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来源类型 | Working and discussion papers |
规范类型 | 工作论文 |
The global financial crisis and sub-Saharan Africa: The effects of slowing private capital inflows on growth | |
José Brambila Macias and Isabella Massa | |
发表日期 | 2009 |
出版年 | 2009 |
语种 | 英语 |
概述 | This paper uses a panel cointegration analysis to examine the long-run relationship between economic growth and four types of private capital inflows on a sample of selected sub-Saharan African countries between 1980 and 2007. |
摘要 | This paper uses a panel cointegration analysis to examine the long-run relationship between economic growth and four different types of private capital inflows (cross-border bank lending, foreign direct investment (FDI), bonds flows and portfolio equity flows) on a sample of selected sub-Saharan African countries over the period 1980-2007. Our results show that FDI and cross-border bank lending exert a significant and positive impact on sub-Saharan Africa’s growth, whereas portfolio equity flows and bonds flows have no growth impact. Our estimates suggest that a drop by 10% in FDI inflows may lead to a 0.5% decrease of income per capita in sub-Saharan Africa, and a 10% decrease in cross-border bank lending may reduce growth by up to 0.7%. Therefore, the global financial crisis is likely to have an important effect on sub-Saharan Africa’s growth through the private capital inflows channel (half a percent of growth is worth around $5 billion in lost output). |
主题 | economic development ; trade ; financial crisis ; finance ; private sector ; markets ; sub-Saharan Africa ; Global |
URL | https://www.odi.org/publications/3367-global-financial-crisis-and-sub-saharan-africa-effects-slowing-private-capital-inflows-growth |
来源智库 | Overseas Development Institute (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/507379 |
推荐引用方式 GB/T 7714 | José Brambila Macias and Isabella Massa. The global financial crisis and sub-Saharan Africa: The effects of slowing private capital inflows on growth. 2009. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
4410.pdf(639KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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