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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]

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This paper utilizes cointegration and the vector error-correction model (VECM) to explore the causal relationship between economic growth and growth rate of domestic savings for Congo, Côte d’Ivoire, Ghana, Kenya, South Africa, and Zambia. Specifically, three analyses were undertaken. First, the time series properties of economic growth and domestic savings were ascertained with the help of the augmented Dickey–Fuller unit root procedure. Second, the long-run relationship between economic growth and growth rate of domestic savings was examined in the context of the Johansen and Juselius (1990) framework. Finally, a Granger-causality test was undertaken to determine the direction of causality between economic growth and growth rate of domestic savings. The results indicate one order of integration [I(1)] for each of the series. The results of the cointegration tests suggest that there is a long-run relationship between economic growth and growth rate of savings. The results from the Granger-causality tests indicate that contrary to the conventional wisdom, economic growth prima facie causes growth rate of domestic savings for most of the countries under consideration. Le présent document utilise la co-intégration et le modèle à vecteur de correction des erreurs (VECM) pour étudier les relations de cause à effet entre la croissance économique et les taux de croissance de l’épargne intérieure au Congo, en Côte d’Ivoire, au Ghana, au Kenya, en Afrique du Sud et en Zambie. Plus précisément, trois analyses ont été effectuées. La première a vérifié les propriétés des séries chronologiques de la croissance économique et de l’épargne intérieure à l’aide de la méthode Dickey–Fuller de racine unitaire augmentée. La deuxième a examiné les relations à long terme entre ... [ABSTRACT FROM AUTHOR]

This paper seeks to empirically explore the causal link between the level of financial development and economic growth in 13 sub-Saharan African countries. The empirical investigation is carried out in a vector autoregression(VAR) framework based on the theory of cointegration and error-correction representation of cointegrated variables. The results of the cointegration analysis provide evidence of the existence of a long-run relationship between financial development and economic growth in almost all(12 out of 13) of the countries. With respect to the direction of long-term causality, the results show that financial development plays a causal role on economic growth, again in eight of the countries. At the same time, evidence of bidirectional causal relationships is found in six countries. The findings imply that African countries can accelerate their economic growth by improving their financial systems. [ABSTRACT FROM AUTHOR]

HIV/AIDS is the dominant health issue in Africa, where in many countries the human and social costs are devastating. Any deterioration in economic performance is likely to compound these costs and render countries less able to cope with the epidemic. However, conventional economic theories of growth argue that the impact of such an epidemic on the growth rate and level of income may be positive or negative. The analyses reported in this paper assess the impact of the HIV epidemic upon economic growth performance in 41 African economies between 1960 and 1998. The results indicate that for African countries where the prevalence of HIV is relatively low the impact of the epidemic conforms to ‘normal’ economic expectations. However, when the prevalence of the epidemic is relatively high the macroeconomic impact of the epidemic is unclear. Copyright © 2001 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

I use satellite imagery on night-time lights to measure growth across states and local government areas in Nigeria since the return of democracy in 1999. The data suggest that states in southern Nigeria have grown faster on average than states in the north. Using the Ordinary Least Squares, I estimate a relationship between change in night lights and real gross domestic product ( GDP) growth in Africa and use the coefficients to estimate GDP growth for states and local government areas in Nigeria over the period. Finally, I evaluate the effects of violence on growth in Plateau, Yobe and Borno states. I find that the crisis in Plateau state has resulted in slower growth compared with other states in the region. I also show that Yobe and Borno states had performed worse than other states in the north even before the outbreak of violence related to the Boko Haram sect. [ABSTRACT FROM AUTHOR]

Fiscal policy in oil-centred economies is facing specific challenges, both in the long run, as regards intergenerational equity and fiscal sustainability, and in the short run, as regards macroeconomic stabilisation and fiscal planning. Specifically, fiscal policy in most oil-exporting countries in Africa has been expansionary over the past years in the wake of high oil prices. Fiscal expansion has added to inflationary pressure, and monetary policy has been constrained in tackling inflation as a result of prevailing exchange rate regimes. The sharp fall in oil prices since mid-2008 has brought to the fore a different question-whether oil exporters in Africa can sustain spending levels reached in previous years. The study makes use of quarterly data that span between 1990:q1 and 2010:q4. A panel vector autoregressive technique was employed to examine the impact of oil price volatility on economic performance of five oil-exporting countries in Africa. The countries are Algeria, Angola, Egypt, Libya and Nigeria. In order to study the responses of shocks, the study identifies oil price volatility, real gross domestic product (real GDP), fiscal deficit, gross investment and money supply shocks by ordering the variables in this way and using a standard Choleski factorisation. The impulse response function's result shows that of all the macroeconomic variables considered, gross investment respond more effectively to oil price volatility. However, the responses of fiscal deficit, real GDP and money supply are less effective. Overall, these findings suggest that gross investment is the main route through which volatility in oil price influenced the real sector of these economies. [ABSTRACT FROM AUTHOR]

Cross-sectional studies of growth in post-colonial Africa have overwhelmingly focussed on explaining the failure of growth in Africa. This prompting stylised fact has its qualifications and when these are taken into consideration the explanations of African economic growth appear incoherent. The notion of a chronic African growth failure has diverted attention from the process of economic growth and left important questions unaddressed. The quest for the African dummy has delivered transferable conclusions with a strong impact on the writing of African economic history. This critical survey of the literature argues that African economic performance needs to be evaluated from a different perspective. Copyright © 2009 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Erosion of trade preferences currently being enjoyed by the least developed countries (LDCs) and some developing countries remains an important area in the ongoing trade negotiations. The different positions regarding the preference erosion question besides being informed by political economy considerations are also founded on empirical results of this particular question. But does the methodology used for the empirical analysis matter? In this article, the importance of preference erosion due to MFN liberalization on agriculture is analyzed. Drawing from the potential complementary strengths in triangulation, the article uses both partial and general equilibrium analyses. The article shows that the ranking of preference erosion as an issue of policy concern is influenced by the empirical methodology adopted. However, irrespective of the rank, the article concludes that preference erosion is an important issue not only in terms of welfare, but also as it has impacts on incomes for preference-receiving countries. [ABSTRACT FROM AUTHOR]

Since the 1960s economic growth rates have been far lower in sub-Saharan Africa than in other developing regions. This poor performance has resulted primarily from endemic rent-seeking and the over-regulation of markets. To achieve high growth rates, African countries must improve the investment climate by reforming institutions, enhancing infrastructure and protecting property rights. [ABSTRACT FROM AUTHOR]

The combination of poor institutions and erratic macroeconomic policy, as measured by the volatility of fiscal policy, is associated with slower growth. We show that macroeconomic policy is more erratic in countries that are rich in natural resources, especially minerals and fuels, and in those that receive large aid inflows. Poor institutions also play a role. Although Africa is a major receiver of aid and exporter of natural resources, this is not purely an African phenomenon. Output volatility is not associated with slower growth after controlling for institutions and the volatility of fiscal policy. [ABSTRACT FROM AUTHOR]

Foreign Direct Investment (FDI) into Africa has received research attention in the past two decades, and the flow of FDI into Africa has been on an upsurge. Countries such as Ghana have improved their investment climate to increase FDI attraction. Clamour for FDI has led policy focus toward attraction, with little attention to technology transfer and capacity building. FDI flow, global competitiveness index and tertiary enrollment data are adapted to evaluate technology transfer and capacity building. This article reveals that there is a policy vacuum and/or policy ineptitude: FDI policies are not integrated with education and human capital development policies, technology development policies, technology transfer policies, and private-sector development policies. © 2012 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]

The article assesses the influence of government policy on the lack of economic success not only in tropical Africa but in most other colonies as well. It considers first the connexion between domestic British economic problems and the promotion of colonial economic development. It follows by an analysis of the work of the Colonial Development Advisory Committee, a body formed in 1929 to spend up to £1 million a year on colonial economic development. In the third section of the article, the author discusses the long-term economic policies of the local governments and the Colonia Office.

The article reports on the "anti-EPAs action group" rally in Paris, France. The group is coordinated by Federation of African Workers in France (FETAF) president Sidi Tidiane Gueye and set up by officials of African organizations that aims to mobilize citizens across the world. The group claimed that the agreements will not introduce economic growth, described EPA as a programmed death for Africa, and others. Moreover, the group expressed that they are in favor of a partnership based on fair trade and co-development.

The article reports on the aid and trade relation between European Union (EU) and Africa to counter China in the quest for energy and other resources. It aims to position Europe more favorably than China in terms of economic growth. The comment from the European Commission on EU's partnership with Africa is stated. In relation, it also offers information on the EU-Africa summit to be held in December in Lisbon, Portugal, wherein efforts to improve control of African migration to Europe and human trafficking will be discussed.

Reports that the United Nations Development Program has earmarked 172 million dollars for the Small Grants Program in Africa under the Global Environment Facility.