The Nexus Between Institution And Stochastic Growth In Selected Sub Saharan African Countries Evidence From Dynamic Panel Data Analysis
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| Author | : Derese Kebede Teklie |
| Publisher | : GRIN Verlag |
| Total Pages | : 111 |
| Release | : 2017-03-07 |
| Genre | : Business & Economics |
| ISBN | : 3668410569 |
Master's Thesis from the year 2016 in the subject Business economics - General, grade: Excellent, , course: Development Economics, language: English, abstract: Sub Saharan Africa economic growth shows a stochastic growth performance in which highly interrelated with faulty and fragile governance problems associated in the region. Accordingly, this thesis examines the contribution of formal institution explained by aggregated index for the six governance clusters measured by World Governance Indicator and individual level of each indicator on the stochastic growth behavior of selected SSA countries using data from forty two SSA countries over a period of 1996 to 2014. To examine the impact of institution and level of good governance, the study employed Arellano-Bond (1991) and Arellano-Bover (1995) dynamic panel generalized method of moments (GMM) technique of estimation. The estimated result suggested that variables such as foreign aid, public investment, consumption, imported capital good, inflation, control of corruption, rule of law, voice and accountability, political stability, government effectiveness, regulatory quality and the aggregate index governance measures (institution) are significant and positively contribute to stochastic growth performance in the region across each models. On the other hand, outward trade policy negatively contributes to SSA Stochastic growth behavior. In addition, the study surprisingly resulted that though foreign direct investment has no significant contribution in the study period its impact is negative in the region. A major policy implication arising from the results is that the advancement of institution and individual level of good governance are fundamental to the realization of sustained economic growth in SSA.
| Author | : Mr.Dhaneshwar Ghura |
| Publisher | : International Monetary Fund |
| Total Pages | : 32 |
| Release | : 1995-12-01 |
| Genre | : Business & Economics |
| ISBN | : 1451855753 |
The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.
| Author | : Nicholas M. Odhiambo |
| Publisher | : |
| Total Pages | : |
| Release | : 2021 |
| Genre | : |
| ISBN | : |
| Author | : Randall Ashley Starkey |
| Publisher | : |
| Total Pages | : 292 |
| Release | : 2010 |
| Genre | : Africa |
| ISBN | : |
| Author | : Nicholas M. Odhiambo |
| Publisher | : |
| Total Pages | : |
| Release | : 2021 |
| Genre | : |
| ISBN | : |
| Author | : Peter Gibbon |
| Publisher | : Nordic Africa Institute |
| Total Pages | : 108 |
| Release | : 1996 |
| Genre | : Business & Economics |
| ISBN | : 9789171063977 |
This report summarises the results of work at the Nordiska Afrikainstitutet/Nordic Africa Institute (NAI) on the impact of structural adjustment implementation on the economies, states and societies of sub-Saharan Africa. It consists of two essays and an appendix listing research projects which have been/are being carried out under the auspices of NAI. The first essay raises a series of conceptual and methodological questions in the context of a presentation of some of the main empirical results obtained from extended field work carried out during the course of 1992 and 1993 in Kenya, Tanzania and Zimbabwe. The second essay presents the three main themes - private trading networks and structures, the changing political economy of land, and popular forms of social provisioning - that constitute the core of the second phase of NAI's structural adjustment research and, in so doing, provides a review of aspects of the adjustment literature. This report is, therefore, an attempt both at stock-taking and agenda-building as part of a wider quest for deepening our understanding of the structures and processes of socio-economic change associated with the crisis and adjustment years in contemporary Africa
| Author | : K. Gyimah-Brempong |
| Publisher | : |
| Total Pages | : |
| Release | : 2010 |
| Genre | : |
| ISBN | : |
This paper explores the relationship between political instability and economic growth in Sub-Saharan African nations. A more comprehensive measure of political instability than has previously been developed is used in combination with a simultaneous equations model and dynamic panel estimation approach to produce several interesting inferences. First, the statistically significant inverse relationship between political instability and economic growth identified by earlier studies is confirmed by the estimates presented here. Second, the estimated system of equations indicates that economic growth and political instability are jointly endogenous. Third, in addition to the direct impact that political instability has upon growth, estimates confirm the hypothesis that political instability indirectly decreases economic growth by decreasing long-run capital accumulation. Fourth, failure to account for the dynamic nature of growth equations as well as the endogeneity of explanatory variables may produce biased effects of political instability on growth. Fifth, the broad measure of political instability we use in this study can better capture the effects of political instability on economic growth than `elite` instability that has been used by earlier researchers. Finally, principal components estimation is used to develop a measure of political instability that can serve as an alternative to the arbitrary weighting scheme used in previous research.
| Author | : Olufemi Aluko |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
Using a sample splitting approach that does not impose an exogenous quadratic term, we examine the effect of financial development on economic growth in sub-Saharan Africa by allowing the link to be mediated by the level of institutions. Our findings reveal a disproportionate growth-enhancing effect of finance, given countries' distinct level of institutional quality. More specifically, when the International Country Risk Guide-based measure of institutions is used as the threshold variable, below the optimal level of institutional quality, financial development does not significantly promote economic growth. For countries with institutional quality above the threshold, higher finance is associated with growth. However, when institutions are measured by World Governance Indicators proxy, we find a significant effect of financial development, irrespective of whether a country is below or above the threshold. Interestingly, the growth-enhancing effect of finance is greater for low-institution countries relative to high-institution countries. Thus, through its ability to provide some crucial roles, the well-developed financial sector may also perform the function of sound institutions in influencing economic growth.
| Author | : Sandrine Kablan |
| Publisher | : International Monetary Fund |
| Total Pages | : 27 |
| Release | : 2010-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1455201197 |
This study assesses the determinants of banking system efficiency in sub-Saharan Africa (SSA) and asks what, besides the degree of efficiency, explains the low level of financial development in the region. It uses stochastic frontier analysis to measure efficiency and a generalized method of moments system to explain financial development. SSA banks are found to be generally cost-efficient, but nonperforming loans undermine efficiency, which suggests that improvement in the regulatory and credit environments should improve efficiency. The political and the economic environment have held back financial development in SSA.
| Author | : Gail Cohen |
| Publisher | : International Monetary Fund |
| Total Pages | : 29 |
| Release | : 2018-03-13 |
| Genre | : Nature |
| ISBN | : 1484345282 |
For the world's 20 largest emitters, we use a simple trend/cycle decomposition to provide evidence of decoupling between greenhouse gas emissions and output in richer nations, particularly in European countries, but not yet in emerging markets. If consumption-based emissions—measures that account for countries' net emissions embodied in cross-border trade—are used, the evidence for decoupling in the richer economies gets weaker. Countries with underlying policy frameworks more supportive of renewable energy and climate change mitigation efforts tend to show greater decoupling between trend emissions and trend GDP, and for both production- and consumption-based emissions. The relationship between trend emissions and trend GDP has also become much weaker in the last two decades than in preceding decades.
