In this article we depart from the classic model of foreign direct investment (FDI) determinants and examine the effect of socio-historical factors on FDI. We argue that past foreign aid projects confer social capital that constitutes specific resources available to investors in the present,...

While most of the sub-Saharan African countries have been receiving a significant amount of foreign direct investment (FDI) and foreign aid for the last couple of decades, there is no consensus among the researchers about the contribution of FDI and foreign aid to the economic growth of African...

The three main financial inflows to developing countries have largely increased during the last two decades, despite the large debate in the literature regarding their effects on economic growth which is not yet clear-cut. An emerging literature investigates the dependence of their effects on...