Ndikumana, Léonce

Léonce Ndikumana is Director of the Development Research Department at the African Development Bank. Formerly Associate Professor of economics at the University of Massachusetts, Amherst, and Chief of Macroeconomic Analysis at the United Nations Economic Commission for Africa (UNECA), Léonce Ndikumana has contributed to various areas of research and policy analysis with a focus on African countries. He is an active member of major research networks around the world including the African Finance and Economics Association (AFEA) of which he is a former President, the African Economic Research Consortium (AERC) where he serves as resource person, and others. He holds a Ph.D. in Economics from Washington University in St. Louis, Missouri, USA.

Research interests

His research investigates the role of financial systems for domestic investment, the issues of external debt and capital flight, macroeconomic frameworks for growth and employment, the politics and economics of conflict and civil wars in Africa, and fiscal policies in the context of post-conflict reconstruction.

Selected Publications

  • “The Linkages between FDI and Domestic Investment: Unravelling the Development Impact of Foreign Investment,” co-authored with Sher Verick, Development Policy Review 26 (6), 713-26, 2008.
  • “Can macroeconomic policy stimulate private investment in South Africa? New insights from aggregate and manufacturing sector-level evidence.” Journal of International Development 20 (7), 869-87, 2008.
  • “From Failed State to Success Story?” in J.K. Boyce and M. O’Donnell, eds., Peace and the Public Purse: Economic Policies for Postwar Statebuilding. Lynne Rinner, 2007, pp. 15-54 (co-authored with Justine Nannyonjo).
  • An Employment-Targeted Economic Program for South Africa. Northampton, MA: Edward Elgar Publishing. [Co-authored with Robert Pollin, Gerald Epstein, and James Heinz.], 2006.
  • “Distributional conflict, the state and peace building in Burundi.” The Round Table, 2005, vol. 94 (381), 413-427.
  • “Financial development, financial structure, and domestic investment: International evidence.” Journal of International Money and Finance, 2005, vol. 24 (4), 651-673.
  • “The Economics of Civil War: The Case of the Democratic Republic of Congo.” Co-authored with Kisangani Emizet. In Nicholas Sambanis et al. (Eds.) Understanding Civil War: Evidence and Analysis. The World Bank, 2005.
  • “Public debts and public assets: Explaining capital flight from sub-Saharan African countries.” Co-authored with James K. Boyce, World Development, 2003, vol. 31(1), 107-130.
  • “Is Africa a net creditor? New estimates of capital flight from severely indebted sub-Saharan African countries, 1970-1996,” co-authored with James K. Boyce, Journal of Development Studies, 2001, vol. 38(2), 27-56. Winner of the Dudley Seers Memorial Prize for best article.
  • “Financial determinants of domestic investment in sub-Saharan Africa: Evidence from panel data,” World Development, 2000, vol. 28(2): 381-400. 







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