Foreign Capital Flows and Economic Development in Africa (eBook)

Evelyn Wamboye is Associate Professor of Economics at the Pennsylvania State University in DuBois, USA. Her research areas include foreign capital, outsourcing, technological change, and issues in international development. She has published numerous articles in refereed journals. She has a PhD in Economics from the University of Wisconsin-Milwaukee, USA.Esubalew Alehegn Tiruneh is Faculty in the Economics Department at Birmingham-Southern College, USA. His research interests and publications include issues related to economic development, foreign capital, innovation and growth, international development, and poverty. He received his PhD in Economic Development from the University of Trento, Italy.ContributorsSamuel Adams, Ghana Institute of Management and Public AdministrationVito Amendolagine, University of Pavia, ItalyNihal Bayraktar, Pennsylvania State University, Harrisburg, USAAklog Birara, Ethiopian Dialogue Forum, USAPádraig Carmody, Trinity College Dublin, IrelandNicola Coniglio, University of Bari, ItalyXinshen Diao, International Food Policy Research Institute, USAKenechukwu Ezemenari, The World Bank, USAElizabeth Fraser, The Oakland Institute, USAKiril Tochkov, Texas Christian University, USAOdongo Kodongo, Wits Business School, South AfricaAdugna Lemi, University of Massachusetts, Boston, USAEduard Marinov, Bulgarian Academy of SciencesKelbesa Megersa, University of Antwerp, BelgiumAnuradha Mittal, The Oakland Institute, USAEmmanuel Moreira, The World Bank, USAJames Murphy, Clark University, USANedyalko Nestorov, Bulgarian Academy of SciencesDavid O’Brien, International Development Research Centre, CanadaKalu Ojah, Wits Business School, South AfricaEric Opoku, City University of Hong KongPatrick N. Osakwe, United Nations Conference on Trade and Development, SwitzerlandAdnan Seric, United Nations Industrial Development Organization, AustriaMeine Pieter van Dijk, Maastricht School of Management, NetherlandsKasahun Woldemariam, Spelman College, USAMesfin Wolde-Mariam, EthiopiaZelealem Yiheyis, Clark Atlanta University, USA

PART I: INTRODUCTION1. Exploring the Nature, Motives, and Implications of Foreign Capital in Africa; Evelyn Wamboye, Esubalew Alehegn Tiruneh PART II: GROWING CHINESE ENGAGEMENT: MOTIVES AND IMPLICATIONS2. The Impact of China and South Africa in Urban Africa; Pádraig Carmody, James T. Murphy3. China's Financial and Aid Flows into Africa and their Effects; Meine Pieter van Dijk4. Enhancing the Impact of Chinese Development Finance for Sustained Poverty Alleviation; Patrick N. OsakwePART III: UNDERSTANDING BRICS' VERSUS OECD COUNTRIES' INVESTMENTS IN AFRICA5. Foreign Direct Investment and Structural Change: Does the Origin of Investors Matter?; Vito Amendolagine, Nicola D. Coniglio, Adnan Seric6. BRICS' versus G7 Countries' Direct Investment Impact; Kenechukwu Ezemenari, Esubalew Alehegn Tiruneh, Evelyn Wamboye7. BRICS' versus OECD's Foreign Direct Investment Impact on Development; Samuel Adams, Eric Evans Osei Opoku8. Cross-Border Capital Flows and Economic Performance: A Sectoral Analysis; Odongo Kodongo, Kalu OjahPART IV: THE POLITICS OF LAND, LAND GRABS, AND THE DEVELOPMENT PUZZLE9. The Concept of Land in Ethiopian Tradition: Land, Power, and Famine; Mesfin Wolde-Mariam10. Your Next "Landlord" Will Not Be Ethiopian: How Globalization Undermines the Poor; Aklog Birara11. The Truth about Land Grabs: A Review of the Oakland Institute’s Reports on Large-Scale Land Investments in the Twenty-First Century; Elizabeth Fraser, Anuradha MittalPART V: INTERNATIONAL R&D, TRADE LINKAGES AND ECONOMIC DEVELOPMENT IN AFRICA12. International R&D Spillovers and Labor Productivity; Esubalew Alehegn Tiruneh, Evelyn Wamboye, David O’Brien13. Development Aid and International Trade in Sub-Saharan Africa: The EU versus China; Eduard Marinov, Nedyalko Nestorov14. Changing International Trade Linkages in Sub-Saharan Africa: BRIC versus OECD Countries; Nihal BayraktarPART VI: REVISITING THE EFFECT OF AID ON GROWTH, THE SOCIAL SECTOR, AND STRUCTURAL CHANGE15. The Growth Impact of Aid Quantity and Quality; Evelyn Wamboye; Kiril Tochkov16. The Role of Foreign Aid in the Fast-Growing Rwandan Economy: Assessing Growth Alternatives; Xinshen Diao17. Anatomy of Foreign Aid in Ethiopia; Adugna Lemi PART VII: REMITTANCES, DEBT, RESOURCE MANAGEMENT, AND ECONOMIC DEVELOPMENT18. Remittances and Economic Development: A Review of the Empirical Evidence; Kassahun Woldemariam, Zelealem Yiheyis19. Have Debt Relief Initiatives Yielded Varying Impact in Resource and Non-Resource Endowed Countries?; Esubalew Alehegn Tiruneh, Evelyn Wamboye20. Debt Sustainability and Direction of Trade: What does Africa’s Shifting Engagement with BRIC and OECD Countries Tell Us?; Megersa Kelbesa, Danny Cassimon21. Managing Resource Price Volatility: Exploring Policy Options for the Democratic Republic of Congo; Emmanuel Pinto Moreira