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Foreign Direct Investment, Sectoral Effects and Economic Growth in Africa

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  • Eric Evans Osei Opoku
  • Muazu Ibrahim
  • Yakubu Awudu Sare

Abstract

Earlier studies on the impact of Foreign Direct Investment (FDI) on economic growth have not been instructive largely on their failure to examine the sectoral transmission channels through which FDI affects growth. We re-examine the impact of FDI on economic growth in Africa using the system generalized method of moments. The results reveal that, while FDI positively and unconditionally spurs economic growth, its growth-enhancing effect is imaginary when the conditional sectoral effects are introduced. On the channels of manifestation, we notice that the pass-through impact of FDI is only significant for the agricultural and service sectors.

Suggested Citation

  • Eric Evans Osei Opoku & Muazu Ibrahim & Yakubu Awudu Sare, 2019. "Foreign Direct Investment, Sectoral Effects and Economic Growth in Africa," International Economic Journal, Taylor & Francis Journals, vol. 33(3), pages 473-492, July.
    • Handle: RePEc:taf:intecj:v:33:y:2019:i:3:p:473-492
    DOI: 10.1080/10168737.2019.1613440
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