Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results

Despite the well acknowledged importance of foreign direct investment (fdi) and efforts of sub-Sahara African (ssa) countries at attracting it, the region remains the least destination for fdi globally. Of course, several studies have endeavored to examine the determinants of fdi in this region. Thi...

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Detalles Bibliográficos
Autores principales:	Oluremi Ogun, Festus O. Egwaikhide, Eric K. Ogunleye
Formato:	Artículo científico
Publicado:	Centro de Investigación y Docencia Económicas, A.C. 2012
Materias:	Economía y Finanzas Fdi real exchange rate Granger causality system estimation sub-Saharan Africa
Acceso en línea:	http://www.redalyc.org/articulo.oa?id=32324513006 http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-010&d=32324513006oai
Aporte de:	Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales

id	I16-R122-32324513006oai
record_format	dspace
institution	Consejo Latinoamericano de Ciencias Sociales
institution_str	I-16
repository_str	R-122
collection	Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
topic	Economía y Finanzas Fdi real exchange rate Granger causality system estimation sub-Saharan Africa
spellingShingle	Economía y Finanzas Fdi real exchange rate Granger causality system estimation sub-Saharan Africa Oluremi Ogun Festus O. Egwaikhide Eric K. Ogunleye Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results
topic_facet	Economía y Finanzas Fdi real exchange rate Granger causality system estimation sub-Saharan Africa
description	Despite the well acknowledged importance of foreign direct investment (fdi) and efforts of sub-Sahara African (ssa) countries at attracting it, the region remains the least destination for fdi globally. Of course, several studies have endeavored to examine the determinants of fdi in this region. This study contributes to the literature by examining a possible determinant of fdi that has received less attention in the literature: real exchange rate (rer) movements. This paper examines this relationship with a view to determining the extent to which real exchange rate movements stifle fdi inflows in selected ssa countries, employing the Granger causality and simultaneous estimation techniques. The use of simultaneous equation is informed by the theoretical and empirical inconclusiveness on the relationship between movements in rer and fdi. The Granger Causality test further provides insight on the causal direction of the variables. Whereas the causality tests suggest statistical dependence between rer movements and fdi for a few of the countries, the regression analyses show a statistically significant relationship between these variables. While the inclusion of pre-reform period in the study may have contributed to these results, the general picture emerging is that fdi flows are sensitive to reer movements in ssa.
format	Artículo científico Artículo científico
author	Oluremi Ogun Festus O. Egwaikhide Eric K. Ogunleye
author_facet	Oluremi Ogun Festus O. Egwaikhide Eric K. Ogunleye
author_sort	Oluremi Ogun
title	Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results
title_short	Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results
title_full	Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results
title_fullStr	Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results
title_full_unstemmed	Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results
title_sort	real exchange rate and foreign direct investment in sub-saharan africa. some empirical results
publisher	Centro de Investigación y Docencia Económicas, A.C.
publishDate	2012
url	http://www.redalyc.org/articulo.oa?id=32324513006 http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-010&d=32324513006oai
work_keys_str_mv	AT oluremiogun realexchangerateandforeigndirectinvestmentinsubsaharanafricasomeempiricalresults AT festusoegwaikhide realexchangerateandforeigndirectinvestmentinsubsaharanafricasomeempiricalresults AT erickogunleye realexchangerateandforeigndirectinvestmentinsubsaharanafricasomeempiricalresults
bdutipo_str	Repositorios
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Real Exchange Rate and Foreign Direct Investment in Sub-Saharan Africa. Some Empirical Results

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