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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:NEPAD and the capital flows initiative: can Africa walk the walk?
Author:Loots, ElsabéISNI
Periodical:South African Journal of Economics
Geographic term:Africa
Subjects:capital movements
External link:https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2005.00001.x/pdf
Abstract:The NEPAD framework envisaged that the mobilization of resources to reverse Africa's marginalization would be undertaken through two mainstream initiatives, namely, the capital flows initiative and the market access initiative. The capital flows initiative emphasizes the importance of increases in domestic resource mobilization, debt relief, official development assistance and FDI flows as measures to enhance the mobilization of resources. A literature overview discusses the historical and current debate on African growth by highlighting the significance of capital flows as determinants of growth. This is followed by an analysis of the volatility of capital flows since the 1970s. Against this background, the composition of and long-term trends in the various capital flow components as identified by NEPAD are discussed. In this respect particular attention is paid to recent research on the efficiency of official development assistance and the determinants of foreign direct investment. Bibliogr., notes, ref., sum. [ASC Leiden abstract]