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Over the past year, close to €100 billion, or $132 billion, has fled Spain, according to Iñigo Vega, a banking analyst at Crédit Agricole Cheuvreux in Madrid, with most of the outflow coming from insurance companies and pension and sovereign-wealth funds selling their holdings of Spanish bonds.
Grigg used a control impact design to investigate effects of sewage outflow coming from pipes deployed in the coastal waters of Hawaii.
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Much of that outflow came in the panicky months preceding the two rounds of Greek elections in May and June.
Aberdeen Asset Management has slipped 11.8p to 451.3p as net outflows came in higher than forecast.
The outflows came amid concerns about the US Federal Reserve's monetary policy and its effects on emerging markets, a core business for Ashmore.
The largest outflows came from Putnam's international equity fund, he said, one of the funds that Putnam managers had traded improperly, regulators said.
More than half of the 56.2 billion francs ($52.5 billion) in outflows came from its wealth-management and Swiss bank units.
However, migration outflows came to a standstill in the wake of the First World War and the global crisis of the 1930s and after the Spanish civil war (1936 1939) migration from Spain was banned.
Until recently, data on migration outflows came exclusively from records of passengers leaving the country by sea or air and from information on official bilateral programs of organized migration to Europe.
Most of the outflow has come from insurance companies and pension and sovereign wealth funds reducing their holdings of Spanish bonds.
"What's happening is an outflow of people coming down, more south, causing more and more concentration with more infrastructure, that's also putting a lot of pressure on living standards... so yes it has an effect," he said.
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