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ABSTRACT ...................................................................... I LIST OF TABLES ................................................................III LIST OF FIGURES ...............................................................III 1.0 INTRODUCTION ........................................................1 2.0 RATIONALE FOR SEEKING FOREIGN DIRECT INVESTMENT...........................3 3.0 SOME STYLISED FACTS: DISTRIBUTION AND TREND OF FDI IN FLOWS ..............5 4.0 BRIEF REVIEW OF OTHER STUDIES ...............................8 5.0 EMPIRICAL STRATEGY ....................................... 10 6.0 THE RESULTS ............................................................ 12 7.0 SUMMARY AND CONCLUDING DISCUSSION .................................... 14 APPENDIX ..................................................................... 15 REFERENCES...................................................................... 16Library of Congress Subject Headings for this publication: Investments, Foreign Africa