Openness and Economic Performance in Sub-Saharan Africa PDF Download
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Author: Kazi M. Matin
Publisher: World Bank Publications
ISBN:
Category : Apertura economica - Africa (Sud-Sahara)
Languages : en
Pages : 44
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Book Description
Author: Kazi M. Matin
Publisher: World Bank Publications
ISBN:
Category : Apertura economica - Africa (Sud-Sahara)
Languages : en
Pages : 44
Get Book Here
Book Description
Author: Ogede Jimoh Sina
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
There is a lack of strong empirical evidence on the relationship between openness and economic performance largely due to problems associated with the measurement of trade policy openness and analytical methods. This paper uses more appropriate policy based measures of openness since the most countries of Sub-Saharan Africa have made substantial changes over the last decade. The study examines the hypothesis that increased openness improves economic performance holds for selected Sub-Saharan Africa as a subgroup among developing countries for the period of 2000-2009. Equally, the study examines the extent at which Sub-Saharan Africa Countries has participated in the global economy using various indicators of economic integration and macroeconomic variables. Empirical analysis is carried out using panel data with Generalized Least Square Method (GLS) to measure the impact of Openness on the Economic Performance of selected countries in sub-Saharan Africa. The result of the finding shows the evidence of a positive link between openness and performance, surprisingly robust using the trade dependency ratio as a measure of openness, to different periods, and to the inclusion of other policy variables. The relationship is especially strong in fixed-effect estimates that use annual panel data with country dummies to capture unobserved country-specific differences. Thus, the size and significance of the openness coefficients do not change when one controls for macroeconomic performance.
Author: Markus Brüeckner
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper uses an instrumental variables approach to estimate the relationship between trade openness and economic growth in Sub-Saharan Africa. Instrumental variables estimates show that economic growth has a significant negative contemporaneous effect on trade openness, while trade openness has a significant positive effect on economic growth. A 1 percentage point increase in the ratio of trade over GDP is associated with a short-run increase in growth of approximately 0.5% in a given year; the cumulative long-run effect on the level of GDP per capita is larger, reaching about 2%.
Author: Voxi Heinrich Amavilah
Publisher: Rowman & Littlefield
ISBN: 149859784X
Category : Business & Economics
Languages : en
Pages : 147
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Book Description
Extant research continues to perpetuate a myth of Sub-Saharan African countries (SSACs) as ever stuck in the past and with incurable growth maladies. However, during the years just before the great global recession some of these countries performed better than countries in other regions. What explains this turnaround? How can it be ignited everywhere in the region and made to stick? The Political Economy of Economic Performance is among a few competitors that celebrate the successes of the region and argue for the positive economics of performance of at least some countries. Organized around two themes which are pursued in six chapters, the book provides a comprehensive, balanced, and thorough analysis of the factors and forces behind the unusually good performance of SSACs just before the great global recession, and shows that there is a way forward for them. The book makes a significant contribution to both policy and research, because while its structure is scholarly and logical, with a writing style that is coherent and easily understandable to all interested readers worldwide.
Author: Mr.Giovanni Melina
Publisher: International Monetary Fund
ISBN: 1484394534
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
We compare business cycle fluctuations in Sub-Saharan African (SSA) countries vis-à-vis the rest of the world. Our main results are as follows: (i) African economies stand out by their macroeconomic volatility, which is is reflected in the volatility of output and other macro variables; (ii) inflation and output tend to be negatively correlated; (iii) unlike advanced economies and emerging markets (EMs), trade balances and current accounts are acyclical in SSA; (iv) the volatility of consumption and investment relative to GDP is larger than in other countries; (v) the cyclicality of consumption and investment is smaller than in advanced economies and EMs; (vi) there is little comovement between consumption and investment; (vii) consumption and investment are strongly positively correlated with imports.
Author: J. H. Frimpong-Ansah
Publisher: St. Martin's Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 432
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Book Description
Results of a research project on "Trade and Development in Sub-Saharan Africa", organized by the Rockefeller Foundation, the Centre for Economic Policy Research and the Commonwealth Secretariat. Papers focus on export performance, the international trade system and the effects of various policies.
Author: Francisco Arizala
Publisher: International Monetary Fund
ISBN: 1484314166
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
This paper examines the growth performance of sub-Saharan African countries since 1960 through the lens of growth turning points (accelerations and decelerations) and periods of sustained growth (growth spells). Growth accelerations are generally associated with improved external conditions, increased investment and trade openness, declines in inflation, better fiscal balances, and improvements in the institutional environment. Transitioning from growth accelerations to growth spells often requires additional efforts beyond what is needed to trigger an acceleration. Growth spells are sustained by fiscal policy that prevents excessive public debt accumulation, monetary policy geared toward low inflation, outward-oriented trade policies, and structural policies that reduce market distortions, as well as supportive external environment and improvements in democratic institutions. Overall, determinants of growth spells in sub-Saharan Africa are different from those in the rest of the emerging and developing countries.
Author: Simplice Asongu
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This study investigates the simultaneous openness hypothesis by assessing the importance of trade openness in modulating the effect of foreign direct investment (FDI) on economic dynamics of gross domestic product (GDP) growth, real GDP and GDP per capita. The focus of the study is on 25 countries in Sub-Saharan Africa over the period spanning from 1980 to 2014. First, trade imports modulate FDI to induce net positive effects on GDP growth and GDP per capita. Second, trade exports moderate FDI to generate overall positive impacts on GDP growth, real GDP and GDP per capita. Implications of the study are discussed, inter alia: (i) both FDI and trade infrastructures are necessary for FDI-focused measures to engender positive economic development outcomes in host communities and countries. (ii) Macroeconomic conditions that are relevant for promoting economic development are necessary for the interactions between trade openness and FDI to generate favorable outcomes in terms of GDP growth, real GDP and GDP per capita.
Author: Mr.Antonio David
Publisher: International Monetary Fund
ISBN: 1498329055
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
This paper analyzes the links between financial and trade openness and financial development in Sub-Saharan African (SSA) countries. It is based on a panel dataset using methods that tackle slope heterogeneity, cross-sectional dependence and non-stationarity, important econometric problems that are often ignored in the literature. The results do not point to a general direct robust link between trade and capital account openness and financial development in SSA, once we control for other factors such as GDP per capita and inflation. But there is some indication that trade openness is more important for financial development in countries with better institutional quality. The findings might be due to a number of factors including distortions in domestic financial markets, relatively weak institutions and/or poor financial sector supervision. Thus, African policy makers should be cautious about expectations regarding immediate gains for financial development from greater international integration. Such gains are more likely to occur through indirect channels.
Author: Kyung-woo Lee
Publisher: International Monetary Fund
ISBN: 1451873638
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.
