development Review 22 (4), 471-481, 2010. coauthored with James K. Boyce. 
  • “Revenue mobilization in African Countries: Does Natural Resource Endowment Matter?” African Development Review 22 (3), 351-365, 2010. coauthored with Kaouther Abderrahim. 
  • Mitigating the Impact of the Financial and Economic Crisis in Africa, Paris: Economica, 2010; Book co-edited with Louis Kasekende and Abdul Kamara. 
  • “The financial crisis – Strategies for mitigating its impact in Africa: Conclusion and the Way forward.” In L. Kasekende, L. Ndikumana and A. Kamara (Eds.) Mitigating the Impact of the Financial and Economic Crisis in Africa, Paris: Economica, 2010, pp. 147-155. Co-authored with Louis Kasekende. 
  • “Africa’s Revolving Door: External Borrowing and Capital Flight in SubSaharan Africa.” In Vishnu Padayachee (ed.), Political Economy of Africa, 2010. Co-authored with James K. Boyce 
  • “Growth and Development in Africa: Challenges and Opportunities.” In Shahrukh Rafi Khan and Jens Christiansen (Eds.) Towards New Developmentalism: Market as Means rather than Master. Pp. 203-224. London and New York: Routledge, 2010. 
  • Kasekende, Louis, Zuzana Brixiova, and Léonce Ndikumana (2010). “Africa’s counter-cyclical policy responses to the crisis.” Journal of Globalization and Development Vol. 1(1), January 2010 (Online). 34
  • “Capital Flight Repatriation: Investigation of its Potential Gains for SubSaharan African Countries.” Co-authored with Hypolite Fofack. African Development Review 22 (1), 4-22, 2010.
  • 33 "Employment, Poverty and Economic Development in Madagascar: A Macroeconomic Framework". Co-authored with Gerald Epstein, James Heintz, and Grace Chang. International Labour Office, Employment Sector Working Paper 58, 2010 
  • “Enhancing Competitiveness in Four African Economies: The Case of Botswana, Mauritius, Namibia, and Tunisia.” In World Bank, African Development Bank, and World Economic Forum, African Competitiveness Report 2009, pp. 139-162. 
  • “Supporting the World Trade Organization Negotiations: Looking Beyond Market Access.” In The great trade collapse: Causes, Consequences and Prospects Edited by Richard Baldwin, co-authored with Tonia Kandiero, November 2009. 
  • “FDI and Domestic Investment: Investigating the Impact of Foreign Investment on Development in Sub-Saharan Africa.” In Seck, D. and S. Boko (Eds.) Back on Track: Sector-led Growth in Africa and Implications for Development. Africa World Press. 2009.
  • “Corruption and growth in African countries: Exploring the Investment Channel.” Co-authored with Mina Baliamoune. In: AfDB and UNECA, Africa’s Development Challenges and Opportunities in the Global Arena: Proceedings 8 of the 2007 African Economic Conference, 399-409, Paris: ECONOMICA for AfDB and UNECA, 2009. 
  • “Reserves Accumulation in African Countries: Sources, Motivations, and Effects,” co-authored with Adam Elhiraika (UNECA), In: AfDB and UNECA, Africa’s Development Challenges and Opportunities in the Global Arena: Proceedings of the 2007 African Economic Conference. 285-315, Paris: ECONOMICA for AfDB and UNECA, 2009. 
  • “Revisiting Development Finance Institutions for the Purpose of Accelerating African Economic Development.” In: AfDB and UNECA, Proceedings of the 2006 African Economic Conference. Nairobi, Kenya: AERC for AfDB, 2009. 
  • “The Linkages between FDI and Domestic Investment: Unravelling the Development Impact of Foreign Investment,” co-authored with Sher Verick (UNECA), Development Policy Review 26 (6), 713-26, 2008. 
  • “Can macroeconomic policy stimulate private investment in South Africa? New insights from aggregate and manufacturing sector-level evidence.” Journal of International Development 20 (7), 869-87, 2008. 
  • “Capital Flight.” In Kenneth Reinert and Ramkishen Rajan (eds.). The Princeton Encyclopedia of the World Economy. November 2008 
  • Ndikumana, L. and Justine Nannyonjo (2007) “From Failed State to Good Performer? The Case of Uganda.” In J.K. Boyce and M. O’Donnell, eds., Peace and the Public Purse: Economic Policies for Postwar Statebuilding, pp. 15-54. Lynne Rinner. 
  • “Making the State Relevant in Burundi.” in G. K. Kieh, Jr., ed., Beyond State Failure and Collapse: Making the State Relevant in Africa. New York: Lexington Books, 2007, pp. 51-78. 
  • “Corruption and Pro-Poor Growth Outcomes: Evidence and Lessons for African Countries.” In Mbaku, J., M. Martin, and J. Karugia, (eds.). Governance and Pro-Poor Growth in Sub-Saharan Africa. Nairobi: AERC, Seminar Papers, 2007, 184-219. 
  • An Employment-Targeted Economic Program for South Africa. Northampton, MA: Edward Elgar Publishing. Co-authored with Robert Pollin, Gerald Epstein, and James Heinz, 2006. 
  • “An Employment-Targeted Economic Program for South Africa.” County Study No. 1. International Poverty Center, UNDP. June 2006. Co-authored by G. Epstein, J. Heintz, and R. Pollin. 
  • “Distributional conflict, the state and peace building in Burundi.” The Round Table, 2005, vol. 94 (381), 413-427. 
  • “Financial development, financial structure, and domestic investment: International evidence.” Journal of International Money and Finance, 2005, vol. 24 (4), 651-673. 
  • “Africa's debt: Who owes whom?” co-authored with James K. Boyce. In Gerald Epstein (Ed.). Capital Flight and Capital Controls in Developing Countries. Edward Elgar Press, 2005, pp. 334-340. 
  • “The Economics of Civil War: The Case of the Democratic Republic of Congo.” Co-authored with Kisangani Emizet. In Nicholas Sambanis and Paul Collier (Eds.) Understanding Civil War: Evidence and Analysis, pp. 63-88. The World Bank, 2005. 
  • “Africa and the world economy: A focus on capital - An overview.” Journal of African Economies 13 (2), 2004, pp. 1-14. Co-authored with AK Fosu and P. Krishnan. 
  • “Additionality of Debt Relief and Debt Forgiveness, and Implications for Future Development Financing.” International Review of Economics and Finance, 2004, vol. 13, 325-340. 
  • “Fiscal Policy, Conflict, and Reconstruction in Burundi and Rwanda.” In Addison, T. and A. Roe (Eds.). Fiscal Policy for Development, Poverty, Reconstruction and Growth. Palgrave – MacMillan, 2004, pp. 274-302. 
  • “Capital Flows, Capital Account Regimes, and Foreign Exchange Rate Regimes in Africa.” In: UNCTAD Secretariat (Ed.), Management of Capital Flows: Comparative Experiences and Implications for Africa. Geneva: United Nations, 2003, pp. 313-384. 
  • “Financial markets and economic development in Africa.” In: Emmanuel Nnadozie (Ed.) African Economic Development, Academic Press, 2003, pp. 373-403. 
  • “Overcoming the fiscal crisis of the state." Co-authored with Tony Addison. In: Tony Addison (Ed.) From Conflict to Recovery in Africa, Oxford University Press, 2003, pp. 240-259. 
  • “Public debts and public assets: Explaining capital flight from sub-Saharan African countries.” Co-authored with James K. Boyce, World Development, 2003, vol. 31(1), 107-130. 
  • Boyce, James K. and Léonce Ndikumana (2001) “Is Africa a net creditor? New estimates of capital flight from severely indebted sub-Saharan African countries, 1970-1996,” Journal of Development Studies, 2001, vol. 38(2), 27- 56. [Winner of the Dudley Seers Memorial Prize for best article] 
  • “Towards a solution to violence in Burundi: A case for political and economic liberalization,” Journal of Modern African Studies, 2000, vol. 38(3), 431-459. 
  • “Financial intermediation and growth in Southern Africa,” co-authored with Donald Allen), Journal of African Economies, 2000, vol. 9(2), 132-160. 
  • “Financial determinants of domestic investment in sub-Saharan Africa: Evidence from panel data,” World Development, 2000, vol. 28(2): 381-400. 
  • “Debt service, financing constraints, and fixed investment: Evidence From panel data,” Journal of Post Keynesian Economics, 1999, vol. 21(3), 455-478. 
  • “Congo’s odious debt: External borrowing and capital flight in Zaire,” coauthored with James K. Boyce, Development and Change, 1998, vol. 29 (2), 195-217. 
  • “Institutional failure and ethnic conflicts in Burundi,” African Studies Review, 41(1), April 1998, 29-47.

Other publications

Ndikumana, L. and L. Pickbourn (2016). “The Future of Aid Effectiveness in Sub-Saharan Africa - A Research Agenda,” The Global Development Network’s Paper Series on the Future of Aid Effectiveness Research in Africa. http://gdn.int/admin/uploads/editor/files/Aid%20effectiveness%20paper%20final.pdf

OpEd, Policy Briefs, and Blogs

  • “Capital flight: stop the looting of Africa to avoid social explosion,” By Léonce Ndikumana and James K. Boyce, Premium Times, Jan. 27, 2022. 
  • “COP26 : face à la dette climatique, mieux taxer les multinationales”, Jeune Afrique, https://www.jeuneafrique.com/1261233/societe/cop26-face-a-la-detteclimatique-mieux-taxer-les-multinationales/ 
  • “For Rich Countries to Honor Their Climate Debt, We Must Better Tax Multinationals”, Common Dreams, Nov 10, 2021. https://www.commondreams.org/views/2021/11/10/rich-countries-honor-theirclimate-debt-we-must-better-tax-multinationals. 
  • “Fin des paradis fiscaux : quels gains pour l’Afrique ?”, Jeune Afrique, https://www.jeuneafrique.com/1206460/economie/fin-des-paradis-fiscaux-quelsgains-pour-lafrique/ 
  • “Interview: Léonce Ndikumana on Africa and Capital Flight”, Global Policy, 20 May 2021, https://www.globalpolicyjournal.com/blog/20/05/2021/interview-leonce-ndikumanaafrica-and-capital-flight 
  • To Resist the Pandemic, A Vaccine Is Needed, and So Are Taxes, Premium Times, Sep. 23, 2020. https://opinion.premiumtimesng.com/2020/09/23/to-resist-the-pandemic-avaccine-is-needed-and-so-are-taxes-by-leonce-ndikumana/ 
  • Face au Covid-19, faire payer les champions de l’évasion fiscale, La Croix, Sept 7, 2020. https://www.icrict.com/icrict-in-thenews/2020/9/7/face-au-covid-19-faire-payer-leschampions-de-lvasion-fiscale 
  • In the face of Covid-19, Africa must crack down on corporate tax evaders. Daily Maverick, 7 Sep, 2020. https://www.icrict.com/icrict-in-thenews/2020/9/7/in-the-face-ofcovid-19-africa-must-crack-down-on-corporate-tax-evaders 
  • Financial secrecy and capital flight is crippling Africa. Daily Maverick, 17 Feb, 2020. https://www.icrict.com/icrict-in-thenews/2020/2/20/financial-secrecy-and-capital-flightis-crippling-africa 
  • Pour en finir avec l’injustice fiscale, l’Afrique doit taxer davantage les multinationales. Jeune Afrique, Jan. 6, 2020. https://www.icrict.com/icrict-in-thenews/2020/1/6/pour-enfinir-avec-linjustice-fiscale-lafrique-doit-taxer-davantage-les-multinationales 
  • Climat : pourquoi l’Afrique doit taxer les multinationales. Jeune Afrique, May 19, 2019. https://www.icrict.com/icrict-in-thenews/2019/5/17/climat-pourquoi-lafrique-doit-taxerles-multinationales 
  • Why an overhaul of the international tax system is so important. Business Day, May 15, 2019. https://www.icrict.com/icrict-in-thenews/2019/5/15/why-an-overhaul-of-theinternational-tax-system-is-so-important 
  • Réforme fiscale de Trump, les pauvres Américains sont perdants, ceux du reste du monde aussi, La Croix, Nov 20, 2017 11 
  • In America and Around the World, the Poor Will Pay for the GOP Tax Plan, Common Dreams, Nov 11, 2017. 
  • Le mythe de l’Afrique pauvre aidée par les pays riches, Jeune Afrique, Oct 13, 2017 
  • It’s time to acknowledge the impact of capital flight on developing countries, Daily Maverick, Oct 10, 2017. 
  • Trekking the Gold Trail: Misinvoicing in Primary Commodity Exports. Triple Crisis Blog, 9 February 2017. 
  • Fight Against Capital Flight: A Global Agenda for Achieving Sustainable Development in Africa. Africa Blog, German Development Institute, 31 January 2017. 
  • Ndikumana, L. (2014) Savings, Capital Flight, and African Development, Part 2, Triple Crisis, August 20, 2014
  • Ndikumana, L. (2014) Saving, capital flight and African development – Part 1. Triple Crisis, August 12, 2014 
  • Ndikumana, L. (2014) Extreme Inequality Retards South Africa’s Economic Growth, Real News Network, March 12, 2014 
  • Ndikumana (2013) Agriculture for Africa’s Development: In Search for a Champion, Triple Crisis, February 27, 2013 
  • Ndikumana, L. (2013) The Return of Austerity-The View From Africa, Triple Crisis, January 4, 2013 - See more at: http://triplecrisis.com/author/leoncendikumana/#sthash.8aktmp68.dpuf 24.
  • Ndikumana, L. (2013a). Agriculture for Africa’s development: In search for a champion. Triple Crisis, February 27. 
  • Ndikumana, L. (2012e). Debt Audit as Social Justice: Lessons from the Norwegian Model. Triple Crisis, December 24. 
  • Ndikumana, L. (2012). Africa’s $1.3 Trillion Gone ‘Missing’. Triple Crisis, October 30. 
  • Ndikumana, L. (2012). Africa can win the fight against poverty if it can keep its resources onshore. Triple Crisis, September 21. 
  • “Challenges for International Development to Africa.” (an interview) The Forum Discussing International and Economics, edited by Jason Miks, www.ia-forum.org, Spring 2010, 29-35. 
  • “Chine-Afrique : les projecteurs à nouveau braqués sur le continent » African Business, September-October 2010. 
  • “Global trade and Africa.” In Redefining World Trade. 7th Credit Suisse Salon. September 20, 2010. Co-authored with Tonia Kandiero.
  • “Africa's odious debts: The war in Iraq might have succeeded in dismantling at least one weapon of mass destruction, the debt bomb.” Co-authored with James K. Boyce. Tipei Times 06 July 2003. 
  • “Africa may have a case on basis of `odious debt.” Co-authored with James K. Boyce, Bangkok Post Wednesday 02 July 2003 
  • “Africa’s debt: Who owes whom?” co-authored with James K. Boyce, Der Ueberblick 1/2003, March 2003, 70-73.
  • “Employment Challenges in Post-Conflict Reconstruction: Issues and Agenda for Research,” in ILO (Ed.) High Level Research Consultation on Crisis. Proceedings of the meeting organized for the InFocus Program on Crisis Response and Reconstruction, Geneva: ILO, Recovery and Reconstruction Department, 3-5 May 2000.

Selected Working Papers

  • Ndikumana, L., J.D. Nkurunziza, M.E. Sanchez Martin, S. Mulugeta, and Z. Getachew Kelbore (2021). Monetary, Fiscal, and Structural Drivers of Inflation in Ethiopia : New Empirical Evidence from Time Series Analysis. World Bank, Policy Research Working Paper WPS9881 (December).
  • Ndikumana, L., Naidoo, K. and F. Perez (2021). Is There a Case for National Development Banks in Africa? Conceptual Rationale and Empirical Evidence. Political Economy Research Institute, PERI Working Paper 542.
  •  Ndikumana, L., Naidoo, K., and Aboubaker, A. 2020. Capital flight from South Africa: A case study. Amherst, MA: Political Economy Research Institute, Working Paper 516. 
  • Wayoro, Didier and L. Ndikumana, "Impact of Development Aid on Infant Mortality: Micro-level Evidence from Côte d’Ivoire", UMass Economics Department Working Paper 2019-07 
  • Ndikumana, L. and J.K. Boyce, “Magnitude and Mechanisms of Capital Flight from Angola, Côte d’Ivoire and South Africa.” PERI Working Paper 478, Dec 2018; UMass Economics Department Working Paper 2019-12
  • Ndikumana, L. and M. Sarr, “Capital flight and foreign direct investment in Africa: An investigation of the role of natural resource endowment.” UNU-WIDER Working Paper 58/2016
  • Ndikumana, Léonce, “The Role of Foreign Aid in Post-Conflict Countries” PERI Working Paper 409, Oct. 2015
  • Ndikumana, Léonce and Lynda Pickbourn, The Impact of Foreign Aid Allocation on Access to Social Services in sub-Saharan Africa: The Case of Water and Sanitation, PERI Working Paper 400, Sept. 2015.
  • Ndikumana, Léonce and Theresa Mannah-Blankson, “Financing Domestic Investment in African Countries: Does the Source of Financing Matter?” forthcoming in Journal of African Development Vol. 17, no. 2. PERI Working Paper 391.
  • Better Global Governance for a Stronger Africa: a New Era, a New Strategy, PERI Working Paper 369  Implications of Monetary Policy for Credit and Investment in Sub-Saharan African Countries, PERI Working Paper 356
  • “International Tax Cooperation and Implications of Globalization”, PERI Working Paper 355; UNDESA working paper
  • “Savings, Capital Flight, and African Development,” PERI Working Paper 353  “Capital Flight and Tax Havens: Impact on Investment and Growth in Africa”, 2013 AFD/EUDN Conference Proceedings
  •   “Overcoming Low Political Equilibrium in Africa: Institutional Changes for Inclusive Development” PERI Working Paper (Vol. 331).
  • “The Private Sector as Culprit and Victim of Corruption in Africa.” PERI Working Paper (Vol. 330). 13
  • “Impact of sectoral allocation of foreign aid on gender equity and human development.” Co-authored with Lynda Pickbourn, UNU/WIDER Working Paper WP/2013/066
  • “The Financial Sector in Burundi” co-authored with Janvier Nkurunziza and Prime Nyamoya, NBER Africa Project, NBER Working Paper 18289.
  • “Credit Constraints and Productive Entrepreneurship in Africa,” co-authored with Mina Baliamoune-Lutz, Zuzana Brixiová, PERI Working Paper 276 (December 2011). 
  • “New Estimates of Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and Policy Options”, co-authored with James K. Boyce (University of Massachusetts, Amherst), PERI Working Paper 166.
  • “Capital Flight Repatriation: Investigation of its Potential Gains for Sub-Saharan African Countries.” Co-authored with Hipplyte Fofack, World Bank Policy Research Working Paper 5024. 

Book and film reviews

  • Review of "Our Friends at the Bank," a film by Peter Chappell, First Run / Icarus Films, 1998 / color / 85 minutes. African Studies Review 2001.
  • Review of Samuel M. Muriithi, African Development Dilemma: The Big Debate (Lanham, MD: University Press of America), 1997, 128pp, in African Studies Review, 41(1), April 1998, 170-171.
  • Review of African Development Bank, African Development Report 1997. Fostering Private Sector Development in Africa (New York: Oxford University Press), 221pp, in African Studies Review, 41(2), September 1998, 149-151.
  • Review of S. K. B. Asante, Regionalism and Africa's Development: Expectations, Reality and Challenges (New York: St. Martin's Press), 1997, 206pp, in African Studies Review, 42(1): 147-149.

Professional Affiliation and Service

  • Editorial Board member, Journal of African Development
  • Editorial Board member, Zed Africa - Politics and Development in Contemporary Africa
  • Editorial Board member, African Development Review
  • Advisory Committee member, Association for the Advancement of African Women Economists (AAAWE)
  • Member of the Board of Directors, Village Health Works (Burundi)

Memberships

  • African Economic Research Consortium (AERC), Resource Person, Chair of Group B - Macroeconomic Policy and Growth
  • African Finance and Economics Association, Board Member; President 2005-2007
  • American Economic Association, member
  • National Economic Association, member
  • African Studies Association, member