International Financial Flows and Macro-Financial Risk in SSA

Philip Lane

Journal of African Economies, 2016, vol. 25, issue 4, 580-613

Abstract: We examine international financial flows to SSA, with a particular focus on the implications for macro-financial risk exposures. While gross and net international financial inflows have increased in recent years, these patterns should be understood in the context of a more robust international balance sheet and a shift in the risk composition of inflows. Over 2001–13, we do not find any evidence of a correlation between international financial inflows and some primary macro-financial risk proxies. Still, the growth in inflows raises the importance of designing and implementing a robust macro-financial stability policy framework.

Date: 2016
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