Leonce Ndikumana

Léonce Ndikumana[1] got his bachelor's degree in economics at the University of Burundi in 1986. He became a lecturer in 1987 and finally Director of Finance and Administration at the same university. In 1992, he got a Masters in Economics and in 1996 his doctorate at the Washington University in St. Louis, USA. He is currently Distinguished Professor of Economics and Director of the Africa Development Program at the Institute of Research at Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst in the United States.

Léonce Ndikumana is particularly interested in the macro-economic policy and in Africa economy.[2] He focuses his career on the causes of weak African economies, its consequences and solutions needed.[3] He is a member of the United Nations Development Policy Committee. He served as Director of Research and Operations of the African Development Bank (2008–2011),[4] and Head of macroeconomic analysis at the United Nations Economic Commission for Africa (UNECA or Economic Commission for Africa), Addis Ababa, Ethiopia from 2006 to 2008. He specializes on external debt and capital flight, financial markets and growth, and macroeconomic policies for growth and employment with a focus on the Africa.[5][6]

Léonce Ndikumana career focuses primarily on African economy development, macroeconomic theory, and money and banking. It examines the extent, causes and effects[5] the flight of capital from African countries.[7][8] He has co-written with James K Boyce research published in several journals: International Review of Applied Economics, African Development Review,[9] Development and Change, Journal of Development Studies[10] and World Development. His préoccupations on macroeconomics are also published in journals such as American Economic Review,[11] Journal of Post Keynesian Economics, and Journal of African Economies.[12]

Ndikumana is also author of several works.[13][14][15][16] In La dette odieuse de l’Afrique[17] (Amalion, 2013), co-written with James K. Boyce, Ndikumana reveals that, contrary to popular perception that Africa depends on financial resources of the West,[18] the continent is actually a net creditor to the rest of the world.[19]

• Ndikumana, L. and Mare Sarr (2019). "Capital flight, foreign direct investment and natural resources in Africa." Resources Policy, Vol. 63 (October). (with Mare Sarr). Online access: https://doi.org/10.1016/j.resourpol.2019.101427.
• Pickbourn, L. and L. Ndikumana (2018) “Does Health Aid Reduce Infant and Child Mortality from Diarrhea in sub-Saharan Africa?” Journal of International Development. (with Lynda Pickbourn). (posted online Nov 4, 2018: https://doi.org/10.1080/00220388.2018.1536264)
• Ndikumana, L. and Pickbourn, L. (2017) “The Impact of Foreign Aid Allocation on Access to Social Services in sub-Saharan Africa: The Case of Water and Sanitation,” World Development 90 (February): 1-04-114.
• Ndikumana, L. (2016) “Implications of Monetary Policy for Credit and Investment inSub-Saharan African Countries.” Journal of African Development, 18 (2): 1-18.
• Nkurunziza, J., L. Ndikumana and P. Nyamoya (2016) “The Financial Sector in Burundi: An Investigation of Its Efficiency in Resource Mobilization and Allocation.” In Sebastian Edwards, Simon Johnson, and David N. Weil (Eds.) African Successes, Volume III: Modernization and Development, pp. 103-156: Chicago: Chicago University Press.
• Ndikumana, L. (2016). “The Role of Foreign Aid in Post-Conflict Countries.” in Arnim Langer and Graham K. Brown (Eds.) Building Sustainable Peace: Timing and Sequencing of Post---Conflict Reconstruction and Peacebuilding. Oxford: Oxford University Press, Chapter 9.
• Ndikumana, L. (2016) “Causes and Effects of Capital Flight from Africa: Lessons from Case Studies.” African Development Review, Vol. 28, No. S1, 2–7
• Pickbourn, L. and L. Ndikumana (2016) “Impact of sectoral allocation of foreign aid on gender equity and human development.” Journal of International Development, 28(3), 396–411
• Ndikumana, Léonce and Theresa Mannah-Blankson 2015), “Financing Domestic Investment in African Countries: Does the Source of Financing Matter?” Journal of African Development Vol. 17, no. 2, 19-48. PERI Working Paper 391.
• Ndikumana, L. (2015) “Integrated Yet Marginalized: Implications of globalization for African Development.” African Studies Review, 58 (2), 7-28.(available as PERI Working Paper 381)
• La dette odieuse de l'Afrique: Comment l'endettement et la fuite des capitaux ont saigné un continent (co-written with James K. Boyce), Dakar Amalion Publishing, 2013, ISBN 9782359260229.
• Africa's Odious Debts: How Foreign Loans and Capital Flight Bled a Continent, London: Zed Books.
• Capital Flight from Africa: Causes, Effects and Policy Issues, November 6, 2014, edited by S. Ibi Ajayi and Léonce Ndikumana, ISBN 9780198718550
• "Access to Credit by Firms in Sub-Saharan Africa: How Relevant Is Gender?" American Economic Review Papers and Proceedings, Vol. 103, No. 3 (May 2013) [co-authored with Elizabeth Asiedu, Isaac Kalonda-Kanyama, and Akwasi Nti-Addae]
• "Appliquer l'évaluation à l'aide au développement: une solution pour combler le fossé micro-macro de l'efficacité de l'aide?" Economic of Development Review. 26 (4), 125-153.[20]
• "Applying to Development and Aid Evaluation: Evaluation Can Bridge the Micro-macro Gaps in Aid Effectiveness "in Bourguignon et al (Eds.) Proceedings of the 9th AFD-EUDN Conference 2012, p 123-15022.
• "The Global Financial Crisis and Africa": The Effects and Policy Responses." Co-authored with Zuzana Brixiova, In Gerald Epstein and Martin H. Wolfson (Eds.) The Handbook of the Political Economy of Financial Crises, Oxford: Oxford University Press, 2013.[21]
• "Capital flight from North African countries" October 2012, co-authored with James K. Boyce.[22]
• "Capital flight from sub-Saharan African countries: Updated Estimates, 1970-2010." Co-authored with James K. Boyce.
• Elites loot Africa have foreign debts mount "in Nayan Chanda and Susan Froetschel A World Connected (Eds.). Globalization in the 21st Century, 2012, pp 44-47.
• "New Estimates of Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and Policy Options", co-authored with James K. Boyce. International Review of Applied Economics 25 (2) 149-170, 2011
• "Is there a case for formal inflation targeting in sub-Saharan Africa?" Supplement 2 May 2011 ii67-ii103, co-authored with James Heintz.[23]
• Rich Presidents of Poor Nations. Capital Flight from Resource-Rich Countries in Africa "ACAS Bulletin 87 special issue (November) Co-authored with James K. Boyce, 2012..
• Debt repudiation and audit of odious debt.,[24] special issue (November), pp. 36-41. Co-authored with James K. Boyce, 2012.
• Burundi. "In Ernest Aryeetey Shantayanan Devarajan and Ravi Kanbur, eds, The Oxford Companion to the Economics of Africa, 2012.
• China-Africa: New Development Opportunities. Co-edited with Richard and Peter Walkenhorst Schiere, Tunis: African Development Bank, 2011.
• "New Estimates of Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and Policy Options", co-authored with James K. Boyce28, 2011.
• Mitigating the Impact of the Financial and Economic Crisis in Africa, Paris: Economica, 2010; Book co-edited with Louis Kasekende and Abdul Kamara.
• "Measurement of Capital Flight: Methodology and Results for Sub-Saharan African Countries." African Development Review 22 (4), 471-481, 2010. Co-authored with James K. Boyce.
• "Revenue mobilization in African Countries: Does Natural Resource Endowment Matter?" African Development Review22 (3), 351 to 365.2010. co-authored with Kaouther Abderrahim.
• "The financial crisis - Strategies for Mitigating icts impact in Africa: Conclusions and the Way Forward." In Kasekende L., L. Ndikumana and A. Kamara (Eds.) Mitigating the Impact of the Financial and Economic Crisis in Africa, Paris: Economica, 2010, p. 147-155. Co-authored with Louis Kasekende.
• "Africa's Revolving Door: External Borrowing and Capital Flight in Sub-Saharan Africa." In Vishnu Padayachee (ed.), Political Economy of Africa, 2010. Co-authored with James K. Boyce.
• "Growth and Development in Africa: Challenges and Opportunities." In Shahrukh Rafi Khan and Jens Christiansen (Eds.) Towards New Developmentalism: Market as Means Rather than Master. p. 203-224. London and New York: Routledge, 2010
• "Africa's counter-cyclical policy responses to the crisis." Journal of Globalization and Development Vol. 1 (1), Article 16 January 2010 (Edition Symposium), co-authored with Louis Kasekende and Zuzana Brixiova.
• "Capital Flight Repatriation: Investigation of Potential Earnings icts for Sub-Saharan African Countries." Co-authored with Hypolite Fofack. African Development Review 22 (1), 4-22, 2010
• "Employment, Poverty and Economic Development in Madagascar: A Macroeconomic Framework". Co-authored with Gerald Epstein, James Heintz, and Grace Chang. International Labour Office, Employment Sector Working Paper 58, 2010
• "Enhancing Competitiveness in Four African Economies: The Case of Botswana, Mauritius, Namibia, and Tunisia." In World Bank, African Development Bank and World Economic Forum's African Competitiveness Report 2009, p. 139-162
• "Supporting the World Trade Organization Negotiations: Looking Beyond Market Access." In The great trade collapse: Causes, Consequences and Prospects Edited by Richard Baldwin, co-authored with Tonia Kandiero, November 2009.
• "FDI and Domestic Investment: Investigating the Impact of Foreign Investment on Development in Sub-Saharan Africa." In Seck, D. and S. Boko (Eds.) Back on Track: Sector-Led Growth in Africa and Implications for Development. Africa World Press. 2009.
• "Corruption and growth in African countries: Exploring the Investment Channel." Co-authored with Mina Baliamoune. In: AfDB and UNECA, Africa's Development Challenges and Opportunities in the Global Arena: Proceedings of the 2007 African Economic Conference, 399-409, Paris: ECONOMICA for AfDB and UNECA, 2009.
• "Reserves Accumulation in African Countries: Sources, Motivations, and Effects," co-authored with Adam Elhiraika (UNECA), In: AfDB and UNECA, Africa's Development Challenges and Opportunities in the Global Arena: Proceedings of the 2007 African Economic Conference. 285-315, Paris: ECONOMICA for AfDB and UNECA, 2009.
• "Revisiting Development Finance Institutions for the Purpose of Accelerating African Economic Development." In: AfDB and UNECA, 2006 Proceedings of the African Economic Conference. Nairobi, Kenya: RCSA for AfDB, 2009
• "The Linkages entre FDI and Domestic Investment: Unravelling the Development Impact of Foreign Investment," co-authored with Sher Verick (UNECA), Development Policy Review 26 (6), 713-26, 2008.
• "Can macroeconomic policy Stimulate private investment in South Africa? New insights from manufacturing sector and aggregate-level evidence." Journal of International Development 20 (7), 869-87, 2008. • "Capital Flight." In Kenneth Reinert and Ramkishen Rajan (eds.). The Princeton Encyclopedia of the World Economy, November 2008
• "Uganda: From Failed State to Success Story?" in J. K. Boyce and Mr. O'Donnell, eds, Peace and the Public Purse. Postwar Economic Policies for Statebuilding. Lynne Rinner, 2007, pp. 15–54 (co-authored with Justine Nannyonjo).
• "Making the State Reporting in Burundi." in G. K. Kieh, Jr., ed, Beyond State Failure and Collapse. Making the State Reporting in Africa, New York: Lexington Books, 2007, pp. 51. • "Corruption and Pro-Poor Growth Outcomes: Evidence and Lessons for African Countries." In Mbaku, J., Martin, and J. Karugia, (eds.). Governance and Pro-Poor Growth in Sub-Saharan Africa. Nairobi: AERC, Seminar Papers, 2007, 184-219.
• An Employment-Targeted Economic Program for South Africa. Northampton, MA: Edward Elgar Publishing, Co-authored with Robert Pollin, Gerald Epstein and James Heinz, 2006.
• "An Employment-Targeted Economic Program for South Africa." Country Study No. 1. International Poverty Center, UNDP, June 2006. Co-authored by G. Epstein, J. Heintz, and R. Pollin.
• "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.
• "Africa's debt: Who owes Whom?" co-authored with James K. Boyce. In Gerald Epstein (Ed.). Capital Controls and Capital Flight in Developing Countries. Edward Elgar Press, 2005, pp. 334–340.
• "The Economics of the Civil War: The Case of the Democratic Republic of Congo." Co-authored with Emizet Kisangani. In Sambanis Nicholas et al. (Eds.) Understanding Civil War: Evidence and Analysis. The World Bank, 2005.
• "Additionality of Debt Relief and Debt Forgiveness, and Implications for Future Development Financing." International Review of Economics and Finance, 2004, vol. 13, 325-340.
• "Fiscal Policy, Conflict, and Reconstruction in Burundi and Rwanda." In Addison, T. and A. Roe (Eds.). Fiscal Policy for Development, Poverty, Growth and Reconstruction. Palgrave - Macmillan, 2004, p. 274-302.
• "Capital Flows, Capital Account Regimes, and Foreign Exchange Rate Regimes in Africa." In: UNCTAD Secretariat, Management of Capital Flows (Ed.): Comparative Experiences and Implications for Africa. Geneva: United Nations, 2003, p. 313-384.
• "Financial markets and economic development in Africa." In: (Ed.) Emmanuel Nnadozie African Economic Development, Academic Press, 2003, p. 373-403.
• "Overcoming the fiscal crisis of the state." Co-authored with Tony Addison. In: Tony Addison From Conflict to Recovery in Africa, Oxford University Press, 2003, p (Ed.). 240-259.
• "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]
• "Towards a solution to violence in Burundi: A case for political and economic Liberalization," Journal of Modern African Studies, 2000, Vol. 38 (3), 431-459.
• "Financial intermediation and growth in Southern Africa," co-authored with Donald Allen, Journal of African Economies, 2000, Vol. 9 (2), 132-160.
• "Financial determinants of domestic investment in sub-Saharan Africa: Evidence from panel data," World Development, 2000, Vol. 28 (2): 381-400.
• "Debt service financing constraints, and fixed investment: Evidence From panel data," Journal of Post Keynesian Economics, 1999, Vol. 21 (3), 455-478. • "Congo's odious debt: External borrowing and capital flight in Zaire," co-authored with James K. Boyce, Development and Change, 1998, Vol. 29 (2), 195-217.
• "Institutional failure and ethnic conflicts in Burundi," African Studies Review, 41 (1), April 1998, 29-47.

• In 2018, Ndikumana received the Chancellor's Medal, the highest award given by the Chancellor to faculty for scholarship. He delivered the Distinguished Faculty Lecture for 2017-2018.
• In 2017, Ndikumana won the UMass Alumni Association Distinguished Faculty Award
• In 2013, Ndikumana won the UMass Award for outstanding achievements in research and créatrice activity[25]
• Spotlight scholar 2013.[26]
• He is a member of the Policy Committee for development of the United Nation.
• Honorary Professor of Economics at the University of Stellenbosch in South Africa[27]
• Dudley Seers Memorial Prize for the best article in Volume 38 of the Development Studies (article co-authored with James K. Boyce).
• Exceptional Teacher Award, 2001-2002.
• Nominated for the Distinguished Teacher Award, 1999.

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