Foreign Capital Flows and Economic Development in Africa

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.ContributorsSamuel Adams, Ghana Institute of Management and Public AdministrationVito Amendolagine, University of Pavia, ItalyNihal Bayraktar, Pennsylvania State University, Harrisburg, USAAklog Birara, Ethiopian Dialogue Forum, USAPádraig Carmody, Trinity College Dublin, IrelandNicola Coniglio, University of Bari, ItalyXinshen Diao, International Food Policy Research Institute, USAKenechukwu Ezemenari, The World Bank, USAElizabeth Fraser, The Oakland Institute, USAKiril Tochkov, Texas Christian University, USAOdongo Kodongo, Wits Business School, South AfricaAdugna Lemi, University of Massachusetts, Boston, USAEduard Marinov, Bulgarian Academy of SciencesKelbesa Megersa, University of Antwerp, BelgiumAnuradha Mittal, The Oakland Institute, USAEmmanuel Moreira, The World Bank, USAJames Murphy, Clark University, USANedyalko Nestorov, Bulgarian Academy of SciencesDavid O'Brien, International Development Research Centre, CanadaKalu Ojah, Wits Business School, South AfricaEric Opoku, City University of Hong KongPatrick N. Osakwe, United Nations Conference on Trade and Development, SwitzerlandAdnan Seric, United Nations Industrial Development Organization, AustriaMeine Pieter van Dijk, Maastricht School of Management, NetherlandsKasahun Woldemariam, Spelman College, USAMesfin Wolde-Mariam, EthiopiaZelealem Yiheyis, Clark Atlanta University, USA

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

Explores the influence of BRICS countries' capital in Africa

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.