Global Financial Crises And Capital Flows: Evidence From West African Monetary Zone

The impact of foreign capital inflows on the economic growth of sub-Saharan Africa, with emphasis on West African Monetary Zone, WAMZ member countries was studied using panel Data Regression Models and Hausman Test. Outcomes of the study revealed that there is positive and significant relationship between capital flows and the level of economic growth in West African Monetary Zone. Foreign direct investment (FDI) as capital flows variable has inverse relationship with the economic growth in the region, while other capital flows variables such as foreign private investment (PPI), overseas devel…