The Effects of Capital Flows on Economic Growth in Senegal

Adams, Samuel; Klobodu, Edem Kwame Mensah; Lamptey, Richmond Odartey

doi:10.1177/0973801016687869

Cited by 18 publications

(7 citation statements)

References 50 publications

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“…The result of direct investment having a negative impact on economic growth does not support the endogenous theory propounded by the classical theory that emphasised the importance of direct investment on the growth of the economy and the study also contradicts the findings of [22,5,23] because the findings show that domestic investment in Nigeria has a negative impact on growth in both the short-run and longrun. However, the result supports other studies carried out by [31,32,33] that domestic investment may not necessarily have a favourable impact on economic growth.…”

Section: Discussioncontrasting

confidence: 80%

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Assessment of Domestic Investment, Export Expansion and Economic Performance in Nigeria: A Vector Autoregression Approach

Ozegbe

Yussuff

2022

JEMT

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The purpose of this article is to investigate the nexus between domestic investment, export expansion and economic growth in Nigeria. To achieve this purpose, annual time series data from the period between 1981 and 2018 was tested using the Johansen co-integration analysis, VECM and the Granger-Causality test. The result of the analysis revealed an insignificant relationship between domestic investment and export expansion. Based on the Granger-Causality test, the result indicated a bi-directional relationship between domestic investment and economic growth. These results provide evidence that domestic investment and economic growth are not viewed as sources of export expansion in Nigeria during the period under review. Therefore, changes in policies and regulations to accelerate the export expansion of Nigeria will ultimately yield positive results in terms of achieving high rates of stable economic growth. Policymakers in Nigeria should search for the alternative catalyst to stimulate domestic investment and economic growth geared towards promoting long-term export expansion in Nigeria effectively.

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Section: Discussioncontrasting

confidence: 80%

“…growth nexus [22] examined the effects of capital flows on economic growth in Senegal using autoregressive distributed lag (ARDL) over the period 1970 -2014. The results show that domestic investment has a positive effect on economic growth in the long run.…”

Section: Domestic Investment and Economicmentioning

confidence: 99%

Assessment of Domestic Investment, Export Expansion and Economic Performance in Nigeria: A Vector Autoregression Approach

Ozegbe

Yussuff

2022

JEMT

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“…In order to generate the growth avenues in the host countries through foreign aid, both composition and quantity are important elements (Mavrotas, 2002; Wamboye, Adekola, & Sergi, 2014). Apparently, in Senegal, foreign aid and remittances have influenced economic growth positively in the long run (Adams, Klobodu, & Lamptey, 2017), whereas an empirical study of East European countries suggests that the impact of foreign aid on economic growth over the study period, that is, from 1993 to 2002, has remained insignificant (Bhandari, Dhakal, Pradhan, & Upadhyaya, 2007). Similarly, an analytical study carried by Boone (1996) in 96 countries reveals that foreign aid’s influence on economic growth and poverty alleviation has provided inconclusive outcomes.…”

Section: Estimation Technique and Empirical Examinationmentioning

confidence: 99%

Impact of Selected Macroeconomic Determinants on Economic Growth in India: An Empirical Study

Sharma

Kautish

Kumar

2018

Vision: The Journal of Business Perspective

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Due to the socio-economic, infrastructural and governance peculiarities, identification of key macroeconomic factors determining the economic growth in developing countries becomes a complicated case. The present study attempts to assess the impact of foreign aid, government consumption expenditure, foreign direct investment, trade openness, exchange rate, human capital development, and inflation on economic growth in India by using yearly data for the period of 46 years, that is, from 1971 to 2016. An autoregressive distributed lag (ARDL) bounds model enables to examine the short-run and long-run impact of selected determinants on economic growth during the study period. The outcomes of the study find that in the long run, foreign aid, the government’s final consumption expenditure and foreign direct investment have a positive and significant impact on economic growth, whereas, economic growth has been negatively influenced by exchange rate and human capital development. Contrary to the long run, foreign aid has a negative and significant impact on economic growth in the short run. The short-run outcomes show that all the selected macroeconomic determinants have either negative or positive influence on economic growth. To ensure the long-run economic growth, besides regulating the exchange rate fluctuations, policies related to export -import and human capital development need to be re-examined.

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“…International capital flows play a significant role in a country’s macroeconomic and financial stability framework. Therefore, enormous investigations have been made in the empirical literature connecting capital flows with different macroeconomic and financial variables such as economic growth (Combes et al , 2017; Adams et al , 2017; Kodongo and Ojah, 2017; Adams and Klobodu, 2018; Adekunle and Sulaimon, 2018; Lasbrey et al , 2018; Comes et al , 2018; Bouchoucha and Ali, 2019; Ali and Mna, 2019; Opoku et al , 2019; Ikpesu, 2019). Also, between capital flows and employment and productivity (Baldwin, 1995; Zukowska-Gagelmann, 2000; Liu et al , 2001; Driffield et al , 2009; Girma et al , 2015; Li and Tanna, 2019).…”

Section: Brief Literature Reviewmentioning

confidence: 99%

Effect of capital flows on financial stability in middle-income countries

Ebire

Ullah

Adeleye

et al. 2021

JFRC

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Purpose This study aims to examine the effect of various forms of capital flows on financial stability in middle-income countries from 2010 to 2017 using the World Bank economy classifications of 121 economies. Design/methodology/approach Panel spatial correlation consistent approach was used in this study. Findings The findings provide convincing evidence that in middle-income countries, capital flows are positive and significant predictors of financial stability and that financial systems in advanced economies are more stable than those of emerging and developing countries. However, outward foreign direct investments are shown to have the largest potential for ensuring financial stability. Originality/value Globalization has fostered financial integration of nations, which is manifested in capital flows from lower-income countries to middle-income and upper-income countries and vice versa. These flows can lead to financial instability if not properly controlled. The authors show how the various forms of capital flows affect the financial stability in middle-income countries.

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The Effects of Capital Flows on Economic Growth in Senegal

Cited by 18 publications

References 50 publications

Assessment of Domestic Investment, Export Expansion and Economic Performance in Nigeria: A Vector Autoregression Approach

Assessment of Domestic Investment, Export Expansion and Economic Performance in Nigeria: A Vector Autoregression Approach

Impact of Selected Macroeconomic Determinants on Economic Growth in India: An Empirical Study

Effect of capital flows on financial stability in middle-income countries

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