Private Capital Flows to Sub-Saharan Africa: An Overview of Trends and Determinants

EXTERNAL FINANCE FOR LOW-INCOME COUNTRIES, Z. Iqbal and R. Kanbur, eds., International Monetary Fund, Washington, D.C., 1997

Posted: 23 Sep 2009 Last revised: 24 Sep 2009

See all articles by Peter J. Montiel

Peter J. Montiel

Williams College - Department of Economics

Amar Bhattacharya

World Bank

Sunil Sharma

George Washington University - Elliott School of International Affairs

Date Written: 1997

Abstract

The surge in private capital flows to developing countries during the 1990s has largely by-passed sub-Saharan Africa. In sharp contrast to the earlier lending boom of 1977-82, when sub-Saharan Africa accounted for 8.9 percent of total private flows to developing countries, the region accounted for only 1.6 percent of such flows during the period 1990-95.However, this low share of international private flows during the 1990s masks significant differences among countries and types of flows.This paper provides an overview of trends in private flows to highlight both common features and differences within the region, and undertakes an analysis of the macroeconomic factors that have influenced private flows to the region.

Suggested Citation

Montiel, Peter J. and Bhattacharya, Amar and Sharma, Sunil, Private Capital Flows to Sub-Saharan Africa: An Overview of Trends and Determinants (1997). EXTERNAL FINANCE FOR LOW-INCOME COUNTRIES, Z. Iqbal and R. Kanbur, eds., International Monetary Fund, Washington, D.C., 1997. Available at SSRN: https://ssrn.com/abstract=1474216

Peter J. Montiel

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Amar Bhattacharya

World Bank

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Sunil Sharma (Contact Author)

George Washington University - Elliott School of International Affairs ( email )

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