Foreign Capital Flows and Economic Development in Africa: The Impact of BRICS versus OECD

by Evelyn Wamboye (Editor), Esubalew Alehegn Tiruneh (Editor)

Overview

This collection examines the extent to which foreign capital from conventional (OECD countries) and non-conventional (BRICS) sources has impacted economic development in Africa over the last two decades. It provides in-depth analyses of the nature, motives, and implications of this capital, and identifies drivers of contemporary rapid growth within and across African countries. Authored by leading experts, the book offers original insights for academics, policymakers, and practitioners studying the changes taking place in Africa as the continent strides more confidently toward integration with the global economy.

The major themes addressed in this book include:
• The implications of growing Chinese engagement in Africa
• BRICS countries' versus OECD countries' investment contributions to Africa
• The politics of land, land grab, and the puzzle of inclusive development in Africa
• Foreign research and development spillovers, trade linkages, and productivity in Africa
• Foreign aid effects on social sector, growth, and structural change in Africa
• Remittances, foreign debt, resource management, and economic development in Africa

Product Details

ISBN-13:	9781137534958
Publisher:	Palgrave Macmillan US
Publication date:	03/17/2017
Edition description:	1st ed. 2017
Pages:	514
Product dimensions:	5.83(w) x 8.27(h) x (d)

About the Author

Evelyn Wamboye is Associate Professor of Economics at the Pennsylvania State University in DuBois, USA. Her research areas include foreign capital, outsourcing, technological change, and issues in international development. She has published numerous articles in refereed journals. She has a PhD in Economics from the University of Wisconsin-Milwaukee, USA.

Esubalew Alehegn Tiruneh is Faculty in the Economics Department at Birmingham-Southern College, USA. His research interests and publications include issues related to economic development, foreign capital, innovation and growth, international development, and poverty. He received his PhD in Economic Development from the University of Trento, Italy.

Contributors

Samuel Adams, Ghana Institute of Management and Public Administration

Vito Amendolagine, University of Pavia, Italy

Nihal Bayraktar, Pennsylvania State University, Harrisburg, USA

Aklog Birara, Ethiopian Dialogue Forum, USA

Danny Cassimon, University of Antwerp, Belgium

Pádraig Carmody, Trinity College Dublin, Ireland

Nicola Coniglio, University of Bari, Italy

Xinshen Diao, International Food Policy Research Institute, USA

Kenechukwu Ezemenari, The World Bank, USA

Elizabeth Fraser, The Oakland Institute, USA

Kiril Tochkov, Texas Christian University, USA

Odongo Kodongo, Wits Business School, South Africa

Adugna Lemi, University of Massachusetts, Boston, USA

Eduard Marinov, Bulgarian Academy of Sciences

Kelbesa Megersa, University of Antwerp, Belgium

Anuradha Mittal, The Oakland Institute, USA

Emmanuel Moreira, The World Bank, USA

James Murphy, Clark University, USA

Nedyalko Nestorov, Bulgarian Academy of Sciences

David O’Brien, International Development Research Centre, Canada

Kalu Ojah, Wits Business School, South Africa

Eric Opoku, City University of Hong Kong

Patrick N. Osakwe, United Nations Conference on Trade and Development, Switzerland

Adnan Seric, United Nations Industrial Development Organization, Austria

Meine Pieter van Dijk, Maastricht School of Management, Netherlands

Kasahun Woldemariam, Spelman College, USA

Mesfin Wolde-Mariam, Ethiopia

Zelealem Yiheyis, Clark Atlanta University, USA

Table of Contents

1. Exploring the Nature, Motives, and Implications of Foreign Capital in Africa.- 2. The Impact of China and South Africa in Urban Africa.- 3. China's Financial and Aid Flows into Africa and their Effects.- 4. Enhancing the Impact of Chinese Development Finance for Sustained Poverty Alleviation.- 5. Foreign Direct Investment and Structural Change: Does the Origin of Investors Matter?.- 6. BRICS' versus G7 Countries' Direct Investment Impact.- 7. BRICS' versus OECD's Foreign Direct Investment Impact on Development.- 8. Cross-Border Capital Flows and Economic Performance: A Sectoral Analysis.- 9. The Concept of Land in Ethiopian Tradition: Land, Power, and Famine.- 10. Your Next "Landlord" Will Not Be Ethiopian: How Globalization Undermines the Poor.- 11. The Truth about Land Grabs: A Review of the Oakland Institute’s Reports on Large-Scale Land Investments in the Twenty-First Century.- 12. International R&D Spillovers and LaborProductivity.- 13. Development Aid and International Trade in Sub-Saharan Africa: The EU versus China.- 14. Changing International Trade Linkages in Sub-Saharan Africa: BRIC versus OECD Countries.- 15. The Growth Impact of Aid Quantity and Quality.- 16. The Role of Foreign Aid in the Fast-Growing Rwandan Economy: Assessing Growth Alternatives.- 17. Anatomy of Foreign Aid in Ethiopia.- 18. Remittances and Economic Development: A Review of the Empirical Evidence.- 19. Have Debt Relief Initiatives Yielded Varying Impact in Resource and Non-Resource Endowed Countries?.- 20. Debt Sustainability and Direction of Trade: What does Africa’s Shifting Engagement with BRIC and OECD Countries Tell Us?.- 21. Managing Resource Price Volatility: Exploring Policy Options for the Democratic Republic of Congo.