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How Global Financial Markets Affect Sub-Saharan Africa

Author

Listed:
  • Corinne Deléchat
  • Gustavo Ramirez
  • Smita Wagh
  • John Wakeman-Linn

Abstract

This paper uses a unique database covering 44 countries in sub-Saharan Africa between 2000 and 2007 to study the determinants of the allocation and composition of private capital flows across countries, as well as channels through which these flows could affect growth. In the sample, the degree of financial market development is an important determinant of the distribution of capital flows across countries, as opposed to property rights institutions. The fairly consistent positive association between net capital flows and growth for sub-Saharan African countries is encouraging, though the data do not allow for making conclusive inferences about a causality relationship.

Suggested Citation

  • Corinne Deléchat & Gustavo Ramirez & Smita Wagh & John Wakeman-Linn, 2010. "How Global Financial Markets Affect Sub-Saharan Africa," IMF Staff Papers, Palgrave Macmillan, vol. 57(1), pages 172-208, April.
    • Handle: RePEc:pal:imfstp:v:57:y:2010:i:1:p:172-208
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    Citations

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    Cited by:

    1. Ahmed Abdullahi D., 2011. "International Financial Integration, Investment and Economic Performance in Sub-Saharan African Countries," Global Economy Journal, De Gruyter, vol. 11(4), pages 1-28, December.
    2. Cordella, Tito & Missale, Alessandro, 2013. "To give or to forgive? Aid versus debt relief," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 504-528.
    3. Oyenyinka Sunday Omoshoro‐Jones & Lumengo Bonga‐Bonga, 2022. "Intra‐regional spillovers from Nigeria and South Africa to the rest of Africa: New evidence from a FAVAR model," The World Economy, Wiley Blackwell, vol. 45(1), pages 251-275, January.
    4. Gabriel Mougani, 2012. "Working Paper 144 - An Analysis of the Impact of Financial Integration on Economic Activity and Macroeconomic Volatility in Africa within the Financial Globalization Context," Working Paper Series 375, African Development Bank.
    5. Boamah, Nicholas Addai & Akotey, Joseph Oscar & Aaawaar, Godfred, 2020. "Economic engagement and within emerging markets integration," Research in International Business and Finance, Elsevier, vol. 52(C).

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