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F43

Economic Growth of Open Economies

Publication

Understanding South Africa’s trade policy and performance

Matthew Stern and Yash Ramkolowan
South Africa’s exports have lagged behind the rest of the world over recent decades, and this has likely constrained overall economic growth. There are multiple reasons for this disappointing trade performance, including the structure of the country’s export basket (which remains dominated by...
Jun 2021
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Publication

Output Decomposition in the Presence of Input Quality Effects: A Stochastic Frontier Approach

Yasmina Rim Limam, Stephen M. Miller and Giampaolo Garzarelli
How do physical capital accumulation and Total Factor Productivity (TFP) individually add to economic growth? We approach this question from the perspective of the quality of both labor and physical capital, namely human capital and the age of physical capital. We build a unique dataset by...
Jun 2016
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Publication

Real convergence using TAR panel unit root tests: an application to Southern African Development Community

Christian Kakese Tipoy
The recent European Union crisis has sparked renewed interest in the achievement of convergence among potential member states prior to the establishment of a monetary union. This article examines real convergence in the per capita output of SADC countries using annual data from 1980 to 2013. An...
Aug 2015
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Publication

Exchange Rate Policy and Export Performance in Efficiency-Driven Economies

Nicola Kim Rowbotham, Adrian Saville & Douglas Mbululu
Increased globalisation, coupled with rising domestic competition, has led a growing number of firms to search beyond their traditional domestic markets for business opportunities in recent years. As a result, export-led economic growth has gained renewed attention amongst policy makers,...
Oct 2014
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Publication

The Fundamental Determinants of Competitiveness in African Countries

Julius A. Agbor and Olumide Taiwo
This study investigates the drivers of competitiveness in African economies. While the macroeconomic perspective focuses on the behavior of the real effective exchange rate (REER), and the international competition framework emphasizes export market shares (EXPS), the business strategy framework...
Sep 2014
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Publication

Debt Relief under the HIPC Initiative: Why Some Countries Complete the Programme Faster Than Others

William Akoto
The Highly Indebted Poor Countries (HIPC) initiative has been one of the primary avenues for delivering debt relief to developing countries in the past decade. However, the performance of countries in the HIPC programme has been vastly heterogeneous with some countries reaching completion point...
Apr 2013
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Publication

The Exchange Rate, Dutch Disease and Manufacturing in South Africa: What do the Data Say?

Duncan Hodge
The Dutch disease argument suggests that in commodity exporting countries "overvaluation" of the currency due to increases in commodity prices harms manufacturing even though the economy as a whole benefits, led by the booming natural resources sector. The relationship between the real exchange...
May 2012
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