Financial Economics

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Browsing Financial Economics by Subject ", Openness to capital flows,"

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    The Role of Property Rights in the Relationship between Openness to International Capital Flows and Economic Growth in Sub-Saharan Africa Countries: An Estimate from Non-Stationary Panel Data
    (African Economic Research consortium, 2017-03-22) Coulibaly, Sionfou Seydou; Gakpa, Lewis Landry
    This paper attempts to verify, on the one hand, if the quality of property rights is an essential condition to the contribution of the openness to international capital flows to economic growth in sub-Saharan Africa countries, and on the other hand, if this contribution depends on their natural resources endowment. We used three econometric methods inherent to non-stationary panel data (Mean Group, Pooled Mean Group, and Dynamic Fixed Effects) and a sample of 36 sub-Saharan Africa countries, subdivided into countries rich in natural resources and countries poor in natural resources, over the period 1996-2013. The results obtained allowed us to highlight that, the property rights in sub-Saharan Africa countries are of paramount importance in the effective contribution of international capital flows to economic growth, whatever the endowment in natural resources.