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

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 res

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Year of publication:	2009
Authors:	Deléchat, Corinne
Other Persons:	Wakeman-Linn, John (contributor) ; Wagh, Smita (contributor) ; Ramirez, Gustavo (contributor)
Publisher:	Washington : International Monetary Fund
Subject:	Subsahara-Afrika \| Sub-Saharan Africa \| Internationaler Finanzmarkt \| International financial market \| Anglofones Afrika \| Anglophone Africa \| Zentralafrika \| Central Africa \| Frankofones Afrika \| Francophone Africa \| Finanzmarkt \| Financial market \| Marktintegration \| Market integration

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Extent:	Online-Ressource (39 p)
Series:	IMF Working Papers IMF working paper ; WP/09/114
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Contents; I. Introduction; Figures; 1. Private Capital Inflows to Sub-Saharan Africa, 2000-07; II. Recent trends in financial globalization in SSA; 2. Global Liquidity; Tables; 1. Private Capital Flows: Volatility; 3. Domestic; 4. Recipients of Private Capital Flows; 5. Top Ten Recipients of Private Capital; III. Determinants of Private Capital Flows to SSA; 6. External Vulnerability; 2. Capital Market Development in Sub-Saharan Africa; A. Recent Literature; B. Estimation strategy and Model; C. Empirical Analysis; 3. Baseline OLS Estimation Results 4. Instrumental Variables Estimation ResultsIV. Do private capital flows have an impact on growth in SSA?; A. Correlation Analysis; 7. Sub-Saharan Africa: Capital Flows and Real GDP Growth; B. Testing channels of transmission of private capital flows on growth; 5. Correlations: Net Capital Flows and Real Growth; 6. Channels of Transmission Between Capital Flows and Growth; C. How do Private Capital Flows Affect Growth?; 7. Estimation Results: Linear Growth Model with Capital Flows; V. Conclusion; Appendices; I. Capital Flows Data; II. Variables Definitions and Sources III. Determinants of Capital Flows: Descriptive Statistics and CorrelationsIV. Private Capital Flows and Growth; References
ISBN:	978-1-4518-7261-3 ; 978-1-4519-1691-1 ; 978-1-4518-7261-3
Source:	ECONIS - Online Catalogue of the ZBW

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