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Results 1711-1720 of 1820 (Search time: 0.005 seconds).
Journal of African Development Studies (JADS)
Serial, Created By Ethiopian Civil Service College and Published By Africa Union (AU) in English language
Inflation and Output Growth Dynamics in South Africa: Evidence from the Markov Switching Vector Autoregressive Model
Journal article, Created By Bonga-Bonga, Lumengo and Published By Taylor & Francis Group in English language
This paper introduces the possibility of asymmetry in the reaction of output growth to inflation shocks in South Africa by making use of the Markov-switching vector autoregressive model. Using quarterly data from 1969Q1 to 2013Q4, the empirical finding suggests that the reaction of output growth to inflation shocks is not only regime dependent but is also contingent on how the monetary authority reacts to such shocks. Two important regimes are identified; the high and low inflation volatility regimes. Consistent with the signal extraction theory, the output ...
Economic Report on Africa 2011
Book/Monograph, Created By African Union (AU) and Published By African Union (AU) in English language
The world economy grew by 3.6 per cent in 2010 up from -2.1 per cent in 2009, but its growth is expected to moderate to 3.2 per cent in 2011. Africa’s rebound strengthened from the GDP growth rate of 2.4 per cent in 2009 to 4.7 per cent in 2010 and a forecast of 5 per cent for 2011. The recovery in Africa was underprinted by a number of factors, including the rebound of export demand and commodity prices; increase inflows of foreign direct investment in extractive industries and aid; return of tourism; investment in&#...
Fiscal variables and growth convergence in the ECOWAS
Journal article, Created By Magazzino, Cosimo and Published By Emerald in English language
The purpose of this paper is to assess the relationship among fiscal variables (net lending, government expenditure and revenue) and economic growth in Sub-Saharan African countries. ... Government expenditure and revenue show pro-cyclical effects in West African Economic and Monetary Union (WAEMU) and ECOWAS countries, while fiscal balance has a pro-cyclical nature for WAEMU during the years 1999-2011. Moreover, a weak long-run relationship between government expenditure and revenue emerge, but only in the case of West African Monetary Zone (WAMZ) countries. Granger causality...
Financial Development and Economic Growth in Africa
Journal article, Created By Tibebe A. Assefa and Published By Taylor & Francis Group in English language
We revisit in this paper the debate between financial development and economic growth. In contrast to previous studies examining banking related measures, we focus on the capital account and the depth of African stock markets. We examine 15 African countries from 1995 to 2010 and employ both static and dynamic panel data methods. While the former suggest weak results overall, portfolio flows and Foreign Direct Investment (FDI) have consistently positive effects on economic growth under endogenous stock market capitalization. These findings reinforce the view that...
Growth and Chronic Poverty: Evidence from Rural Communities in Ethiopia
Journal article, Created By Dercon, Stefan and Published By Taylor & Francis Group in English language
What keeps some people persistently poor, even in the context of relative high growth? In this article, we explore this question using a 15-year longitudinal data set from Ethiopia. We compare the findings of an empirical growth model with those derived from a model of the determinants of chronic poverty. We ask whether the chronically poor are simply not benefiting in the same way from the same factors that allowed others to escape poverty, or whether there are latent factors that leave them behind? We find that this chronic poverty is&...
Foreign Direct Investment, Trade Openness and Economic Growth in Ghana: An Empirical Investigation
Journal article, Created By Sakyi, Daniel and Published By Taylor & Francis Group in English language
This paper investigates the long-run impact of foreign direct investment and trade openness on economic growth in Ghana (1970?2011) within the framework of the endogenous growth literature. Adopting the autoregressive distributed lag bounds testing approach to cointegration the results suggest that the interaction of foreign direct investment and exports has been crucial in fostering growth, thus validating the famous Bhagwati hypothesis. From a policy oriented point of view, the study recommends the channeling of foreign direct investment to export-oriented sectors and the pr...
Growth, Stagnation or Retrogression? On the Accuracy of Economic Observations, Tanzania, 1961–2001
Journal article, Created By Jerven, Morten and Published By Oxford University Press (OUP) in English language
Statistics on African economic growth are widely known to be inaccurate, but the extent and nature of these inaccuracies and their implications for the users of the data have not been rigorously assessed. This article investigates measurement issues of economic growth in post-colonial Tanzania. It is shown here that conclusions on Tanzania's development performance are conditioned by selection of the source of growth evidence. The article argues for an agnostic perspective on Tanzanian economic growth. Modelling efforts of African growth are more sophisticated than&#x...
International tourism and economic growth: the case of Morocco and Tunisia
Journal article, Created By Bouzahzah, Mohamed and Published By Routledge and Taylor & Francis Group in English language
This study proposes to examine the impact of tourism activity on the economic growth of Morocco and Tunisia. We contribute here to the empirical literature on the tourism-led growth hypothesis (TLGH), by adopting the error correction model framework, the cointegration and Granger causality tests between real tourism receipts, real effective exchange rate and economic growth in Morocco and Tunisia, for the annual period 1980–2010; two main results emerge from this analysis. First, contrary to the predictions of the TLGH, the Granger test results show that this&#x...
Examining Imports of Capital Goods From China as a Channel for Technology Transfer and Growth in Sub-Saharan Africa
Journal article, Created By Munemo, Jonathan and Published By Taylor & Francis in English language
The author contributes to related literature by analyzing how economic growth in Sub-Saharan Africa is affected by the growing dependency on capital goods from China. The author finds robust evidence in support of the hypothesis that capital goods from China are an important technology transfer channel that enhances economic growth in Africa. Therefore, trade liberalization policies aimed at attracting Chinese capital on a non-preferential basis are important. In addition, the results also suggest that growth strategies based on greater physical and human capital accumula...