The foreign aid–foreign direct investment relationship in Africa: The mediating role of institutional quality and financial development
Olufemi Adewale Aluko
Economic Affairs, 2020, vol. 40, issue 1, 77-84
The interaction of foreign aid and foreign direct investment is an important issue for developing countries in Africa. I probe into the mediating role of institutional quality and financial development using a panel data set of 47 countries over the period 1996–2016. I find that the effectiveness of foreign aid in attracting foreign direct investment is greater in countries with better institutional quality and sound financial development. The implications for policy are outlined.
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ecaffa:v:40:y:2020:i:1:p:77-84
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