A Study on the impact official development assistance and foreign direct investment on human development in Sub Saharan Africa (SSA)
The effectiveness of Official Development Assistance (ODA) and Foreign Direct Investment (FDI) on Human Development remains a topical issue in the recent past. Much as a lot of research has been done about this area, there has still not been a conclusion on the issue. This study focused its attention on two most important foreign funding mechanisms, the effectiveness of ODA and FDI on Human Development Index (HDI) particularly in Sub Saharan Africa. Using the fixed effects estimation technique for panel data for the period 2003-2014, this research empirically concluded that ODA has a positive impact on the Human Development in SSA in the short run and a negative impact in the long run. Foreign Direct Investment was observed to have a negative impact on Human Development both in the short run and long run. These results suggest that ODA is not sustainable in the long run whilst robust FDI policies should be put in place to enable it to contribute to broad based human development agenda.
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