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Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa

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Capital Account Regimes and the Developing Countries

Abstract

During the last three years, there has been an expanding literature on private capital inflows to developing countries. In 1992 and 1993, attention focused on the rise in such inflows, their causes and nature. Gradually, it moved to their potential macroeconomic impact and the policy implications. In 1994 and 1995, following events in Mexico, it has concentrated on the sustainability of the inflows, and the policy implications of potential reversal.

The views expressed in this paper are those of the authors and do not reflect the views of the Bank of Uganda or the Ministry of Finance and Economic Planning of Uganda in any way. The authors are grateful to Andrew Bvumbe, Ibrahim Elbadawi, Stephany Griffith-Jones, Richard Ketley, Mohsin Khan, Polycarp Musinguzi, Stuart Kufeni, Benno Ndulu, Carmen Reinhart, Charles Ojwiya, Jonathan Leape, Allister Moon, Tim Lamont, Carlene Francis and Daudi Sajjabi for supplying their valuable time, opinions, data and materials during the preparation of this paper; and to the Swedish and Danish governments for funding earlier work on capital flows to Africa. However, we remain responsible for any errors and misinterpretations in the paper.

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Authors
  1. Louis Kasekende
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  2. Damoni Kitabire
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  3. Matthew Martin
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Editor information

Editors and Affiliations

  1. University of Toronto, Canada

    G. K. Helleiner (Professor of Economics) (Professor of Economics)

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© 1999 United Nations Conference on Trade and Development

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Kasekende, L., Kitabire, D., Martin, M. (1999). Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa. In: Helleiner, G.K. (eds) Capital Account Regimes and the Developing Countries. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15071-7_4

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