Economics, Econometrics and Finance
8 years ago

Financial globalization in Africa leads to unequal capital flows and economic disparities.

Palgrave Macmillan UK eBooks
Africa and the Perversities of International Capital Flows
Howard Stein

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The article discusses how in the 1980s and 1990s, economists supported the free movement of money to African countries, believing it would boost their economies. African countries removed restrictions on money flow, sold state assets to foreign owners, and built up reserves and stock markets. However, this approach did not lead to the expected gains in investment and growth for many African countries.