Endogenous Financing and the Attractiveness of FDI: Levers for Sustainable Governance of Local Development Projects in Africa

Élie Ndjeder and Victor Mignenan

International Business Research, 2026, vol. 19, issue 3, 84

Abstract: In an African context marked by the intensification of foreign direct investment (FDI) and a persistent dependence on exogenous financing, this study analyzes the joint role of endogenous financing and the attractiveness of FDI in the sustainable governance of local development projects. As part of an integrated approach to the territorial economy and public governance, the article postulates that territorial performance depends less on the volume of capital mobilized than on the institutional quality of its use. The research is based on a conceptual model of hybrid governance articulating endogenous financing, FDI, sustainable governance, institutional maturity, and territorial performance. A sequential mixed-methods approach is used, combining a quantitative survey of 325 territorial actors in Central Africa, analysed using structural equation modelling (PLS-SEM), with 32 in-depth qualitative interviews. The results show that endogenous financing has a positive and significant effect on sustainable governance (β = 0.41; p

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:ibn:ibrjnl:v:19:y:2026:i:3:p:84

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