O11

Macroeconomic Analyses of Economic Development

Does Infrastructure Really Explain Economic Growth in Sub-Saharan Africa?

In the light of Africa’s palpable deficit in public infrastructure, we use System GMM to estimate a model of economic growth augmented by an infrastructure variable, for a panel of 45 Sub-Saharan African countries, over the period 2000-2011. We find that it is the spending on infrastructure and increments in the access to infrastructure that influence economic growth and development in Sub-Saharan Africa.

Financial Structure and Economic Development in Africa

This paper explores the relationship between economic development and financial structure: that is, whether the degree of financial system structure matter for pace and character of economic development in 15 African countries for the period of 1995 to 2011. The paper utilizes the fixed effect instrument variable technique for econometric estimation. None of the financial structure indicators enters any of the economic development regressions significantly at the conventional 10% level, which is inconsistent with bank-based and market-based system view of financial system.

The Fundamental Determinants of Competitiveness in African Countries

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 emphasizes high-value production by means of domestic and foreign factors in a way that is consistent with global supply chains. In this paper, we assess competitiveness in the business strategy framework through a Trade-Weighted Value added index (TWV).

Climate change and economic growth in sub-Sahara Africa: A nonparametric evidence

Climate change has been classed as the greatest and urgent global issue facing humanity today, yet the empirics of the debate remain largely muted, more so with reference to sub-Saharan Africa (SSA), where the impact of warming global temperatures are forecasted to have the worst impact. This paper is a contribution to the empirics of climate change and its effect on sustainable economic growth in SSA using nonparametric regression techniques.

Construction of a Social Accounting Matrix for Chad

The use of Applied General Equilibrium (AGE) models to contribute to discussions on economic growth and poverty alleviation in less developed countries has become widespread, particularly as data collection capabilities have improved over the past several years. Nevertheless the existence of a Social Accounting Matrix (SAM), the central source of data for any AGE model, remains lacking for many developing countries, often rendering the AGE exercise impractical in such cases.

Inflation and Economic Growth: Evidence from the Southern African Development Countries

In this paper we investigate the role of inflation rates in determining economic growth in fifteen sub-Saharan African countries, which are all members of the Southern African Development Community (SADC), between 1980 and 2009. The results, based on panel time-series data and analysis, suggest that in‡ation has had a detrimental effect to growth in the region. All in all, we highlight not only the fact that inflation has offset the prospective Mundell-Tobin effect and consequently reduced, the much needed, economic activity in the region,

Inflation and Economic Growth in the SADC: Some Panel Time-Series Evidence

In this paper we investigate the role of inflation rates in determining economic growth in fifteen sub-Saharan African countries, which are all members of the Southern African Development Community (SADC), between 1980 and 2009. The results, based on panel time-series data and analysis, suggest that in‡ation has had a detrimental effect to growth in the region.

Sources of Subsectoral Growth in South Africa

While South Africa’s growth performance has improved somewhat in recent years, it has generally been poor over the past few decades. This article uses Chenery’s factor decomposition method to analyse the sources of growth in South Africa from 1970 to 2007. Using input-output data, the growth of each subsector is decomposed into components associated with export growth, import substitution, growth in domestic demand, and growth in intermediate demand. The results highlight the dependence on domestic demand expansion as a source of growth since 2000, especially for manufacturing.

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