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 de...

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Bibliographic Details
Main Author: Delechat, Corinne
Other Authors: Ramirez, Gustavo, Wagh, Smita, Wakeman-Linn, John
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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100 1 |a Delechat, Corinne 
245 0 0 |a Sub-Saharan Africa's Integration in the Global Financial Markets  |c Corinne Delechat, John Wakeman-Linn, Smita Wagh, Gustavo Ramirez 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2009 
300 |a 38 pages 
651 4 |a South Africa 
653 |a Long-term Capital Movements 
653 |a International Investment 
653 |a Financial Aspects of Economic Integration 
653 |a Financial Markets and the Macroeconomy 
653 |a Financial sector development 
653 |a Balance of payments 
653 |a Capital flows 
653 |a International economics 
653 |a Corporate Finance and Governance 
653 |a Institutions and Growth 
653 |a Foreign direct investment 
653 |a Financial markets 
653 |a Economywide Country Studies: Africa 
653 |a Finance: General 
653 |a Saving and Capital Investment 
653 |a Investments, Foreign 
653 |a Financial services industry 
653 |a Capital movements 
653 |a Finance 
653 |a Private capital flows 
653 |a Exports and Imports 
653 |a Economic Development: Financial Markets 
653 |a Capital inflows 
653 |a Economic Growth of Open Economies 
700 1 |a Ramirez, Gustavo 
700 1 |a Wagh, Smita 
700 1 |a Wakeman-Linn, John 
041 0 7 |a eng  |2 ISO 639-2 
989 |b IMF  |a International Monetary Fund 
490 0 |a IMF Working Papers 
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082 0 |a 330 
520 |a 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