250 results
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2. Introduction.
- Author
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Aryeetey, Ernest, Kanbur, Ravi, and Page, John
- Subjects
PREFACES & forewords ,ECONOMIC development - Abstract
The article discusses the topics published within the issue, including one on the significance of a shared sectoral growth in the economy and another on the role of migration and remittances in the process of shared growth.
- Published
- 2006
- Full Text
- View/download PDF
3. The Growth Effects of the Bulging Economically Active Population in Sub‐Saharan Africa: Do Institutions Matter?
- Author
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Bonuedi, Isaac, Kamasa, Kofi, and Boateng, Elliot
- Subjects
ECONOMIC development ,GROSS domestic product ,STOCK exchanges ,BANKING industry ,INVESTORS - Abstract
This paper examines the importance of good institutions in harnessing the growth effects of the bulging economically active population in sub‐Saharan Africa (SSA). The paper utilizes a panel dataset comprising 39 countries over the period 2002–13. Based on the system generalized method of moments estimator, this paper finds that an increase in the relative size of the working‐age population has no direct significant impact on growth, except through the presence of strong and high‐quality institutions. The paper also finds that control of corruption, rule of law and political stability are the specific aspects of institutions that matter the most in reaping the dividend. These results do not only highlight the primacy of strong institutions but also shed light on the key institutional pillars that need to be strengthened to rake in the positive effects of an increasing working age population on economic growth in SSA. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
4. Short‐ and long‐run impacts of gasoline price and macroeconomic factors on road traffic safety in Nigeria.
- Author
-
Akinyemi, Yingigba C.
- Subjects
GAS prices ,TRAFFIC safety ,ROAD safety measures ,PUBLIC transit ,DEVELOPED countries - Abstract
This paper examined the short‐ and long‐run impacts of gasoline price, macroeconomic factors and road length on road traffic crashes, injuries and fatalities in Nigeria. Annual data from 1995 to 2019 and autoregressive distributed lag approach were employed. Results suggest that gasoline price, per capita income, road length and population density significantly influence road safety outcomes. Gasoline price has a positive short‐run impact on crashes, injuries, and fatalities contrary to findings in developed countries. Road crashes tend to decrease when income increases in the short term. Population density leads to improvement in road safety outcomes while road length exacerbates it. Government's policy on gasoline price increase could worsen road safety outcomes unless it is accompanied by improvement in road infrastructure, safe public transport and economic growth, [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
5. Impact of financial development on domestic investment: Evidence from West African countries.
- Author
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Keho, Yaya
- Subjects
ECONOMIC development ,ECONOMIC expansion ,REMITTANCES ,COUNTRIES ,PRIVATE sector ,PER capita - Abstract
This paper investigates the effect of financial development on domestic investment in West African countries. The study uses data from 1985 to 2019 and employs the pooled mean group technique. The main finding of the study is that financial development has a positive effect on domestic investment in the long run but an insignificant effect in the short run. Furthermore, remittances, real GDP per capita and trade openness increase investment rate. The results of causality tests support the view that investment is a channel through which financial development stimulates economic growth. Therefore, it is reasonable for the selected countries to formulate policies that promote domestic credit to the private sector in order to ease liquidity constraints and increase investment and economic growth. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
6. Does infrastructural development foster export upgrading in Africa?
- Author
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Kamguia, Brice, Ndjakwa, Manuella, and Tadadjeu, Sosson
- Subjects
ELECTRICITY pricing ,ECONOMIC development ,PANEL analysis - Abstract
A growing body of literature highlights the importance of export sophistication for economic development. Given the newness of the literature on export sophistication, its determinants are under‐exploited. As a pioneer study, this paper attempts to fill this gap in the literature by examining the effect of infrastructure development on export sophistication. Based on a panel of 45 African countries over the period 2003–2016, the results of the different estimations show that infrastructure, including transport, electricity, ICT and access to water and sanitation, improves export sophistication in Africa. Our results also show that the effect of infrastructure varies at different intervals of the export sophistication distribution. Therefore, improved infrastructure would allow African countries to not only improve their export structure but also achieve sustainable and durable growth. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
7. Estimating the Macroeconomic Effects of Monetary Unions: The Case of Trade and Output.
- Author
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Anyanwu, John C.
- Subjects
MONETARY unions ,INTERNATIONAL economic integration ,ECONOMICS ,ECONOMIC development ,ECONOMIC conditions in Africa - Abstract
Copyright of African Development Review / Revue Africaine de Développement is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2003
- Full Text
- View/download PDF
8. Has International Aid Promoted Economic Growth in Africa? .
- Author
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Cai, Jinyang, Zheng, Zuting, Hu, Ruifa, Pray, Carl E., and Shao, Qianqian
- Subjects
SUSTAINABLE development ,GROSS domestic product ,ECONOMIC development ,GROSS national product - Abstract
Abstract: Using panel data on 47 African countries from 1980–2013, this paper investigates the effects of aid on Africa's economic growth from the perspective of political stability. We find that international aid can promote economic growth in Africa, but the effectiveness of aid depends on countries’ political stability. Further, the intensity of aid affects its effectiveness. When the aid–GDP ratio is between 0 and 69 per cent, aid can promote economic growth in recipient countries, and when this ratio is 27 per cent, the marginal impact of aid on economic growth is maximized. The findings of this paper suggest that providers of aid should avoid providing a substantial amount of aid to countries at risk of political unrest, and they must determine the optimal scale of aid based on the economic development of recipient countries in order to enable aid to generate better results. Recipient countries should maintain social and political stability and ensure that they do not develop an excessive dependence on aid so that they can achieve the self‐sustainable development of their own economies. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
9. Financial Globalization and Economic Growth in Sub-Saharan Africa: Evidence from Panel Cointegration Tests.
- Author
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Egbetunde, Tajudeen and Akinlo, Anthony Enisan
- Subjects
FINANCIAL globalization ,ECONOMIC development ,COINTEGRATION ,MULTIVARIATE analysis - Abstract
This paper examines the long-run relationship between financial globalization and economic growth in sub-Saharan Africa using panel unit root tests, panel cointegration tests and panel multivariate ECM. The study finds that the variables are stationary at first difference - I(1). Also, the results reveal that all the variables are cointegrated, that is, they are related in the long run. The results of the ECT test within the framework of panel multivariate ECM confirm the cointegration tests. The paper concludes that there is a long-run relationship between financial globalization and economic growth in sub-Saharan Africa. The paper argues that sub-Saharan African economies will benefit from the era of financial globalization in the long run in as much as the governments promote and encourage sound macroeconomic policies and strong institutions. [ABSTRACT FROM AUTHOR]
- Published
- 2015
- Full Text
- View/download PDF
10. Accelerating Agro-Manufacturing to Feed Africa.
- Author
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Anyanwu, John C. and Kponnou, Mawuko
- Subjects
BEVERAGES ,TOBACCO ,ECONOMIC development ,REGRESSION analysis ,FOREST products - Abstract
This paper documents stylized facts on agro-manufacturing, especially the food, beverages and tobacco (FBT) manufacturing value added (MVA) in Africa and empirically analyzes its determinants using data for a panel of African countries over the period 1990-2011. We also estimate for the sample of sub-Saharan Africa and North Africa during the same period. The analysis is extended to food and beverages (FB) only MVA. The analyses point to large differences in sector shares both across countries at different levels of economic development. Using a two-stage least squares (2SLS) regression method, it finds that a large proportion of the cross-country variation in FBT MVA and FB MVA can be accounted for by country characteristics, policy and institutional variables. In particular, the paper finds that an inverted U-shaped relationship with real per capita GDP for FBT MVA and FB MVA, except in FB MVA in North Africa where the reverse is true. Key positive drivers of FBT MVA for the entire continent include government consumption expenditure, household consumption expenditure, social globalization, dependence on oil, minerals, natural gas, coal and forest resources, arable land, and renewable electricity output. Major negative drivers are trade openness and population size. The policy implications and lessons of these results for increasing FBT and FB MVA and feeding Africa are discussed. [ABSTRACT FROM AUTHOR]
- Published
- 2017
- Full Text
- View/download PDF
11. Commodity Dependence and Human Development.
- Author
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Nkurunziza, Janvier D., Tsowou, Komi, and Cazzaniga, Sofia
- Subjects
HUMAN Development Index ,COMMERCIAL products ,ECONOMIC development ,MACROECONOMICS ,POLITICAL stability - Abstract
This paper explores the relationship between commodity dependence and human development measured by the human development index (HDI). Commodity dependence negatively affects human development through several channels, including the negative secular terms of trade affecting commodity-dependent developing countries (CDDCs), slow economic growth, high macroeconomic instability, and political instability. The paper finds that although the effect of commodity dependence on human development is negative, on average, this relationship is complex. It changes with the level of dependence as well as the type of commodity a country depends on. This negative effect is strongest in countries where commodities account for more than 60 percent of total merchandise exports. [ABSTRACT FROM AUTHOR]
- Published
- 2017
- Full Text
- View/download PDF
12. Financial Innovations and Money Velocity in Uganda.
- Author
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Nampewo, Dorothy and Opolot, Jacob
- Subjects
FINANCIAL services industry ,UGANDAN economy ,MONEY ,PORTFOLIO diversification ,TECHNOLOGICAL innovations ,ECONOMIC development - Abstract
This paper investigates the impact of financial innovations on the stability of money velocity. The paper contributes to the existing literature in three ways; first, we develop a simple analytical framework for money velocity taking into account the effect of financial innovations. Second, we test the model on Ugandan time series data using the ARDL bounds testing approach. Third, we check for the stability of the long-run money velocity function. Results show significant negative and positive effects of financial innovations on the money velocity in the short and long run, respectively. In addition, the long-run money velocity equation is stable despite the financial innovations that have evolved over time. Furthermore, other macroeconomic determinants of money velocity, including real income, the 91-day treasury bill rates, inflation expectations and the exchange rate exhibited a significant and positive long-run relationship with money velocity except for real income. These results suggest that financial innovations have not altered the long-run stability of money velocity in Uganda. Thus, given the importance of financial innovations in enhancing the access to financial services, we recommend that more technological advances and diversification of financial products should be enhanced so as to improve financial sector development and overall economic growth. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
13. Institutional Foundations for Shared Growth in Sub-Saharan Africa.
- Author
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Nissanke, Machiko and Sindzingre, Alice
- Subjects
ECONOMIC development ,ECONOMIC policy ,INCOME inequality ,DISTRIBUTION (Economic theory) ,HUMAN capital - Abstract
The paper examines the dynamically evolving triangular relationships between institutions, growth and inequality in the process of economic development, in order to deepen the understanding of institutional conditions for pro-poor growth and shared growth. In this context, the paper discusses the institutional conditions found in sub-Saharan Africa, which may have produced the growth pattern that is unequal and against the poor. The analysis shows that sub-Saharan African countries require transforming institutions for embarking upon and sustaining a development path which would ensure shared growth in years to come. The paper first evaluates the growth-inequality-poverty nexus, as found in the recent literature, which increasingly challenges the trade-off between growth and equity, as postulated in the traditional theories. Various definitions of pro-poor growth are discussed and a sharper definition of the concept of ‘shared’ growth is provided. Definitions of institutions are then examined, as well as the triangular inter-relationships between institutions, inequality and poverty. The paper finally analyses specific institutional conditions found in sub-Saharan Africa that prevent economies from emerging out of low-equilibrium poverty traps that are characterized by low economic growth, unequal distribution of income and wealth as well as unequal access to resources and power. [ABSTRACT FROM AUTHOR]
- Published
- 2006
- Full Text
- View/download PDF
14. What Drives Structural Transformation in Sub-Saharan Africa?
- Author
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Mensah, Justice Tei, Adu, George, Amoah, Anthony, Abrokwa, Kennedy Kwabena, and Adu, Joseph
- Subjects
RESOURCE allocation ,ECONOMIC development ,URBAN planning ,ECONOMIC reform ,URBAN growth ,ECONOMIC policy - Abstract
This paper provides an empirical assessment of the driving forces behind structural transformation in sub-Saharan Africa, and to further access the role of structural reforms in accounting for cross-country differences in transformation. Evidence from this paper reveals that country specific fundamentals, institutions and policy reforms as well as governance and fiscal reforms are the key drivers of transformation in the region. A set of policy strategies is proposed to engender sustained transformation and development in the region. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
15. Insurance and Economic Growth Nexus in Nigeria: Asymmetric Non-Linear Relationship under Heterogeneous Agents.
- Author
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Olayungbo, D.O.
- Subjects
ECONOMIC development ,GROSS domestic product ,CAPITAL market ,SUPPLY & demand - Abstract
This paper examines the asymmetric non-linear relationship between insurance and economic growth in Nigeria between 1976 and 2010. Prior studies have examined the direction of causality between insurance and economic growth with mixed conclusions in the insurance-growth literature. Moreover, the majority of these studies assumed symmetric causal relationships by concentrating mainly on testing the supply-leading and demand-following hypothesis. This paper, therefore, contributes to the literature by examining the asymmetric causality test between insurance and economic growth in Nigeria. After the cointegration, the asymmetry causality and the asymmetric impulse responses show a robust significant relationship between high gross domestic product (GDP) and low insurance in the long run. [ABSTRACT FROM AUTHOR]
- Published
- 2015
- Full Text
- View/download PDF
16. Technology Transfer and National Efficiency: Does Absorptive Capacity Matter?
- Author
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Danquah, Michael, Ouattara, Bazoumana, and Quartey, Peter
- Subjects
TECHNOLOGY transfer ,ABSORPTIVE capacity (Economics) ,ECONOMIC development ,EMPIRICAL research - Abstract
Abstract: This paper explores the moderating effects of absorptive capacity on the role of technology transfer in explaining cross‐country differences in national efficiency. We used data from 18 sub‐Saharan Africa countries over the period 1970–2010 and adopted a stochastic frontier approach. The empirical results show that the coefficients of the interaction terms for measures of technology transfer (trade and machinery imports) and absorptive capacity (relative R&D) are negative and statistically significant. This suggests that absorptive capacity positively influences the degree to which technology transfer affects the efficiency of countries in sub‐Saharan Africa. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
17. The nexus between tourism, financial development, and economic growth: Evidence from African countries.
- Author
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Ehigiamusoe, Kizito Uyi
- Subjects
ECONOMIC expansion ,INTERNATIONAL tourism ,GRANGER causality test ,ECONOMIC development ,TOURISM - Abstract
This paper examines the nexus between tourism, financial development and economic growth in 31 African countries using the Dumitrescu–Hurlin Granger non‐causality test that accounts for heterogeneity and cross‐sectional dependence. It also employs the Granger causality test in the frequency domain that distinguishes between temporary and permanent causality for the country‐specific analysis. It shows a cointegration relationship between tourism, financial development and economic growth. It reveals a joint long‐run causality from tourism and financial development to economic growth, and a joint short‐run and long‐run causality from tourism and economic growth to financial development, albeit the joint causality from financial development and economic growth to tourism is tenuous. The individual causality shows a bidirectional causality between tourism and economic growth, between financial development and economic growth, and between tourism and financial development. The country‐specific analysis reveals that tourism is a significant predictor of financial development and economic growth at high frequency rather than at low frequency in most countries. Therefore, African countries should prioritize the policies and programs that can facilitate the development of the tourism and financial sectors in their quest to accelerate economic growth and development. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
18. Institutional Environment and Microfinance Performance in Sub-Saharan Africa.
- Author
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Chikalipah, Sydney
- Subjects
MICROFINANCE ,SMALL business finance ,ECONOMIC development ,GENERALIZED method of moments ,ECONOMIC conditions in Africa, 1960- ,ECONOMIC conditions in Africa - Abstract
This paper explores the impact of the institutional environment on the performance of 291 microfinance institutions in 34 sub-Saharan Africa countries during the period 2006 to 2014, by analysing the unbalanced panel data using fixed effects and generalized method of moments (GMM) estimation techniques. The panel regression results demonstrate strong evidence that a strong institutional environment has a positive effect on the performance of microfinance institutions in sub-Saharan Africa. More specifically, the findings reveal a positive and significant relationship between business freedom and microfinance performance in sub-Saharan Africa. These vital findings not only provide useful information to policy makers and key microfinance industry players, but also highlight the impact that institutional qualities have on microfinance performance. [ABSTRACT FROM AUTHOR]
- Published
- 2017
- Full Text
- View/download PDF
19. Foreign Direct Investment, Democracy and Economic Growth in Southern Africa.
- Author
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Malikane, Christopher and Chitambara, Prosper
- Subjects
FOREIGN investments ,DEMOCRACY ,ECONOMIC development ,INSTITUTIONAL investments ,LAW ,ECONOMIC history - Abstract
This paper investigates the link between foreign direct investment (FDI), democracy and economic growth on a panel of eight Southern African countries for 1980-2014 using the system generalized method-of-moment (GMM) estimator. We find that FDI has a direct positive effect on economic growth and that strong democratic institutions are a significant driver of economic growth in the sample countries. The impact of FDI on economic growth is dependent on the level of democracy in the host countries. This implies that countries with strong democratic institutions are better able to absorb the positive spillovers from FDI. In policy terms, Southern African countries should sustain the institutional reform policy agenda already in place in order to benefit more from the significant inflows of FDI. [ABSTRACT FROM AUTHOR]
- Published
- 2017
- Full Text
- View/download PDF
20. Analysis of Gender Equality in Youth Employment in Africa.
- Author
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Anyanwu, John C.
- Subjects
GENDER inequality ,YOUTH employment ,EMPLOYMENT ,UNITED States gross domestic product ,ECONOMIC development ,URBANIZATION - Abstract
This paper empirically studies the key drivers of gender equality in youth employment over the period, 1991 and 2011. Using the pooled OLS method with year, sub-regional, and oil fixed-effects, our results suggest that for Africa as a whole and Sub-Saharan Africa (SSA), quadratic levels of real per capita GDP, gender equality in primary education, trade openness, FDI inflows, political globalization, economic growth, urbanization, female population, and being a net oil-exporting country are significantly positively associated with gender equality in youth employment. The level of real GDP per capita, equality in secondary education, gross domestic investment, access to telephone, youth unemployment, and Muslim faith tend to lower it. Government consumption expenditure also lowers it in SSA. However, North Africa is different: the level of real GDP per capita, gender equality in secondary education, and government consumption expenditure tend to increase gender equality in youth employment, while being an oil-exporting country and youth unemployment tend to lower it. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
21. Africa's Recent Economic Growth: What Are the Contributing Factors?
- Author
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Mijiyawa, Abdoul' Ganiou
- Subjects
ECONOMIC conditions in Africa, 1960- ,ECONOMIC development ,ECONOMIC indicators ,INVESTMENTS ,PRIVATE sector ,EXPORTS ,AGRICULTURE ,GROSS domestic product ,FINANCE - Abstract
This paper analyses the characteristics of the recent African economic growth. The data reveal that during the period 1995-2005, Africa caught up with East Asia in terms of economic growth and investment. However, East Asia has improved its advantage on Africa in terms of GDP per capita and growth fundamentals. African economic growth rate was 2.2 percentage points higher during the period 1995-2005 compared to the period 1975-94. However, between the two periods, only primary education, exports and urbanization have significantly increased in Africa. The other growth determinants have either slightly deteriorated or remained stagnant. The results of growth regressions over the period 1995-2005 indicate that investment, private sector access to credit, government effectiveness, exports and the share of agriculture value added in GDP are significantly linked with economic growth. Thus, compared to the statistical analysis, growth regressions suggest that most of the variables which have significantly contributed to growth recovery are not those variables which have positively evolved in Africa. The good news is that African economies have grown recently without changing many growth fundamentals. The bad news is that the recent African growth recovery may not be sustainable if efforts are not focused on right growth fundamentals. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
22. Trade Openness and Inflation Performance: A Panel Data Analysis in the Context of African Countries.
- Author
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Yiheyis, Zelealem
- Subjects
FREE trade ,PRICE inflation ,PANEL analysis ,DYNAMIC models ,FOOD supply ,ECONOMIC development - Abstract
This paper tests the hypothesis of a negative relation between openness and inflation in the context of African countries. A dynamic model of inflation in which openness enters alternately as an endogenous and exogenous variable is estimated with different panel data estimation procedures. The paper finds no robust evidence that openness served as a mechanism to restrain inflation in the region. On the contrary, the results suggest that increased openness, treated as an endogenous variable, is associated with higher inflation on holding constant such factors as food supply constraint and level of economic development which are found significant co-determinants. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
23. Impacts of the Economic Crisis on Human Development and the MDGs in Africa.
- Author
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Conceição, Pedro, Mukherjee, Shantanu, and Nayyar, Shivani
- Subjects
FINANCIAL crises ,ECONOMIC impact ,ECONOMIC development ,ECONOMIC indicators ,ECONOMIC policy ,TRENDS ,ECONOMIC models - Abstract
The economic crisis has had significant short-term effects in most countries around the world, including those in sub-Saharan Africa. Many of the economies are now expected to begin recovering, although the recovery is anticipated to be protracted, uneven across indicators and countries, and may be fragile. Despite the recovery, will the crisis have long-term consequences for human development and Millennium Development Goal (MDG) achievements in Africa? If so, what are the mechanisms through which such impacts could take place, and what is the role for policy? This paper seeks to address these questions by examining the evidence from similar episodes in the past, and by using a simple framework to assess the long-term impact on human development including trends towards the MDGs. Using growth projections to 2014 for the countries in the region, and a range of observed trends, it models possible impacts on the MDGs, and demonstrates how the crisis could lead to real slow-downs or reversals in the rate of progress. Based on these results the paper suggests that a series of active policy interventions are needed both to accelerate progress towards the MDGs and to build resilience for the future. [ABSTRACT FROM AUTHOR]
- Published
- 2011
- Full Text
- View/download PDF
24. Education and Economic Development in Africa.
- Author
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Gyimah-Brempong, Kwabena
- Subjects
ECONOMIC development ,EDUCATION policy ,EDUCATIONAL attainment ,POSTSECONDARY education ,GROWTH rate ,PRIMARY education ,SECONDARY education - Abstract
This paper uses panel data from two new data sets on educational attainment to investigate the effects of education on several development outcomes in African countries. I find that education has a positive and significant impact on these development outcomes. I also find that different levels of education affect development outcomes differently; for some development outcomes, primary and secondary education may be more important than tertiary education, while for some development outcomes, such as income growth rate, tertiary education may be more important. The results of this paper have implications for development policy in African countries. [ABSTRACT FROM AUTHOR]
- Published
- 2011
- Full Text
- View/download PDF
25. Food Security and Human Development in Africa: Strategic Considerations and Directions for Further Research.
- Author
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Conceição, Pedro, Fuentes-Nieva, Ricardo, Horn-Phathanothai, Leo, and Ngororano, Anthony
- Subjects
FOOD security ,FOOD supply ,ECONOMIC development ,PROGRESS ,PUBLIC health - Abstract
This paper argues that food security and human development are intricately linked, and that meaningful progress on the one cannot be sustained without concomitant progress on the other. The paper surveys recent research on various aspects of the linkages between food security and human development and highlights areas where further research would enrich our understanding of the complex interactions and synergies between the two. It concludes by calling for a more systematic investigation of the human development-food security nexus with a view to generating new and practical insights for improving food security and advancing human development in sub-Saharan Africa. [ABSTRACT FROM AUTHOR]
- Published
- 2011
- Full Text
- View/download PDF
26. Building Complementarities in Africa between Different Development Cooperation Modalities of Traditional Development Partners and China.
- Author
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Schiere, Richard
- Subjects
INTERNATIONAL trade ,INVESTMENTS ,ECONOMIC development ,GLOBAL Financial Crisis, 2008-2009 ,ECONOMIC recovery ,GROWTH rate - Abstract
China's relationship with Africa has grown exponentially over the last decade with US$95 billion in bilateral trade in 2008 and US$5.4 billion of Chinese investment in Africa for the same year. The growth of Sino-African relations also has an impact on the role of traditional development partners in Africa in particular in the aftermath of the 2008 financial crisis, which has already led some traditional development partners to reduce their aid budgets and subsequently their Official Development Assistance (ODA) flows to Africa. The objective of this paper is to analyse different development cooperation modalities in Africa of traditional development partners and China. This requires identifying trends in aid, debt relief, general budget support, trade, preferential trade access, and investment flows of both traditional development partners and China. The paper advocates that complementarities can be built between these development modalities on a national, regional and global level. This would enhance development effectiveness, increase efficiency and create win-win situations which would be beneficial to African countries, China and traditional development partners. [ABSTRACT FROM AUTHOR]
- Published
- 2010
- Full Text
- View/download PDF
27. Unlocking Productive Entrepreneurship in Africa's Least Developed Countries.
- Author
-
Brixiova, Zuzana
- Subjects
POVERTY ,DEVELOPING countries ,ENTREPRENEURSHIP ,ECONOMIC development ,JOB creation ,SMALL business - Abstract
In Africa's least developed countries (LDCs), escape from poverty and convergence to living standards of more advanced economies depends critically on structural transformation and the emergence of productive entrepreneurship that would accelerate growth and job creation. So far, however, subsistence agriculture has been the main source of employment in these countries, while a dynamic private sector in industry or high value-added services has remained elusive. Utilizing the flow approach to labor markets, this paper complements the empirical literature and numerous surveys on small and medium enterprise (SME) constraints and develops a theoretical framework that examines the main obstacles to entrepreneurship in Africa's LDCs. The paper posits that given the persistent frictions in product and labor markets as well as skill shortages that characterize these economies, development of productive entrepreneurship cannot be left to markets alone. The policy analysis suggests that the state has an important role to play. Well-targeted government interventions including training of potential entrepreneurs and workers can help to establish more modern and highly productive SME clusters that Africa's LDCs need. [ABSTRACT FROM AUTHOR]
- Published
- 2010
- Full Text
- View/download PDF
28. Développement financier, croissance économique et productivité globale des facteurs en Afrique Sub-saharienne*.
- Author
-
Aka, Brou Emmanuel
- Subjects
FINANCE ,ECONOMIC development ,TECHNOLOGY & economics ,CREATIVE ability in technology - Abstract
Copyright of African Development Review / Revue Africaine de Développement is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2010
- Full Text
- View/download PDF
29. Economic Union, Finance and Growth: A Prognosis in West Africa.
- Author
-
Ehigiamusoe, Kizito Uyi and Lean, Hooi Hooi
- Subjects
INTERNATIONAL economic integration ,ECONOMIC development ,FINANCE ,ECONOMIC impact ,PROGNOSIS - Abstract
This paper compares the impact of financial development on economic growth in the Union Économique et Monetaire Ouest Africaine (UEMOA) and non‐UEMOA countries. It also examines the finance‐growth nexus before and after the formation of UEMOA, as well as the indirect effect of economic union on economic growth through the financial sector. The study reveals a significant difference in the finance‐growth nexus between UEMOA and non‐UEMOA countries. Specifically, financial development has a robust positive impact on growth in UEMOA countries, while the impact is tenuous in non‐UEMOA countries. However, we find no remarkable difference in the finance‐growth nexus before and after the formation of UEMOA. We also reveal that economic union has no robust indirect effect on economic growth via the financial sector. The economic implication is that UEMOA could have economic benefits, but financial development is not a channel through which it influences growth. Therefore, it is necessary to reposition the union so that it can enhance the impact of finance on growth. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
30. La vulnérabilitééconomique, défi persistant à la croissance africaine.
- Author
-
Guillaumont, Patrick
- Subjects
STAGNATION (Economics) ,ECONOMIC development ,INTERNATIONAL economic assistance ,INTERNATIONAL finance - Abstract
Copyright of African Development Review / Revue Africaine de Développement is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2007
- Full Text
- View/download PDF
31. External Shocks and the HIPC Initiative: Impacts on Growth and Poverty in Africa.
- Author
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Hussain, M. Nureldin and Gunter, Bernhard G.
- Subjects
MACROECONOMICS ,DEBT relief ,POVERTY ,ECONOMIC development - Abstract
The paper uses a simple macroeconomic model to estimate the impact of debt relief and terms of trade shocks on growth and poverty in African countries. For the 18 heavily indebted poor countries (HIPCs) that reached the enhanced HIPC decision point by end-December 2000, the basic quantitative findings are that HIPC debt relief has boosted economic growth in these countries by an average of 2.9 percent per annum and that the computed result of this increase in growth is a reduction in poverty by an average of 2.2 percent per annum. However, the paper shows that recent deteriorations in the terms of trade have counter-balanced these positive effects by lowering growth by an average of 2.0 percent per annum and by increasing poverty by an average of 1.3 percent per annum. Clearly, much of the positive impact emanating from the HIPC Initiative has been eroded due to recent deteriorations in the terms of trade. The paper also estimates the net effect on growth and poverty of the recently agreed 100 percent multilateral debt relief. This is predicted to boost economic growth by an average of 5 percent per annum and reduce poverty by about 5.3 percent per annum for the group of all African HIPCs. The paper concludes that 100 percent debt relief is crucial for Africa, but that more aid and policies need to be focused on a long-term development strategy that fosters the necessary structural transformation. [ABSTRACT FROM AUTHOR]
- Published
- 2005
- Full Text
- View/download PDF
32. Introduction.
- Author
-
Ajayi, Ibi
- Subjects
CONFERENCES & conventions ,FINANCIAL crises -- Congresses ,ECONOMIC development ,FINANCIAL bailouts - Abstract
Information on the topic "Rethinking African Economic Policy in Light of the Global Economic and financial Crisis" discussed at a meeting held December 6-8, 2009 in Nairobi, Kenya. As stated, the objective of the meeting was to respond to the threats of the financial crises on Africa's growth and development. Information of several sets of papers discusses at the meeting is also discussed.
- Published
- 2011
- Full Text
- View/download PDF
33. External Debt and Growth Dynamics in Nigeria.
- Author
-
Adamu, Ibrahim Mohammed and Rasiah, Rajah
- Subjects
ECONOMIC development ,EXTERNAL debts ,GROWTH curves (Statistics) ,REPAYMENTS ,THRESHOLD (Perception) - Abstract
This paper investigates the dynamic effects of external debt on economic growth in Nigeria from 1970 through 2013. We begin by constructing an external debt sustainability index using principal component analysis to capture the overall effects of external debt indicators on economic growth. The empirical analysis is based on the ARDL bound test. The results show a long-run cointegration relationship between the variables. While external debt exerts an adverse effect of −0.069 per cent on growth in the long run, the external debt sustainability index shows a positive effect of 0.072 per cent and 0.024 per cent on growth in the long and short run. The findings suggest the government should reduce its expenditure and mobilize revenue through domestic sources to invest in projects with a high rate of return to enable debt repayment and stimulate growth. To maintain debt ratios within a manageable threshold so as to avoid being debt trapped, foreign loans should only be contracted on concessional terms. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
34. Financial Development, Foreign Banks and Economic Growth in Africa.
- Author
-
El Menyari, Younesse
- Subjects
FOREIGN banking industry ,ECONOMIC development ,MARKET prices ,ECONOMIC policy ,DEVELOPMENT banks - Abstract
This study aims to examine and analyze the impact of financial development and foreign bank penetration on African economies. An empirical study for the period 1995–2015 is conducted using the system GMM estimator. Our empirical results indicate that foreign bank entry has a positive and significant impact on economic growth in the countries of North and Southern Africa, while in the other two regions considered in this study (West and Central Africa, East Africa) the impact is negative and rarely significant. In addition, our results show that the development of financial markets has a positive and significant effect on economic growth only in the Southern African region. The paper concludes that policymakers should focus on long‐term policies to strengthen the financial sector to truly meet the needs of African people. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
35. Internet Adoption and Financial Development in Sub‐Saharan Africa: Evidence from Nigeria and Kenya.
- Author
-
Edo, Samson, Okodua, Henry, and Odebiyi, John
- Subjects
ECONOMIC development ,TECHNOLOGICAL innovations ,FINANCIAL performance ,CORPORATE profits ,INTERNET of things - Abstract
Financial development is influenced by the dynamics of multiple factors which have remained insufficiently explored up to date. In view of this, an attempt is made in this paper to investigate the impact of internet adoption on financial development in sub‐Saharan Africa, using Nigeria and Kenya as case studies. The dynamic ordinary least squares and vector error correction mechanism methods were employed in the study which revealed that the internet, complemented by financial openness, exerted a significant positive impact on financial development in the period 2000–16. The null hypothesis which states that the internet does not encourage financial development is therefore rejected. It follows that the level of financial development in both countries, and indeed most countries in sub‐Saharan Africa, could be enhanced by adopting appropriate policies that encourage more inclusive use of the internet. The policy recommendations of this study therefore include (i) relaxing the stringent requirements for licensing internet operators in order to make more services available for financial transactions, (ii) integrating internet technology into the national infrastructure framework in order to sustain its application, (iii) fostering local skills and expertise that will be maintaining internet infrastructure and (iv) providing a legal framework that protects personal information and ensures responsible usage of internet. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
36. Technological Innovations in the Control of International Exchange: Lessons for Africa.
- Author
-
Ngameni, Joseph Pasky and Khan, Muhammad Arshad
- Subjects
ECONOMIC development ,TECHNOLOGICAL innovations ,INTERNATIONAL trade ,GROSS domestic product ,FOREIGN investments - Abstract
Empirical studies on international trade highlight the role of innovation on international exchange but do not capture the effect of technological innovation when unobservable common factors (UCFs) are considered. This paper examines the long‐run relationship between technological innovation and international exchange using panel data for eight African countries over the period 1981–2013. The non‐stationarity and cointegration between technological innovation, international exchange, public investment, real gross domestic income and foreign direct investment were examined, controlling for cross‐sectional dependence and heterogeneity between countries. The results suggest that technological innovation in Africa remains low after controlling for UCFs, while public investment, real gross domestic product and foreign direct investment have significant impact on international exchange. Moreover, the results from the homogeneous and heterogeneous estimates, with and without UCFs, show that ignoring UCFs is likely to bias the coefficients. These findings reveal that African countries should invest more in public infrastructures and research and development to upgrade their capability To play an active role in the international market. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
37. The Impact of Informal Financial Groups on Socio‐economic Development in Tanzania.
- Author
-
Kinyondo, Abel and Kagaruki, Gibson
- Subjects
ECONOMIC development ,BANKING industry ,FINANCIAL performance ,MEDICAL care ,POVERTY - Abstract
Financial deepening is universally considered to be one of the vital means to trigger inclusive growth, in economies the world over, Tanzania being no exception. However, the lack of traditional collateral among the poor has made it virtually impossible for them to have access to financial services particularly in the formal financial institutions. It is in this context that the informal financial groups (IFGs) are so crucial in filling the financial inclusiveness gap among the poor in Tanzania. It is thus crucial that the efficacy of IFGs in improving the well‐being of the poor is assessed. It is in this context that the present study employs a quasi‐experiment mixed methodology to answer research questions. Findings have categorically shown that membership to IFGs has a positive and significant impact on various socio‐economic variables. Efforts to intensify education and training activities in IFGs, and their access to loans are some of the key recommendations that this paper suggests. It is hoped that the newly promulgated 2017 National Microfinance Policy shall be implemented to that effect. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
38. Testing the Validity of the Simultaneous Openness Hypothesis in Nigeria (1990–2015).
- Author
-
Ajayi, Michael Adebayo and Aluko, Olufemi Adewale
- Subjects
GROSS domestic product ,STOCK exchanges ,BANKING industry ,ECONOMIC development ,INVESTORS - Abstract
Since the seminal paper by Rajan and Zingales in 2003, a plethora of studies have been motivated to establish whether the simultaneous opening of trade and capital borders leads to financial sector development. We test whether the simultaneous openness hypothesis is valid for Nigeria, with a focus on the banking sector and stock market. Using annual data from 1990 to 2015 and an instrumental variable regression estimation technique, we show that the simultaneous increase of trade and financial openness limits banking sector and stock market development. Thus, there is no empirical evidence to validate the simultaneous openness hypothesis in Nigeria. It also shows that trade openness is more beneficial for banking sector and stock market development in Nigeria than financial openness. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
39. What Drives Foreign Direct Investments into West Africa? An Empirical Investigation.
- Author
-
Anyanwu, John C. and Yameogo, Nadege D.
- Subjects
FOREIGN investments ,GROSS domestic product ,ECONOMIC development ,LIFE expectancy ,ECONOMIC history - Abstract
This paper analyzed drivers of foreign direct investments (FDI) to West Africa using a panel dataset from 1970 to 2010. OLS and GMM techniques are used for the estimations. The main results indicate that there is a U-shaped relationship between economic development and FDI inflows to West Africa. In summary: (i) The quadratic element of real per capita GDP, domestic investment, trade openness, first year lag of FDI, natural resources (oil and metals) endowment and exports, and monetary integration have positive and significant effect on FDI inflows to West Africa; and (ii) there is a negative relationship between FDI inflows to the sub-region and loan component of ODA, economic growth, level of economic development (real GDP per capita), life expectancy, and domestic credit to the private sector. [ABSTRACT FROM AUTHOR]
- Published
- 2015
- Full Text
- View/download PDF
40. Software Piracy and Scientific Publications: Knowledge Economy Evidence from Africa.
- Author
-
Asongu, Simplice A.
- Subjects
SOFTWARE piracy ,INFORMATION economy ,INTELLECTUAL property ,SCIENCE publishing ,SCIENTIFIC software ,ECONOMIC development - Abstract
This paper is an extension of the debate on the nexus between the strength of intellectual property rights (IPRs) and prospects for knowledge economy. It assesses the relationships between software piracy and scientific publications in African countries for which data is available. The findings, which reveal a positive nexus, are broadly consistent with the school of thought postulating that the East Asian miracle has been largely due to weaker IPRs regimes at the early stages of development. As a policy implication, less stringent IPRs regimes on scientific-related software (at least in the short run) will substantially boost contributions to and dissemination of knowledge through scientific and technical publications in Africa. IPRs laws (treaties) on scientific-oriented software should be strengthened in tandem with progress in: (a) scientific and technical publications; and (b) knowledge spillovers essential for economic growth and development. More policy implications are discussed. [ABSTRACT FROM AUTHOR]
- Published
- 2014
- Full Text
- View/download PDF
41. The Ten Commandments of Applied Regional Integration Analysis: The African Case.
- Author
-
Charaf‐Eddine, Naym and Strauss, Ilan
- Subjects
AFRICAN economic integration ,INTERNATIONAL economic integration ,ECONOMIC development ,ECONOMIC policy - Abstract
This paper offers ten guidelines for researchers to improve their analysis of regional integration and their approach to regional integration. By way of analysis, regional integration statistics are often misunderstood or poorly constructed. In one way or another this leads to an oversimplification of their meaning. With respect to the approach taken by policymakers to regional integration, the goals of Africa's regional integration have not been seriously interrogated; nor have the necessary national and regional preconditions for achieving even a minimal form of regional integration that is sustainable. [ABSTRACT FROM AUTHOR]
- Published
- 2014
- Full Text
- View/download PDF
42. Inequality, Economic Growth and Poverty in the Middle East and North Africa (MENA).
- Author
-
Ncube, Mthuli, Anyanwu, John C., and Hausken, Kjell
- Subjects
ECONOMIC development ,INCOME inequality ,POVERTY ,SOCIAL development ,INFRASTRUCTURE (Economics) - Abstract
In this paper, we have presented the patterns of inequality, growth and income inequality in the MENA region. Using a cross-sectional time series data of MENA countries for the period 1985-2009, we have also investigated the effect of income inequality on key societal development, namely economic growth and poverty, in the region. Our empirical results show that income inequality reduces economic growth and increases poverty in the region. Other factors having significant negative effect on economic growth in the MENA region include previous growth rate, exchange rate, government consumption expenditure or government burden, initial per capita GDP, inflation and primary education. On the other hand, variables positively and significantly associated with MENA's economic growth are domestic investment rate, urbanization, infrastructure development, and mineral rent as a percentage of GDP. In addition, apart from income inequality, other factors increasing poverty in the region are foreign direct investment, population growth, inflation rate, and the attainment of only primary education. Poverty-reducing variables in the region include domestic investment, trade openness, exchange rate, income per capita, and oil rents as a percentage of GDP. [ABSTRACT FROM AUTHOR]
- Published
- 2014
- Full Text
- View/download PDF
43. Domestic Debt, Private Sector Credit and Economic Growth in Sub- Saharan Africa.
- Author
-
Mbate, Michael
- Subjects
DEBT management ,PRIVATE sector ,ECONOMIC development ,CREDIT ,GROSS domestic product ,ELASTICITY (Economics) - Abstract
Exercising fiscal prudence in periods of deteriorating fiscal balance requires sound policies which promote debt sustainability. This paper estimates a dynamic cross-country model and investigates the impact of domestic debt on economic growth and private sector credit in a panel of 21 sub-Saharan African (SSA) countries over the period 1985 to 2010. System-GMM results reveal a non-linear relationship between domestic debt and economic growth, characterized by a maximum turning point of 11.4 per cent of GDP. In addition, domestic debt is found to crowd out private sector credit by an elasticity of negative 0.3 per cent of GDP, deterring capital accumulation and private sector growth. These findings underscore the need for effective debt management strategies which incorporate debt ceiling to limit domestic indebtedness, as well as the design of financial policies which enhance credit availability, promote fiscal discipline and deepen domestic debt markets on the continent. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
44. African Emerging Equity Markets Re-examined: Testing the Weak Form Efficiency Theory.
- Author
-
Nwosu, Emmanuel O., Orji, Anthony, and Anagwu, Ogomegbunam
- Subjects
EMERGING markets ,ECONOMIC efficiency ,STOCK exchanges ,RANDOM walks ,ECONOMIC development ,INVESTMENTS ,RATE of return - Abstract
This paper examines the weak form of market efficiency of five major stock markets; four African equity markets and one developed market. The weekly market index returns of the EGX 30, NSE 20, NSE All Share Index, FTSE-JSE All Share Index and the S&P 500 Index were analysed for the period 1998-2008. To determine if the stylized fact of stock returns in African markets violate the random walk hypothesis, numerous econometric and statistical techniques are employed. These methods include the autocorrelation test, the unit test, linear and non-linear models. The results indicate that the African markets do not behave in a manner consistent with the weak form of market efficiency. These results provide a contrast between the emerging African markets and the developed markets. It suggests that African emerging markets have higher average returns and volatility than developed markets. We argue that if the market could be made less volatile, it has the potential to attract more investment because of its attractive returns. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
45. Determinants of Unemployment in Ghana.
- Author
-
Baah‐Boateng, William
- Subjects
UNEMPLOYMENT ,ORGANIZATIONAL performance ,REGRESSION analysis ,ECONOMIC development ,ECONOMIC impact ,EMPIRICAL research - Abstract
Unemployment is often cited as a measure of the low employment content of Ghana's strong growth performance over the past three decades. The paper presents evidence to suggest that employment growth in Ghana continues to trail economic growth due to high growth of low employment generating sectors against sluggish growth of high labour absorption sectors. A cross-sectional estimation of a probit regression model also indicates a strong effect of demand factors on unemployment, indicating a weak employment generating impact of economic growth. Empirical analysis also confirms higher vulnerability of youth and urban dwellers to unemployment with education and gender explaining unemployment in some instances. Reservation wage is also observed to have an increasing effect of unemployment. The paper recommends policies that promote investment in agriculture and manufacturing which is associated with higher employment elasticity of output. High incidence of unemployment among the youth and secondary school leavers in the most recent period requires targeted intervention including support for entrepreneurial training and start-up capital to attract young school leavers to become 'creators' rather than 'seekers' of jobs. A downward review of expectations on the part of jobseekers in terms of their reservation wage could help reduce unemployment in Ghana. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
46. Introduction.
- Author
-
Mlambo, Kupukile and Murinde, Victor
- Subjects
FINANCIAL services industry ,FINANCIAL liberalization ,FINANCIAL instruments ,COMMERCIAL treaties ,INVESTMENTS ,ECONOMIC development - Published
- 2011
- Full Text
- View/download PDF
47. Introduction: China's Increasing Engagement in Africa: Towards Stronger Trade, Investment and Development Cooperation.
- Author
-
Schiere, Richard and Walkenhorst, Peter
- Subjects
INTERNATIONAL trade ,INVESTMENTS ,ECONOMIC development ,MANUFACTURED products ,GOVERNMENT policy - Published
- 2010
- Full Text
- View/download PDF
48. The Role of Property Rights in the Relationship between Capital Flows and Economic Growth in SSA: Do Natural Resources Endowment and Country Income Level Matter? .
- Author
-
Coulibaly, Sionfou Seydou, Gakpa, Lewis Landry, and Soumaré, Issouf
- Subjects
PROPERTY rights ,CAPITAL movements ,FOREIGN investments ,ECONOMIC development ,NATURAL resources ,ECONOMICS ,ECONOMIC conditions in Africa - Abstract
Abstract: This paper studies the role played by the quality of property rights in the linkages of international capital flows into sub‐Saharan African (SSA) economies. Using panel data of 36 SSA countries over the period 1996–2015 and the ARDL procedure with the Pooled Mean Group regression method appropriate for non‐stationary panel data estimation, we account for the joint effects of property rights quality and openness to foreign capital flows on economic growth. We uncover the existence of a property rights quality threshold beyond which property rights either amplifies the spillovers effects or attenuates the negative effect of capital flows on economic growth. For instance, it takes a level of property rights of at least 60 to have a positive long‐term impact of capital flows on economic growth in natural resource‐poor African countries. The quality of property rights matters more to obtain spillover effects of capital flows on growth in natural resource‐poor countries than in their peer natural resource‐rich countries. Finally, with regard to the countries' income levels, capital flows have significant long‐term spillovers effects on economic growth in advanced African economies than in their low‐income peers. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
49. Semi-parametric Regression-based Decomposition Methods: Evidence from Regional Inequality in Tunisia.
- Author
-
Jmaii, Amal, Rousselière, Damien, and Daniel, Christophe
- Subjects
POOR people ,METROPOLITAN areas ,RURAL geography ,HOUSEHOLDS ,ECONOMIC development ,TWENTY-first century ,SOCIAL history - Abstract
This paper examines urban-rural welfare inequality in Tunisia. Founded on the recentred influence function and quantile regression based counterfactual decomposition, we dissect the gap between the two areas. Results of the present study suggest that the difference between rural poor households and urban poor households is due essentially to characteristic effects; while for wealthier households both characteristic and returns to these characteristic effects (for example, efficiency of educational system) are responsible for this gap. Additionally, the results demonstrate that this is an issue of value, and, more specifically, an economic development fairness conflict. It is suggested that policymakers should address a positive discrimination programme in favour of the marginalized region. [ABSTRACT FROM AUTHOR]
- Published
- 2017
- Full Text
- View/download PDF
50. Implicit Taxation of Agriculture: The Cause of Development Failure in Egypt.
- Author
-
Grabowski, Richard
- Subjects
AGRICULTURAL taxes ,ECONOMIC development ,AGRICULTURAL development ,UNEMPLOYMENT ,EMPLOYMENT ,CAPITAL - Abstract
Egypt has been unable to sustain rapid economic growth in the past, nor has it been able to generate employment opportunities at a fast enough rate to keep unemployment from rising. It will be argued in this paper that this has been the result of significant implicit taxation of the agricultural sector. The latter has slowed the structural transformation of the Egyptian economy, increased the capital intensity of production in the urban sector, and slowed overall economic growth. The Egyptian experience is contrasted with that of South Korea and Taiwan. The results indicate that indeed structural change in Egypt has been slowed by the implicit taxation of agriculture. [ABSTRACT FROM AUTHOR]
- Published
- 2012
- Full Text
- View/download PDF
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