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date: 29 October 2020

Abstract and Keywords

This chapter examines foreign direct investment (FDI) in Africa and the lessons for economics. In addition to the analysis of the costs, benefits, constraints and incentives for FDI in the Continent, the chapter reviews the empirical determinants in the African context. While the quantum of FDI inflows to African has been small, its effects have been mixed. It is believed that it can play a critical role in helping to accelerate and sustain development across the Continent given its interestingly changing character, sources and direction of flow. African FDI experience points to a “proximity motive” in global FDI, the role of “industrial structure,” “institutional distance,” and the strength of “market-conforming values” on FDI choices. While FDI inflow outlook in Africa is bright, a key challenge is to turn around lingering negative perceptions in the international community of Africa.

Keywords: Foreign direct investment, theoretical perspectives, determinants, lessons for economics, Africa

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