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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:What drives foreign direct investments into West Africa? An empirical investigation
Authors:Anyanwu, John C.ISNI
Yameogo, Nadege D.
Year:2015
Periodical:African Development Review (ISSN 1467-8268)
Volume:27
Issue:3
Pages:199-215
Language:English
Geographic term:West Africa
Subject:foreign investments
External link:https://doi.org/10.1111/1467-8268.12141
Abstract:This paper analyzed drivers of foreign direct investments (FDI) to West Africa using a panel dataset from 1970 to 2010. OLS and GMM techniques are used for the estimations. The main results indicate that there is a U-shaped relationship between economic development and FDI inflows to West Africa. In summary: (i) The quadratic element of real per capita GDP, domestic investment, trade openness, first year lag of FDI, natural resources (oil and metals) endowment and exports, and monetary integration have positive and significant effect on FDI inflows to West Africa; and (ii) there is a negative relationship between FDI inflows to the sub-region and loan component of ODA, economic growth, level of economic development (real GDP per capita), life expectancy, and domestic credit to the private sector. Bibliogr., notes, ref., sum. [Journal abstract]
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