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Muazu Ibrahim,Ibrahim Osman Adam,Yakubu Awudu Sare 세종대학교 경제통합연구소 2019 Journal of Economic Integration Vol.34 No.2
Studies on the drivers of Foreign Direct Investment (FDI) in Africa have not rigorously examined whether recent advances in the continent’s Information, Communication and Technology (ICT) infrastructure and financial development have any role in attracting foreign capital. This study re-examines the determinants of FDI inflows, paying special attention to the ICT and financial sector environments. By relying on a panel dataset covering 46 countries in sub-Saharan Africa over the period 1980~2016, using the generalized method of moments (GMM) method, our study shows that well–developed ICT infrastructure robustly spurs FDI regardless of the measure of ICT. On the other hand, the impact of domestic financial development on FDI is conditioned on the proxy of finance. Specifically, while domestic (private) credit to GDP inhibits (promotes) foreign capital inflows, higher levels of ICT in the environment dampen the deleterious effect of finance on FDI. We document the threshold levels of ICT necessary to exert such dampening effects.
Muazu Ibrahim,Ibrahim Osman Adam,Yakubu Awudu Sare 세종대학교 경제통합연구소 2019 Journal of Economic Integration Vol.34 No.1
Studies on the drivers of Foreign Direct Investment (FDI) in Africa have not rigorously examined whether recent advances in the continent’s Information, Communication and Technology (ICT) infrastructure and financial development have any role in attracting foreign capital. This study re-examines the determinants of FDI inflows, paying special attention to the ICT and financial sector environments. By relying on a panel dataset covering 46 countries in sub-Saharan Africa over the period 1980~2016, using the generalized method of moments (GMM) method, our study shows that well–developed ICT infrastructure robustly spurs FDI regardless of the measure of ICT. On the other hand, the impact of domestic financial development on FDI is conditioned on the proxy of finance. Specifically, while domestic (private) credit to GDP inhibits (promotes) foreign capital inflows, higher levels of ICT in the environment dampen the deleterious effect of finance on FDI. We document the threshold levels of ICT necessary to exert such dampening effects.
Foreign Direct Investment, Sectoral Effects and Economic Growth in Africa
Eric Evans Osei Opoku,Muazu Ibrahim,Yakubu Awudu Sare 한국국제경제학회 2019 International Economic Journal Vol.33 No.3
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.