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Investissements Directs Étrangers Et Intégration Régionale : Un État Des Lieux Pour Le Marché Commun D’Afrique De L’Est Et Du Sud

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  • Jean-François HOARAU

    ()
    (CERESUR, Université de La Réunion)

Abstract

This paper analyzes the evolution of foreign direct investment [FDI] inflows for the Common Market for Eastern and Southern Africa [COMESA]. We focus especially on the impact of its creation in 1994 on FDI performances for each member of the organization. On the whole, the results are twofold. Firstly, the COMESA, as a group, has attracted more FDI inflows over the last decade. However the global performance remains largely unsatisfactory in comparison with the other regional trade agreements of the developing world. This situation is not surprising to the extent that many barriers to international investment are still present in Eastern and Southern Africa (macroeconomic and political instabilities, unsuitable economic policies, bad infrastructures, unreliable legal systems…). Secondly, the geographical distribution of FDI is strongly heterogeneous within the COMESA. The winners are clearly the countries which have enormous natural resources, such as oil exporting economies.

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Bibliographic Info

Article provided by Region et Developpement, LEAD, Universite du Sud - Toulon Var in its journal Région et Développement.

Volume (Year): 29 (2009)
Issue (Month): ()
Pages: 69-103

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Handle: RePEc:tou:journl:v:29:y:2009:p:69-103

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Related research

Keywords: INTÉGRATION RÉGIONALE; INVESTISSEMENTS DIRECTS ÉTRANGERS; COMESA; DÉVELOPPEMENT;

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References

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  1. Morisset, Jacques, 2000. "Foreign direct investment in Africa : policies also matter," Policy Research Working Paper Series 2481, The World Bank.
  2. Carlo Altomonte, 2004. "Regional economic integration and the location of multinational enterprises," KITeS Working Papers 152, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Jan 2004.
  3. Balasubramanyam, V N & Sapsford, David & Griffiths, David, 2002. "Regional Integration Agreements and Foreign Direct Investment: Theory and Preliminary Evidence," Manchester School, University of Manchester, vol. 70(3), pages 460-82, June.
  4. Blomström, Magnus & Kokko, Ari, 1997. "Regional Integration and Foreign Direct Investment," Working Paper Series in Economics and Finance 172, Stockholm School of Economics.
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  7. Alfaro, Laura & Chanda, Areendam & Kalemli-Ozcan, Sebnem & Sayek, Selin, 2004. "FDI and economic growth: the role of local financial markets," Journal of International Economics, Elsevier, vol. 64(1), pages 89-112, October.
  8. Paul Krugman, 1990. "Increasing Returns and Economic Geography," NBER Working Papers 3275, National Bureau of Economic Research, Inc.
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  13. Carmen Reinhart & Kenneth Rogoff, 2003. "FDI to Africa," IMF Working Papers 03/10, International Monetary Fund.
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  15. Campos, Nauro F & Kinoshita, Yuko, 2008. "Foreign Direct Investment and Structural Reforms: Evidence from Eastern Europe and Latin America," IZA Discussion Papers 3332, Institute for the Study of Labor (IZA).
  16. Blomstrom, Magnus & Kokko, Ari, 1997. "Regional integration and foreign direct investment : a conceptual framework and three cases," Policy Research Working Paper Series 1750, The World Bank.
  17. Adugna Lemi & Sisay Asefa, 2003. "Foreign Direct Investment and Uncertainty: Empirical Evidence from Africa," The African Finance Journal, Africagrowth Institute, vol. 5(1), pages 36-67.
  18. Dupasquier, Chantal & Osakwe, Patrick N., 2006. "Foreign direct investment in Africa: Performance, challenges, and responsibilities," Journal of Asian Economics, Elsevier, vol. 17(2), pages 241-260, April.
  19. Medvedev, Denis, 2006. "Beyond trade : the impact of preferential trade agreements on foreign direct investment inflows," Policy Research Working Paper Series 4065, The World Bank.
  20. Sylvie Montout & Habib Zitouna, 2005. "Does North-South Integration Affect Multinational Firms' Strategies?," Review of International Economics, Wiley Blackwell, vol. 13(3), pages 485-500, 08.
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  22. Massimo Motta & George Norman, 1993. "Does economic integration cause foreign direct investment?," Economics Working Papers 28, Department of Economics and Business, Universitat Pompeu Fabra.
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