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Dearth of private capital flows in Sub-Saharan Africa

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  • Kausik Chaudhuri
  • D. K. Srivastava

Abstract

This paper offers an empirical investigation of dearth of private capital flows to Sub-Saharan Africa in a context where there is a surge in private capital flows to the rest of the developing countries. Using panel data on thirty Sub-Saharan African countries over the time period from 1986 to 1993, we find that the domestic fundamentals play a crucial role in explaining this phenomenon. Our findings also imply that these countries may begin to receive private inflows if they implement structural policy reforms which will strengthen domestic fundamentals.

Suggested Citation

  • Kausik Chaudhuri & D. K. Srivastava, 1999. "Dearth of private capital flows in Sub-Saharan Africa," Applied Economics Letters, Taylor & Francis Journals, vol. 6(6), pages 365-368.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:6:p:365-368
    DOI: 10.1080/135048599353096
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    References listed on IDEAS

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    1. Chuhan, Punam & Claessens,Constantijn A. & Mamingi,, 1993. "Equity and bond flows to Asia and Latin America : the role of global and country factors," Policy Research Working Paper Series 1160, The World Bank.
    2. Hernandez, Leonardo & Rudolph, Heinz, 1995. "Sustainability of private capital flows to developing countries : Is a generalized reversal likely?," Policy Research Working Paper Series 1518, The World Bank.
    3. Fernandez-Arias, Eduardo, 1996. "The new wave of private capital inflows: Push or pull?," Journal of Development Economics, Elsevier, vol. 48(2), pages 389-418, March.
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    Cited by:

    1. Janet Rubin & Rodrigo Wagner, 2015. "Destroying collateral: asset security and the financing of firms," Applied Economics Letters, Taylor & Francis Journals, vol. 22(9), pages 704-709, June.

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