economic growth

publication

Reigniting Economic Growth: Lessons from three centuries of data

Roy Havemann & Edward Kerby
We estimate that since 1701, South Africa has experienced 163 years of per capita growth of more than 1 per cent a year. These expansions include 55 years of sustained per capita GDP growth of more than 3 per cent a year – windfall periods that were related to the discovery of diamonds and gold,...
Feb 2021
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publication

Foreign Direct Investment, Sectoral Effects and Economic Growth in Africa

Eric Evans Osei Opoku, Muazu Ibrahim, Yakubu Awudu Sare
Earlier studies on the impact of foreign direct investment (FDI) on economic growth have not been instructive largely on their failure to examine the sectoral transmission channels through which FDI affects overall growth. We re–examine the impact of FDI on economic growth in Africa relying on...
Dec 2018
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publication

Effect of Financial Development on Economic Growth in sub–Saharan Africa: Does Sectoral Growth Matter?

Muazu Ibrahim and Paul Alagidede
This paper examines the overall economic growth effect when the growth in finance and real sector is disproportionate relying on panel data for 29 sub–Saharan African countries over the period 1980–2014. Results from the system generalized method of moments (GMM) reveal that, while financial...
Jul 2018
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publication

Financial Structure and Economic Growth: Evidence from Sub-Saharan Africa

Naomi Mathenge & Eftychia Nikolaidou
This study examines the effect of financial structure on economic growth in Sub Saharan Africa. The sample consists of both low and middle income countries, whose financial systems range from poorly developed to relatively well- developed in the context of developing countries. Using dynamic panel...
Feb 2018
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publication

Institutions and Other Determinants of Total Factor Productivity in Sub-Saharan Africa

David Fadiran and Olusegun A. Akanbi
The primacy of factors of production, such as labour and capital, over Total Factor Productivity (TFP) in stimulating economic growth, has long been a contentious subject in discussions on the underlying causes of economic growth. While the roles of labour and capital have been exhaustively...
Oct 2017
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publication

Evolution of Institutions in Ghana and Implications for Economic Growth

Wisdom Akpalu, George Agbenyo, Emmanuel Maluke Letete and Mare Sarr
This report discusses the evolution of institutions and compares the quality of key formal institutions (Political and Civil Liberties, Political Instability, and Property Rights) from Ghana’s colonial era to its post-independence. The Political and Civil Liberties and Political Instability are...
Sep 2017
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publication

The Nexus between Infrastructure (Quantity and Quality) and Economic Growth

Chengete Chakamera and Paul Alagidede
This paper examines the growth effects of infrastructure stock and quality in Sub Saharan Africa (SSA). While previous studies established that the poor state of infrastructure in SSA slows economic growth, there is little evidence on infrastructure quality and a robust analysis on the causal links...
Jul 2017
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publication

Exploring the nexus of electricity supply and economic growth in South Africa

Hlalefang Khobai, Gift Mugano and Pierre Le Roux
This paper investigates the causal relationship between electricity supply and economic growth in South Africa using annual data covering the period between 1985 and 2014. This paper used a multivariate framework which included trade openness, electricity price, capital and employment as...
Jan 2017
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publication

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

Odongo Kodongo and Kalu Ojah
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...
Dec 2016
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publication

The Impact of Basic and Social Infrastructure Investment on Economic Growth and Social Development in South Africa’s Urban and Rural Municipalities

Henk Gnade, Derick Blaauw and Talita Greyling
Basic and social infrastructure investment can assist in addressing widespread inequality and divided societies by promoting economic growth and social development. The aim of this study is to determine whether basic and social infrastructures investment differently affect economic growth and...
Oct 2016
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