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Foreign Capital Flows and Economic Development in Africa
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This collection examines the extent to which foreign capital from OECD member countries and BRICS has benefited the African continent's development over the last two decades. BRICS are still considered non-conventional sources of investment compared to OECD countries, and recent literature has paid little attention to the nature, motives, implications, and effectiveness of BRICS contributions. The contributors to this volume examine various capital sources, from multinational corporations to remittances, and compare the results of investment from each to identify the drivers of Africa's rapid growth and increasing openness to foreign capital. It provides an in-depth analysis of domestic factors - such as policies, infrastructure, innovation, and resource extraction - that determine how foreign capital flow impacts economic development differently across the continent. The book is a valuable resource for academics, policymakers, and practitioners studying the changes taking place in Africa as the content strides more confidently toward integration with the global economy.
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