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Sub-Saharan Africa's Integration in the Global Financial Markets

Author

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

Abstract

The paper uses a unique database covering 44 countries in sub-Saharan Africa (SSA) countries between 2000 and 2007 to study the determinants of the allocation and composition of flows across countries, as well as channels through which private capital flows could affect growth. In our 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 SSA countries contrasts with the more pessimistic results of recent studies, though our data do not allow us to make conclusive inferences about a causality relationship.

Suggested Citation

  • Corinne Deléchat & John Wakeman-Linn & Smita Wagh & Gustavo Ramirez, 2009. "Sub-Saharan Africa's Integration in the Global Financial Markets," IMF Working Papers 09/114, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:09/114
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    References listed on IDEAS

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    Cited by:

    1. International Monetary Fund, 2017. "Jamaica; Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica," IMF Staff Country Reports 11/329, International Monetary Fund.

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