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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
URLhttps://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.
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