Private capital flows to Africa / Nils Bhinda  

Public ISBD Titre : Private capital flows to Africa : perception and reality Type de document : texte imprimé Auteurs : Nils Bhinda, Auteur Editeur : Den Haag : FONDAD Année de publication : 1999 Importance : 178 p Langues : Anglais (eng) Catégories : Afrique Tags : Flux des capitaux  IDE  Investissements  Afrique Index. décimale : 09.02 Afrique Résumé : Why study private capital flows to Sub-Saharan Africa? For the last two decades, international financial markets have perceived most of Africa as a “basket case” region. When the research underlying this book began (in 1996), donors, international organisations, investors and even African governments did not believe that private flows to Africa were significant or increasing. Yet senior African government officials from 14 African countries, and especially South Africa, Tanzania, Uganda, Zambia and Zimbabwe, were telling a different story. They knew that a surge of flows to emerging markets, and the liberalisation of their economies, were prompting unprecedented inflows of private capital. These flows — and their occasional sharp reversals — were having dramatic macroeconomic effects and demanding urgent policy responses. But with few data on the level or composition of these flows, and no thorough analysis of their causes and effects, African governments were virtually powerless to react. It is their convictions and hard work which have made this book possible. The Swedish and Danish governments had the sense to listen to them, and we are also most grateful for their sponsorship of this research. In setting out to explore and explain the dichotomy between international perception and African reality, we had to use an innovative methodology. Most of the literature on private capital flows has used international data sets to analyse their scale, composition, causes, sustainability, macroeconomic effects and policy responses, using largely econometric methods. It has focussed particularly on the so-called external or “push” factors which motivate the flows — mainly US interest rate trends and subjective sentiment-based factors in international markets (for a more comprehensive literature survey see Martin, Griffith-Jones, Kasekende and Kitabire 1995). We realised rapidly that international data sets were not tracking the increase in private flows to Africa, and that most of their causes were region- or country-specific.(…) En ligne : http://www.development-finance.org/pt/component/docman/doc_download/758-fondad-f [...] Private capital flows to Africa : perception and reality [texte imprimé] / Nils Bhinda, Auteur . - Den Haag : FONDAD, 1999 . - 178 p. Langues : Anglais (eng) Catégories : Afrique Tags : Flux des capitaux  IDE  Investissements  Afrique Index. décimale : 09.02 Afrique Résumé : Why study private capital flows to Sub-Saharan Africa? For the last two decades, international financial markets have perceived most of Africa as a “basket case” region. When the research underlying this book began (in 1996), donors, international organisations, investors and even African governments did not believe that private flows to Africa were significant or increasing. Yet senior African government officials from 14 African countries, and especially South Africa, Tanzania, Uganda, Zambia and Zimbabwe, were telling a different story. They knew that a surge of flows to emerging markets, and the liberalisation of their economies, were prompting unprecedented inflows of private capital. These flows — and their occasional sharp reversals — were having dramatic macroeconomic effects and demanding urgent policy responses. But with few data on the level or composition of these flows, and no thorough analysis of their causes and effects, African governments were virtually powerless to react. It is their convictions and hard work which have made this book possible. The Swedish and Danish governments had the sense to listen to them, and we are also most grateful for their sponsorship of this research. In setting out to explore and explain the dichotomy between international perception and African reality, we had to use an innovative methodology. Most of the literature on private capital flows has used international data sets to analyse their scale, composition, causes, sustainability, macroeconomic effects and policy responses, using largely econometric methods. It has focussed particularly on the so-called external or “push” factors which motivate the flows — mainly US interest rate trends and subjective sentiment-based factors in international markets (for a more comprehensive literature survey see Martin, Griffith-Jones, Kasekende and Kitabire 1995). We realised rapidly that international data sets were not tracking the increase in private flows to Africa, and that most of their causes were region- or country-specific.(…) En ligne : http://www.development-finance.org/pt/component/docman/doc_download/758-fondad-f [...]

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