This study examines the interaction effects of foreign capital inflows and financial development on economic welfare in sub-Saharan Africa (SSA). Estimates based on the system-GMM estimator using panel data on 23 SSA countries for 2000 to 2013 establish several results. First, the interaction between foreign capital inflows and financial development positively affects economic welfare in SSA. However, this effect was negative after one year. Second, the partial indirect effects of foreign capital inflows on economic welfare, conditional on the level of financial development, are positive, though they become negative after one year. Third, the total effect of foreign capital inflows on economic welfare is positive. The effect becomes negative after a year, though the predominant source of financial development is domestic credit. The consistency of these results indicates the importance of financial development in transmitting foreign capital to economic welfare enhancement. Developing the SSA's financial sector to meet specific welfare-enhancing demands may potentially convert a large share of capital inflows into improved economic welfare and eliminate the negative effects.

No abstract

No abstract

Background Investment in primary health care (PHC) to achieve universal health coverage (UHC) and better health outcomes remains a key global health agenda. This study aimed to assess the effects of PHC spending on UHC and health outcomes. Methods The study used the Grossman Health Production Model and conducted econometric analyses using panel data from 2016 to 2019 covering 34 countries in SSA. Fixed and random effects panel regression models were used for the analyses. All the analyses in this study were carried out using the statistical software package STATA Version 15. Results We found that PHC expenditure has a positive significant but inelastic effect on UHC and life expectancy at birth and a negative effect on infant mortality. Both the fixed and random effects models provided a robust relationship between PHC expenditure and UHC and health outcomes. Education, access to an improved water source, and the age structure of the population were found to be strongly associated with health outcomes. Conclusion The inelastic nature of the PHC expenditure means that the UHC goal might only be achieved at high levels of PHC expenditure. This implies that policymakers must make conscious effort to increase PHC expenditure to ensure the attainment of the UHC goal.

This study examines the effect of foreign capital inflow on domestic credit to the private sector in sub‐Saharan Africa (SSA). Estimates based on the system‐generalized method of moments, Pooled Mean Group and fully modified OLS estimators using panel data on 33 SSA countries from 1996 to 2019 establish the following results. First, foreign direct investment (FDI) positively affects domestic credit in the short and long run. Second, the effect of official credit on domestic credit is negative in the short and long run. Third, the US Treasury Bill rate negatively relates to domestic credit to the private sector in the short and long run. Improving policies to enhance the favourable effect of FDI on domestic credit may reduce borrowing from official sources to eliminate its undesirable effect.