Abstract
The author begins the paper with a brief historical perspective of global capital flows to developing economies. He then presents the theoretical underpinnings and methodology employed during the research. This is followed by the review of the literature. Next, the researcher outlines his findings. He also analyzes economic strategies to attract global private capital flows and policy implications for decision makers in developing economies. The author ends the paper with some policy recommendations and the way forward for economic growth and sustainable development.
Highlights
IntroductionBilateral donors and international financial institutions are no longer the main sources of funding (including capital flows and transfers) for investment and growth in developing countries
Contrary to popular perceptions, bilateral donors and international financial institutions are no longer the main sources of funding for investment and growth in developing countries
To get some perspective on the current state of global private capital flows to developing countries, the author began with a review of the current literature
Summary
Bilateral donors and international financial institutions are no longer the main sources of funding (including capital flows and transfers) for investment and growth in developing countries. More of the six-fold increase in inflows since 2000 came from the private sector—a sharp departure from the previous decade (Sayeh, 2011). Private financial inflows to developing countries expanded rapidly over the previous decade and sub-Saharan Africa shared in the boom. Total gross private inflows to emerging and developing countries rose from $151bn in 2002 to a peak of $1.7tn in 2007 or from $49bn to $674bn in net terms. The mainstay of investment flows to developing countries, nearly tripled. Even more dramatic was the explosive growth of
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