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Financial Integration and Economic Growth: Portfolio Equity Flows to Sub-Saharan Africa

In: Regional Integration and Policy Challenges in Africa

Author

Listed:
  • Eric Osei-Assibey
  • Seth Obeng Adu

Abstract

Financial globalization and the financial crises of recent times have drawn the attention of economists and policy-makers to the macroeconomic implications of unrestricted capital flows into developing countries. The neoclassical theory predicts the potential benefits of financial integration, but the empirical evidence of real benefits to long-term macroeconomic growth remains highly contested (Prasad et al., 2003).

Suggested Citation

  • Eric Osei-Assibey & Seth Obeng Adu, 2015. "Financial Integration and Economic Growth: Portfolio Equity Flows to Sub-Saharan Africa," Palgrave Macmillan Books, in: Adam B. Elhiraika & Allan C. K. Mukungu & Wanjiku Nyoike (ed.), Regional Integration and Policy Challenges in Africa, chapter 7, pages 145-167, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-46208-4_8
    DOI: 10.1057/9781137462084_8
    as

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