Open AccessImpact of External Capital on Economic Growth in EMCCA Countries
Author(s) -
Thierry Mamadou Asngar,
Médard Mengue Bidzo
Publication year - 2019
Publication title -
international business research
Language(s) - English
Resource type - Journals
eISSN - 1913-9012
pISSN - 1913-9004
DOI - 10.5539/ibr.v12n6p90
Subject(s) - economics , liberalization , estimation , investment (military) , capital (architecture) , developing country , international economics , capital flows , monetary economics , economic growth , market economy , politics , management , archaeology , political science , law , history
Taking into account the effects of financial liberalization on activity, associated with the spread of financial crises in an environment of uncertainty and dependence of the economies on external financing, updates the question of the impact of external capital on growth economic.
The purpose of this paper is to examine the impact of external capital on economic growth in developing country members of a monetary union.
Following a dynamic least squares estimation on the data of the countries of the Economic and Monetary Community of Central Africa (EMCCA), we obtain that an increase in direct investment abroad positively influences the economic growth in these countries.