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

zlib/no-category/Wamboye, Evelyn; Tiruneh, Esubalew Alehegn/Foreign Capital Flows and Economic Development in Africa ||_96200445.pdf

Wamboye, Evelyn; Tiruneh, Esubalew Alehegn

Hertie School of

Macmillan Education UK

Springer Nature

Red Globe Press

United Kingdom and Ireland, United Kingdom

Springer Nature, New York, NY, 2017

10.1057/97, 2017

1, 20170316

sm64186508

This proposed book intends to provide a reference resource to showcase insightful perspectives on the 21st century realities of foreign capital flow and their implications on the economic development of Africa. The foreign capital sources will constitute foreign direct investment (multinational corporations and, small and medium multinational enterprises), development aid, remittances and foreign debt. Our main goal and novel1 contribution to the literature will be to answer a question that has never been asked before 'Who benefits Africa more in the 21st century, the BRICS2 or OECD3 countries?' Effectiveness of foreign capitals from conventional sources (OECD countries) will be analyzed and compared to those from non-conventional sources (BRICS countries) that have gained prominence in recent years. The book will offer hard-headed prognosis on the state of Africa's external financial resources and how to facilitate efficient policies necessary for meaningful, sustained and inclusive growth. It will provide an in-depth analysis of fundamental domestic factors [such as information and communication technologies (ICTs) and non-ICTs infrastructure development (socio-economic infrastructures); policies; financial sector liberalization and access to financial resources; innovation, research and development and; resource extraction] that determine how foreign capital flow impact economic development in Africa with differential effects across the continent. We expect the outcome of this book to be profoundly refreshing with evident methodological pluralism and conceptual reflexivity. Our vision is to deliver a comprehensive work of reference to be cited as an authoritative source on the subject. This title will have a particular relevance and resonance with the changes currently taking place in Africa as the continent strides out more confidently towards effective integration in the global economy. We envision a volume of compelling academic and policy significance.

2017-05-02