170
Views
0
CrossRef citations to date
0
Altmetric
Research Article

Does Access to International Capital Markets Affect Investment Dynamics in Sub-Saharan Africa?

ORCID Icon, ORCID Icon &

REFERENCES

  • Abadie, A., Diamond, A., & Hainmueller, J. (2010). Synthetic control methods for comparative case studies: Estimating the effect of California’s tobacco control program. Journal of the American Statistical Association, 105(490), 494–505.
  • Abadie, A., Diamond, A., & Hainmueller, J. (2015). Comparative politics and the synthetic control method. Journal of the American Statistical Association, 59(2), 495–510.
  • Abadie, A., & Gardeazabal, J. (2003). The economic costs of conflict: A case study of the Basque country. American Economic Review, 93(1), 113–132.
  • Adams, S. (2009). Foreign direct investment, domestic investment, and economic growth in Sub-Saharan Africa. Journal of Policy Modeling, 31, 939–949.
  • Adhikari, B., & Alm, J. (2016). Evaluating the economic effects of flat tax reforms using synthetic control methods. Southern Economic Journal, 83(2), 437–463.
  • Allena, F., & Giovannetti, G. (2011). The effects of the financial crisis on Sub-Saharan Africa. Review of Development Finance, 1, 1–27.
  • Anyanwu, J. C. (2006). Promoting of investment in Africa. African Development Review, 18(1), 42–71.
  • Asiedu, E. (2002). On the determinants of foreign direct investment to developing countries: Is Africa different? World Development, 30(1), 107–119.
  • Bertin, N. (2016). Economic risks and rewards for first-time sovereign bond issuers since 2007 (Technical Report 186). Tresor-Economics. Retrieved from https://www.tresor.economie.gouv.fr/Articles/2691a99d-0f00-4777-8db7-f83e1ac83936/files/23843121-faf6-4d73-ba50-b57d9e8573be
  • Boateng, E., Amponsah, M., & Baah, C. A. (2017). Complementarity Effect of Financial Development and FDI on Investment in Sub-Saharan Africa: A panel data analysis. African Development Review, 29(2), 305–318.
  • Delacre, M., Lakens, D., & Leys, C. (2017). Why psychologists should by default use Welchs t-test instead of students t-test. International Review of Social Psychology, 30(1), 92–101.
  • Djimeu, E. W. (2018). The impact of the heavily indebted poor countries initiative on growth and investment in Africa. World Development, 104, 108–127.
  • The Economist. (2018). African countries are borrowing too much. Retrieved from https://www.economist.com/leaders/2018/03/08/african-countries-are-borrowing-too-much
  • Eichengreen, B., & Portes, R. (1986). Debt and default in the 1930s: Causes and consequences. European Economic Review, 30(3), 599–640.
  • Essers, D., & Ide, S. (2019). The IMF and precautionary lending: An empirical evaluation of the selectivity and e ectiveness of the Flexible Credit Line. Journal of International Money and Finance, 92, 25–61.
  • Everhart, S. S., & Sumlinski, A. M. (2001). Trends in private investment in developing countries statistics for 1970-2000 and impact on private investment of corruption and the quality of public investment (Discussion Paper 44). International Finance Corporation, IFC working paper series, The World Bank, Washington, D.C.
  • Farla, K., De Crombrugghe, D., & Verspagen, B. (2016). Institutions, foreign direct investment, and domestic investment: Crowding out or crowding in? World Development, 88, 1–9.
  • FDIC. (1997). History of the eighties - Lessons for the future. Retrieved from https://www.fdic.gov/bank/historical/history/
  • Fowowe, B. (2011). Financial sector reforms and private investment in Sub-Saharan African countries. Journal of Economic Development, 36(3), 79–97.
  • Gevorkyan, A. V., & Kvangraven, I. H. (2016). Assessing recent determinants of borrowing costs in Sub-Saharan Africa. Review of Development Economics, 20(4), 721–738.
  • Ghura, D., & Goodwin, B. (2010). Determinants of private investment: A cross-regional empirical investigation. Applied Economics, 32(14), 1819–1829.
  • IMF. (2014). Sub-Saharan Africa, staying the course. Regional economic outlook, International Monetary Fund, Washington, D.C.
  • IMF. (2017). Seeking sustainable growth: Short-term recovery, long-term challenges. World Economic Outlook October, International Monetary Fund, Washington, D.C.
  • Kurul, Z. (2017). Nonlinear relationship between institutional factors and FDI flows: Dynamic panel threshold analysis. International Review of Economics and Finance, 48, 148–160.
  • Mlambo, K., & Oshikoya, T. W. (2001). Macroeconomic factors and investment in Africa. Journal of African Economies, 10, 12–47.
  • Morrissey, O., & Udomkerdmongkol, M. (2011). Governance, private investment and foreign direct investment in developing countries. World Development, 40, 437–445.
  • Ndikumana, L., & Verick, S. (2008). The linkages between FDI and domestic investment: Unravelling the developmental impact of foreign investment in Sub-Saharan Africa. Development Policy Review, 26(6), 713–726.
  • Oshikoya, T. W. (1994). Macroeconomic determinants of domestic private investment in Africa: An empirical analysis. Economic Development and Cultural Change, 42, 573–596.
  • Prizzon, A., Greenhill, R., & Mustapha, S. (2017). An ‘age of choice’ for development finance? Evidence from country case studies. Development Policy Review, 35, O29–O45.
  • Ravn, M. O., & Uhlig, H. (2002). On adjusting the hodrick-prescott filter for the frequency of observations. The Review of Economics and Statistics, 84(2), 371–376.
  • Sambira, Jocelyne. (2014). Hunting for Eurobonds: Views split on Sub-Saharan Africa’s debut in the inter-national markets. Retrieved from https://www.un.org/africarenewal/magazine/april-2014/hunting-Eurobonds.
  • Senga, C., & Cassimon, D. (2019). Spillovers in Sub-Saharan Africa’s sovereign Eurobond yields. Emerging Markets Finance and Trade, 1–17.
  • Senga, C., Cassimon, D., & Essers, D. (2018). Sub-Saharan African Eurobond yields: What really matters beyond global factors? Review of Development Finance, 8, 49–62.
  • Sy, A. N. (2013). First Borrow: A growing number of countries in sub-Saharan Africa are tapping inter-national capital markets. Finance & Development, 50(2), 52–54.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.