06394oam 22013454 450 991095718670332120250426110051.097866128432979781462387052146238705597814527016391452701636978145187261314518726159781282843295128284329X(CKB)3170000000055271(EBL)1608304(SSID)ssj0000943265(PQKBManifestationID)11550393(PQKBTitleCode)TC0000943265(PQKBWorkID)10974719(PQKB)10976566(OCoLC)644162938(IMF)WPIEE2009114(MiAaPQ)EBC1608304(IMF)WPIEA2009114WPIEA2009114(EXLCZ)99317000000005527120020129d2009 uf 0engurcn|||||||||txtccrSub-Saharan Africa's Integration in the Global Financial Markets /Corinne Delechat, John Wakeman-Linn, Smita Wagh, Gustavo Ramirez1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (39 p.)IMF Working Papers"May 2009."9781451916911 1451916914 Includes bibliographical references.Contents; I. Introduction; Figures; 1. Private Capital Inflows to Sub-Saharan Africa, 2000-07; II. Recent trends in financial globalization in SSA; 2. Global Liquidity; Tables; 1. Private Capital Flows: Volatility; 3. Domestic; 4. Recipients of Private Capital Flows; 5. Top Ten Recipients of Private Capital; III. Determinants of Private Capital Flows to SSA; 6. External Vulnerability; 2. Capital Market Development in Sub-Saharan Africa; A. Recent Literature; B. Estimation strategy and Model; C. Empirical Analysis; 3. Baseline OLS Estimation Results4. Instrumental Variables Estimation Results IV. Do private capital flows have an impact on growth in SSA?; A. Correlation Analysis; 7. Sub-Saharan Africa: Capital Flows and Real GDP Growth; B. Testing channels of transmission of private capital flows on growth; 5. Correlations: Net Capital Flows and Real Growth; 6. Channels of Transmission Between Capital Flows and Growth; C. How do Private Capital Flows Affect Growth?; 7. Estimation Results: Linear Growth Model with Capital Flows; V. Conclusion; Appendices; I. Capital Flows Data; II. Variables Definitions and SourcesIII. Determinants of Capital Flows: Descriptive Statistics and CorrelationsIV. Private Capital Flows and Growth; ReferencesThe paper uses a unique database covering 44 countries in sub-Saharan Africa (SSA) countries between 2000 and 2007 to study the determinants of the allocation and composition of flows across countries, as well as channels through which private capital flows could affect growth. In our sample, the degree of financial market development is an important determinant of the distribution of capital flows across countries as opposed to property rights institutions. The fairly consistent positive association between net capital flows and growth for SSA countries contrasts with the more pessimistic results of recent studies, though our data do not allow us to make conclusive inferences about a causality relationship.IMF Working Papers; Working Paper ;No. 2009/114Capital movementsAfrica, Sub-SaharanEconomic developmentAfrica, Sub-SaharanInternational financeBalance of paymentsimfCapital flowsimfCapital inflowsimfCapital movementsimfCorporate Finance and GovernanceimfEconomic Development: Financial MarketsimfEconomic Growth of Open EconomiesimfEconomywide Country Studies: AfricaimfExports and ImportsimfFinanceimfFinance: GeneralimfFinancial Aspects of Economic IntegrationimfFinancial Markets and the MacroeconomyimfFinancial marketsimfFinancial sector developmentimfFinancial services industryimfForeign direct investmentimfInstitutions and GrowthimfInternational economicsimfInternational InvestmentimfInvestments, ForeignimfLong-term Capital MovementsimfPrivate capital flowsimfSaving and Capital InvestmentimfSouth AfricaimfCapital movementsEconomic developmentInternational finance.Balance of paymentsCapital flowsCapital inflowsCapital movementsCorporate Finance and GovernanceEconomic Development: Financial MarketsEconomic Growth of Open EconomiesEconomywide Country Studies: AfricaExports and ImportsFinanceFinance: GeneralFinancial Aspects of Economic IntegrationFinancial Markets and the MacroeconomyFinancial marketsFinancial sector developmentFinancial services industryForeign direct investmentInstitutions and GrowthInternational economicsInternational InvestmentInvestments, ForeignLong-term Capital MovementsPrivate capital flowsSaving and Capital Investment332;332.042;332/.042Delechat Corinne1816155Ramirez Gustavo1816156Wagh Smita1816079Wakeman-Linn John1816157International Monetary Fund.African Dept.DcWaIMFBOOK9910957186703321Sub-Saharan Africa's Integration in the Global Financial Markets4371897UNINA