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FDI, democracy and corruption in Sub-Saharan Africa

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  • Gossel, Sean Joss

Abstract

This paper investigates the relationship between FDI, democracy and corruption among 30 countries in Sub-Saharan Africa (SSA) over the period of 1985–2014 to determine whether the ‘helping hand’ or ‘grabbing hand’ hypothesis is most applicable. The results of GMM analysis show that corruption is used by FDI investors to overcome the region’s weak democratic regulatory and institutional status and thus the ‘helping hand’ is more prevalent. However, the results further show that as democratic capital accumulates, this association may outlive its usefulness and thus corruption as a ‘helping hand’ in time becomes a ‘grabbing hand’ instead. These results imply that SSA countries should focus on integrating into the international economy so as to take advantage of existing financial enforcement legislation while reconstructing and strengthening domestic constitutional anti-corruption legislation and institutions.

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  • Gossel, Sean Joss, 2018. "FDI, democracy and corruption in Sub-Saharan Africa," Journal of Policy Modeling, Elsevier, vol. 40(4), pages 647-662.
  • Handle: RePEc:eee:jpolmo:v:40:y:2018:i:4:p:647-662
    DOI: 10.1016/j.jpolmod.2018.04.001
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    2. William Bekoe & Talatu Jalloh & Wassiuw Abdul Rahaman, 2021. "Corruption and Foreign Direct Investment Inflows: Evidence from West Africa," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 14(3), pages 7-25, December.
    3. Bissiri, M. & Moura, P. & Figueiredo, N.C. & Silva, P.P., 2020. "Towards a renewables-based future for West African States: A review of power systems planning approaches," Renewable and Sustainable Energy Reviews, Elsevier, vol. 134(C).
    4. Carla Rhode & Tanja Stitteneder, 2020. "Creating Sustainable Cooperation Strategies with Africa: A Glance at Development Aid and FDI," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 21(02), pages 53-57, July.
    5. Ștefan Cristian Gherghina & Liliana Nicoleta Simionescu & Oana Simona Hudea, 2019. "Exploring Foreign Direct Investment–Economic Growth Nexus—Empirical Evidence from Central and Eastern European Countries," Sustainability, MDPI, vol. 11(19), pages 1-33, September.
    6. Ofori, Isaac K. & Asongu, Simplice A., 2022. "Repackaging FDI for Inclusive Growth: Nullifying Effects and Policy Relevant Thresholds of Governance," MPRA Paper 111359, University Library of Munich, Germany.
    7. Krifa-Schneider, Hadjila & Matei, Iuliana & Sattar, Abdul, 2022. "FDI, corruption and financial development around the world: A panel non-linear approach," Economic Modelling, Elsevier, vol. 110(C).
    8. Ahmed, Walid M.A., 2020. "Corruption and equity market performance: International comparative evidence," Pacific-Basin Finance Journal, Elsevier, vol. 60(C).
    9. Chunyang Pan & William X. Wei & Etayankara Muralidharan & Jia Liao & Bernadette Andreosso-O’Callaghan, 2020. "Does China’s Outward Direct Investment Improve the Institutional Quality of the Belt and Road Countries?," Sustainability, MDPI, vol. 12(1), pages 1-21, January.
    10. Tag, Mehmet Nasih & Degirmen, Suleyman, 2022. "Economic freedom and foreign direct investment: Are they related?," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 737-752.
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    12. Vincent Tawiah & Jeleta Kebede & Anthony Kyiu, 2022. "Corruption, Chinese Investment, and Trade: Evidence from Africa," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 21(2), pages 123-151, June.

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