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Foreign Direct Investment Inflows and the Industrialization of African Countries

Steve Gui-Diby and Mary-Françoise Renard
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Mary-Françoise Renard: CERDI - Centre d'Études et de Recherches sur le Développement International - UdA - Université d'Auvergne - Clermont-Ferrand I - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper examines the relationship between inward foreign direct investment (FDI) and the industrialization process in Africa. It uses panel data from 49 countries over the period of 1980–2009. The results indicate that FDI did not have a significant impact on the industrialization of these countries, while other variables, such as the size of the market, the financial sector, and international trade were important. This study concludes that the role of FDI in the transformation agenda, which is currently being discussed in Africa, should be carefully analyzed to maximize the impact of these capital inflows.

Keywords: foreign direct investment; industrialization; panel data; Africa (search for similar items in EconPapers)
Date: 2015
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Published in World Development, Elsevier, 2015, 74, pp.43-57

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