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Interactive Impact of Armed Conflicts on Foreign Direct Investments in Africa

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  • Abel Ebeh Ezeoha
  • John Okereke Ugwu

Abstract

type="main" xml:lang="en"> This study examined the interactive impact of armed conflicts on FDI flows into Africa. A dataset involving 41 African countries and a dynamic system GMM model were adopted. The findings showed that conflict had a significant negative effect on FDIs; and that infrastructural development significantly moderated the impact of conflicts. The study also revealed that the impact of conflict was higher for natural resource-rich countries than for non-resource-rich countries, and that the impact was both regional and seasonal sensitive. The findings suggest that rebuilding conflict-induced infrastructure destructions can play significant role in attracting FDIs even in conflict-prone countries of Africa.

Suggested Citation

  • Abel Ebeh Ezeoha & John Okereke Ugwu, 2015. "Interactive Impact of Armed Conflicts on Foreign Direct Investments in Africa," African Development Review, African Development Bank, vol. 27(4), pages 456-468, December.
    • Handle: RePEc:bla:afrdev:v:27:y:2015:i:4:p:456-468
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    Citations

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    Cited by:

    1. Angela Ujunwa & Chinwe Okoyeuzu & Nelson Nkwor & Augustine Ujunwa, 2021. "Potential Impact of Climate Change and Armed Conflict on Inequality in Sub‐Saharan Africa," South African Journal of Economics, Economic Society of South Africa, vol. 89(4), pages 480-498, December.
    2. Bruno Emmanuel Ongo Nkoa & Luis Jacinto Ela Alene & Ludé Djam'Angai, 2024. "New wave of internal armed conflicts in developing countries: Does inequality of opportunity matter?," African Development Review, African Development Bank, vol. 36(1), pages 15-29, March.
    3. Essosinam Franck Karabou & Komlan Ametowoyo Adeve, 2024. "Empirical investigation of the relationship between terrorism, public debt and economically active women in the ECOWAS zone," Economics Bulletin, AccessEcon, vol. 44(2), pages 528-543.
    4. Edmond Noubissi & Henri Njangang, 2020. "The impact of terrorism on agriculture in African countries," African Development Review, African Development Bank, vol. 32(4), pages 730-743, December.
    5. Abel E. Ezeoha & Chinwe Okoyeuzu & Ama A. Udu & Joseph Edeh, 2018. "Armed Conflicts and Intra‐regional Trade Flows: The Cases of ECOWAS and COMESA," African Development Review, African Development Bank, vol. 30(4), pages 346-361, December.
    6. Mehdi Abid & Habib Sekrafi, 2020. "The impact of terrorism on public debt in African countries," African Development Review, African Development Bank, vol. 32(1), pages 1-13, March.
    7. Xie, En & Reddy, K.S. & Liang, Jie, 2017. "Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions," Journal of World Business, Elsevier, vol. 52(2), pages 127-183.
    8. Chukwudi Emmanuel Edeh & Chidera Godson Eze & Sonia Onyinye Ugwuanyi, 2020. "Impact of foreign direct investment on the agricultural sector in Nigeria (1981–2017)," African Development Review, African Development Bank, vol. 32(4), pages 551-564, December.
    9. Abel Ezeoha & Anthony Igwe & Chinwe Okoyeuzu & Chibuike Uche, 2023. "The fiscal effects of armed conflicts in Africa," African Development Review, African Development Bank, vol. 35(4), pages 444-456, December.
    10. Thales Pacific Yapatake Kossele & Li Jin Shan, 2018. "Economic Security and the Political Governance Crisis in Central African Republic," African Development Review, African Development Bank, vol. 30(4), pages 462-477, December.
    11. Kechagia, Polyxeni & Metaxas, Theodore, 2017. "FDI and Terrorism in the developing Asian countries: A panel data analysis," MPRA Paper 80945, University Library of Munich, Germany.
    12. Bruno Emmanuel Ongo Nkoa & Jacques Simon Song, 2017. "Analyse des effets de la qualité des institutions sur la volatilité des Investissements Directs Etrangers en Afrique," African Development Review, African Development Bank, vol. 29(4), pages 674-688, December.
    13. Metaxas, Theodore & Kechagia, Polyxeni, 2017. "FDI and Terrorism in developing Asia: Approaches and Discussion," MPRA Paper 78165, University Library of Munich, Germany.
    14. Polyxeni, Kechagia & Theodore, Metaxas, 2019. "An empirical investigation of FDI inflows in developing economies: Terrorism as a determinant factor," The Journal of Economic Asymmetries, Elsevier, vol. 20(C).

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