Evelyn Wamboye (EDT), Esubalew Alehegn Tiruneh (EDT) Foreign Capital Flows and Economic Development in Africa

Annotation

This proposed book intends to provide a reference resource to showcase insightful perspectives onthe 21st century realities of foreign capital flow and their implications on the economic developmentof Africa. The foreign capital sources will constitute foreign direct investment (multinationalcorporations and, small and medium multinational enterprises), development aid, remittances andforeign debt. Our main goal and novel1 contribution to the literature will be to answer a question thathas never been asked before 'Who benefits Africa more in the 21st century, the BRICS2 or OECD3countries?' Effectiveness of foreign capitals from conventional sources (OECD countries) will beanalyzed and compared to those from non-conventional sources (BRICS countries) that have gainedprominence in recent years. The book will offer hard-headed prognosis on the state of Africa's externalfinancial resources and how to facilitate efficient policies necessary for meaningful, sustained andinclusive growth. It will provide an in-depth analysis of fundamental domestic factors [such asinformation and communication technologies (ICTs) and non-ICTs infrastructure development(socio-economic infrastructures); policies; financial sector liberalization and access to financialresources; innovation, research and development and; resource extraction] that determine how foreigncapital flow impact economic development in Africa with differential effects across the continent. Weexpect the outcome of this book to be profoundly refreshing with evident methodological pluralismand conceptual reflexivity. Our vision is to deliver a comprehensive work of reference to be cited asan authoritative source on the subject. This title will have a particular relevance and resonance withthe changes currently taking place in Africa as the continent strides out more confidently towardseffective integration in the global economy. We envision a volume of compelling academic and policysignificance.