THE POSITIVE IMPACT OF THE EURO-AMERICAN CRISIS ON CAPITAL INFLOWS TO SUB SAHARAN AFRICA : THE CASE OF UGANDA
- 발행기관 Ajou University, Graduate School of International Studies
- 지도교수 Ricardo Wheatley
- 발행년도 2013
- 학위수여년월 2013. 8
- 학위명 석사
- 학과 및 전공 국제대학원 국제경영학과
- 실제URI http://www.dcollection.net/handler/ajou/000000014721
- 본문언어 영어
- 저작권 아주대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
Although the Euro-American crisis had its effect on Uganda, capital inflows continued to grow between the periods of 2000-2010. The pre-crisis period (2000-2007), was dominated by trade, FDI and remittances from EU and USA. The post crisis period (2009+) saw a shift in capital flows from 2 significant players that are EU and USA to 6 players including the BRICs and African countries. The change meant that the Euro-American crisis had acted as a turning point towards Uganda's economy in terms of diversification, increased quality and quantity of cash inflows. This paper aims at analyzing the diversification, quality and quantity of capital inflows from EU, USA, BRICs and African countries between the periods of 2000-2010. It will also examine the role of the BRICs and African countries towards the capital inflows and if these inflows have a dynamic effect on the Uganda economy. This study will be a qualitative conductive study aimed at analyzing the change in capital inflows as a result of the Euro–America Crisis. The results of this study showed that between 2000 and 2007 (pre-crisis period), there was less diversification of capital sources with only 2 major sources that is EU and USA. Capital inflows were very slow paced and the quality was not good enough to trigger faster economic growth. The post–crisis period however saw the BRICs and African countries join the Ugandan trade and investment market increasing the number of players. The quality of investment grew and triggered higher economic growth by increasing the level of investment. This showed that diversity breeds quantity. The improved quality as a result of increased diversity therefore attracts more investment. It demonstrated the multiplier effect that exists between diversification, quality and quantity of cash flows to the economy of Uganda. Key Words: Euro-American crisis, Uganda, capital inflows, diversification, quality
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ABSTRACT i
ACKNOWLEDGEMENT ii
DEDICATION iii
LIST OF FIGURES vii
LIST OF TABLES viii
ACRONYMS AND ABBREVIATIONS ix
CHAPTER ONE: INTRODUCTION 1
1.1 INTRODUCTION 1
1.2 RESEARCH QUESTIONS 5
1.3 STATEMENT OF THE PROBLEM 5
1.4 HYPOTHESIS 7
1.5 METHODOLOGY 7
1.5.1 Case Study 8
1.5.2 Theories 9
1.6 ASSUMPTIONS 11
1.7 LIMITATIONS 12
CHAPTER TWO: LITERATURE REVIEW 13
2.1 SUMMARY OF MAIN AUTHORS 13
2.1.1 Sub Saharan Africa 13
2.1.2 BRICs 16
2.1.3 Uganda 17
2.2. TREND OF THE LITERATURE 21
CHAPTER THREE: GROWTH AND DECLINE OF EU AND USA CONTRIBUTION. 23
3.1 TREND OF EUROPEAN AND THE UNITED STATES CONTRIBUTION 25
3.1.1 Trade 25
3.1.2 Foreign Direct Investment 26
3.1.3 Remittances 27
CHAPTER FOUR: RISE OF THE BRICS AND AFRICAN CONTRIBUTION. 30
4.1 CONTRIBUTIONS OF THE BRIC COUNTRIES 31
4.1.1 Trade 31
4.1.2 Foreign Direct Investment 34
4.1.3 Remittances 36
4.2 CONTRIBUTION BY THE REST OF AFRICA 37
4.2.1 Trade 37
4.2.2 Foreign Direct Investment 40
4.2.3 Remittances 41
CHAPTER FIVE: CONCLUSION AND RECOMMENDATIONS 43
5.1 CONCLUSION 43
5.1.1 Crisis Initiated Economic Transition 43
5.1.2 The Basis for growth: Quantity, Diversity, or Quality 44
5.1.3 Post Crisis Growth: A combination of factors 48
5.1.4 Aggressive Government Policy 50
5.2 RECOMMENDATIONS 51
REFERENCES 55
APPENDIX 57
