Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa

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dc.contributor.authorKasekende, Louis
dc.contributor.authorKitabire, Damoni
dc.contributor.authorMartin, Matthew
dc.date.accessioned2023-01-03T20:32:56Z
dc.date.available2023-01-03T20:32:56Z
dc.date.issued1999
dc.description.abstractDuring the last three years, there has been an expanding literature on private capital inflows to developing countries. In 1992 and 1993, attention focused on the rise in such inflows, their causes and nature. Gradually, it moved to their potential macroeconomic impact and the policy implications. In 1994 and 1995, following events in Mexico, it has concentrated on the sustainability of the inflows, and the policy implications of potential reversal. Virtually all of the studies have focused on Latin America, though some authors have also examined East Asian experiences. Analysis of Eastern Europe is extremely rare (Calvo, Sahay and Vegh, 1995; Griffith-Jones, 1995), and that of Mrica is virtually non-existent (with the notable exception of the excellent study by Asea and Reinhart, 1995). Even the most comprehensive recent analysis and survey of the literature (Fernandez-Arias and Montiel, 1995) has concluded that there is only impressionistic evidence of private capital inflows to sub-Saharan Mrica, where 'capital inflows have not materialized'. Mrica has continued to be analysed from the point of view that most of its capital inflows causing 'Dutch Disease' effects are aid inflows (see, for example, Younger, 1992). The key areas examined in the literature have been the scale and composition of private capital inflows, their causes and sustainability, their effects on macroeconomic stability, and their responsiveness to policy measures.en_US
dc.identifier.citationKasekende, L., Kitabire, D., & Martin, M. (1999). Capital inflows and macroeconomic policy in sub-Saharan Africa. In Capital Account Regimes and the Developing Countries (pp. 141-183). Palgrave Macmillan, London.en_US
dc.identifier.urihttps://link.springer.com/chapter/10.1007/978-1-349-15071-7_4
dc.identifier.urihttps://nru.uncst.go.ug/handle/123456789/6782
dc.language.isoenen_US
dc.publisherPalgrave Macmillanen_US
dc.subjectCapital Inflowsen_US
dc.subjectMacroeconomic Policyen_US
dc.subjectSub-Saharan Africaen_US
dc.titleCapital Inflows and Macroeconomic Policy in Sub-Saharan Africaen_US
dc.typeOtheren_US
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