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Since the 1990s, the rise of the “Asian Tigers” has shown that developing countries can increase their economic growth rates via heightened trade, FDI inflows, and financial sector development (FSD). Countries that successfully transition from natural resource comparative advantage to exports of increasingly complex manufactured goods tend to attract the FDI needed to support beneficiation, diversification, and industrialisation. This chapter explores the relationships between trade, FDI, FSD, and economic growth in SSA with a focus on the export-led and import-led growth hypotheses, followed by the FDI-led and FSD-led growth hypotheses. The discussion then examines the interlinkages between these hypothesised channels in resource-dependent and non-dependent SSA countries.

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FDI and Sub-Saharan Africa’s Economic Growth Cycle

  • 章节

  • 发表日期：

    2025年

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  • Sean Gossel

摘要

Since the 1990s, the rise of the “Asian Tigers” has shown that developing countries can increase their economic growth rates via heightened trade, FDI inflows, and financial sector development (FSD). Countries that successfully transition from natural resource comparative advantage to exports of increasingly complex manufactured goods tend to attract the FDI needed to support beneficiation, diversification, and industrialisation. This chapter explores the relationships between trade, FDI, FSD, and economic growth in SSA with a focus on the export-led and import-led growth hypotheses, followed by the FDI-led and FSD-led growth hypotheses. The discussion then examines the interlinkages between these hypothesised channels in resource-dependent and non-dependent SSA countries.