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Democratic Capital, Democratic Rights and FDI in Sub‐Saharan Africa

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  • Sean Joss Gossel

Abstract

This study investigates the relationship between democratic capital, democratic rights and foreign direct investment (FDI) in 42 Sub‐Saharan African (SSA) countries over the period of 1972–2014. The results show that FDI is affected by the accumulation of democratic capital to a greater extent than by contemporaneous democratic reforms or the components of democracy (civil liberties and political rights). Furthermore, FDI is found to respond positively to the recent accumulation of democratic capital in more democratic SSA countries, to the durable accumulation of democracy in less democratic countries, and by political repression in more democratic countries. Finally, sensitivity analysis shows that although the results are not significantly affected by the extent of resource dependence, they are susceptible to socio‐cultural variations, particularly among the European heritage SSA countries. Copyright © 2017 John Wiley & Sons, Ltd.

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  • Sean Joss Gossel, 2017. "Democratic Capital, Democratic Rights and FDI in Sub‐Saharan Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 29(8), pages 1033-1061, November.
    • Handle: RePEc:wly:jintdv:v:29:y:2017:i:8:p:1033-1061
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    Cited by:

    1. Gossel, Sean Joss, 2018. "FDI, democracy and corruption in Sub-Saharan Africa," Journal of Policy Modeling, Elsevier, vol. 40(4), pages 647-662.
    2. Federico Carril-Caccia & Juliette Milgram-Baleix & Jordi Paniagua, 2019. "Foreign Direct Investment in oil-abundant countries: The role of institutions," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-23, April.
    3. Ofori, Isaac K. & Dossou, Marcel A.M. & Asongu, Simplice A. & Armah, Mark K., 2023. "Bridging Africa’s income inequality gap: How relevant is China’s outward FDI to Africa?," Economic Systems, Elsevier, vol. 47(1).
    4. Federico Carril-Caccia & Juliette Milgram Baleix & Jordi Paniagua, 2019. "The foreign direct investment-institution nexus in oil-abundant countries," Working Papers 1903, Department of Applied Economics II, Universidad de Valencia.
    5. Nvuh‐Njoya Youssouf & Keneck‐Massil Joseph & Yogo Urbain Thierry, 2024. "Constitutional instability and foreign direct investment in Africa," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 32(1), pages 3-23, January.
    6. Fragkiskos Filippaios & Fatima Annan-Diab & Amir Hermidas & Charikleia Theodoraki, 2019. "Political governance, civil liberties, and human capital: Evaluating their effect on foreign direct investment in emerging and developing economies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(7), pages 1103-1129, September.

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