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

38 Pages Posted: 8 Jun 2009

See all articles by Corinne Deléchat

Corinne Deléchat

International Monetary Fund (IMF)

Smita Wagh

International Monetary Fund (IMF)

Gustavo Ramirez

International Monetary Fund (IMF)

John Wakeman-Linn

International Monetary Fund (IMF)

Date Written: May 2009

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.

Keywords: Capital flows, Capital inflows, Cross country analysis, Economic growth, Economic integration, Financial sector, Private sector, Revenue sources, Sub-Saharan Africa

Suggested Citation

Deléchat, Corinne and Wagh, Smita and Ramirez, Gustavo and Wakeman-Linn, John, Sub-Saharan Africa's Integration in the Global Financial Markets (May 2009). Available at SSRN: https://ssrn.com/abstract=1415171 or http://dx.doi.org/10.2139/ssrn.1415171

Corinne Deléchat (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Smita Wagh

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Gustavo Ramirez

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

John Wakeman-Linn

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
98
Abstract Views
687
rank
344,156
PlumX Metrics