Download or read book The nexus between institution and stochastic growth in selected Sub Saharan African countries Evidence from dynamic panel data analysis written by Derese Kebede Teklie and published by GRIN Verlag. This book was released on 2017-03-07 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Nexus of Institution and Stochastic Growth in Sub Saharan Africa written by Derese Kebede Teklie and published by . This book was released on 2017-04-09 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Institutions and the Financial Development Economic Growth Nexus in Sub Saharan Africa written by Olufemi Aluko and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Institutions Technology and Development in Africa written by Jeffrey James and published by Routledge. This book was released on 2018-12-07 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: An extensive literature has demonstrated that technologies in sub-Saharan Africa are largely inappropriate: that is, that they are typically capital- and import-intensive rather than labour- and local input-intensive. These technologies have created a pattern of development that is highly unequal, with widespread unemployment and under-employment. In this literature, however, relatively little attention has been paid to the institutions that govern the generation, adoption and use of technology. This book draws on historical analysis and case studies to evaluate how institutions in different countries, including those in Africa itself, generate technologies that vary in their characteristics and suitability for the region. Through these case studies, insight is gained into the characteristics of ‘appropriate’ institutions that might underlie a more balanced pattern of technology and development than currently exists. The findings of the book clearly confirm a major tenet of institutionalist theory: namely, that institutions developed in one set of circumstances are unlikely to be appropriate to conditions in a markedly different set. This book will be of interest to economists, social historians and anyone with an interest in modern African development.
Download or read book Market Institutions in Sub Saharan Africa written by Marcel Fafchamps and published by MIT Press. This book was released on 2003-12-05 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of recent data on the economic behavior of market institutions in sub-Saharan Africa, with implications for future research and current policy. In Market Institutions in Sub-Saharan Africa, Marcel Fafchamps synthesizes the results of recent surveys of indigenous market institutions in twelve countries, including Benin, Ghana, Kenya, Madagascar, Malawi, and Zimbabwe, and presents findings about economics exchange in Africa that have implications both for future research and current policy. Employing empirical data as well as theoretical models that clarify the data, Fafchamps takes as his unifying principle the difficulties of contract enforcement. Arguing that in an unpredictable world contracts are not always likely to be respected, he shows that contract agreements in sub-Saharan Africa are affected by the absence of large hierarchies (both corporate and governmental) and as a result must depend to a greater degree than in more developed economies on social networks and personal trust. Fafchamps considers policy recommendations as they apply to countries in three different stages of development: countries with undeveloped market institutions, like Ghana; countries at an intermediate stage, like Kenya; and countries with developed market institutions, like Zimbabwe. Market Institutions in Sub-Saharan Africa caps ten years of personal research by the author. Fafchamps, in collaboration with such institutions as the Africa Division of the World Bank and the International Food Policy Research Institute, participated in the surveys of manufacturing firms and agricultural traders that provide the empirical basis for the book. The result is a work that makes a significant contribution to research on the continuing economic stagnation of many countries in sub-Saharan Africa and is also largely accessible to researchers in other fields and policy professionals.
Download or read book Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa written by Osabuohien, Evans S. and published by IGI Global. This book was released on 2020-12-04 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: African countries are pursuing a number of development agendas toward achieving economic growth that is inclusive, pro-poor, and sustainable, particularly the type that can unleash the potential of women and booming youthful populations. However, available evidence shows that many African countries have experienced economic hardships and have performed more poorly than other developing and emerging countries in the global south. The Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa is an essential research publication that provides comprehensive research on the processes of building viable institutions in Africa that will serve as the fulcrum for utilizing and managing resources as well as promoting economic growth that is inclusive and sustainable. Featuring topics such as climate change, financial development, and poverty, this book is ideal for researchers, policymakers, developers, economic professionals, academicians, government officials, business professionals, and students.
Download or read book Institutions and Economic Growth in Sub Saharan African Countries written by Kedir Jemal and published by LAP Lambert Academic Publishing. This book was released on 2012-08 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan African countries is often known for its slow growth and widespread of poverty. Among the 20 poorest countries in the world 16 are Sub-saharan African countries. Factors for its under performance ranges from macroeconomic variables to its political and economic institutions including the quality of political leaders. Most studies only focused on the fundamental sources of growth like investment, human capital to explain the performance of Sub-saharan African Countries. Beside this the studies are not take in to account the reverse effect of growth on the quality of institution which lead to the endogenity of those variables that causes a problem in estimation and decreases both internal validity and external validity of the work. Thus this book give better insight for the one who is interested on this issues and how to resolve it
Download or read book Institutional Instability and Economic Growth in Sub Saharan Africa written by John Mukum Mbaku and published by . This book was released on 1993 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Growth in Sub Saharan Africa written by Mr.Dhaneshwar Ghura and published by International Monetary Fund. This book was released on 1995-12-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Banking Efficiency and Financial Development in Sub Saharan Africa written by Sandrine Kablan and published by International Monetary Fund. This book was released on 2010-06-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Health and Economic Growth written by Guillem López i Casasnovas and published by MIT Press. This book was released on 2005 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading international researchers offer theoretical and empirical microeconomic and macroeconomic perspectives on the ways a population's health status affects a country's economic growth.
Download or read book Public Debt and Growth written by Jaejoon Woo and published by International Monetary Fund. This book was released on 2010-07-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Download or read book An Inquiry Into Well being and Destitution written by Partha Dasgupta and published by Oxford University Press. This book was released on 1995 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt: An interdisciplinary book by one of the most respected scholars in what is broadly development economics but encompasses the most recent insights from philosophical research and empirical work on resource allocation, nutrition science, and anthropology. It has been widely recognized as aseminal work presenting a wide-ranging description of the causes and remedies of poverty and undernourishment, and addressing the current debate over methods of estimating their incidence.
Download or read book 50 Years of Central Banking in Kenya written by Patrick Njoroge and published by Oxford University Press. This book was released on 2021-04-01 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: Documenting important milestones in the epic journey traversed by the Central Bank of Kenya (CBK) over the last 50 years, 50 Years of Central Banking in Kenya puts into perspective the evolution of central banking globally and within the East African region, and contemplates future prospects and challenges. The volume is timely, mainly because within the last 50 years the global financial landscape has shifted. Central bankers have expanded their mandates, beyond the singular focus on inflation, and consider economic growth as their other important objective. Bank regulation has moved from Basel I, to Basel II, and some countries have fully migrated to Basel III while some are still at the cross-roads. 50 Years of Central Banking in Kenya captures the wide-ranging discussions on central banking, from a symposium to celebrate the 50 year anniversary on 13 September 2016 in Nairobi. The participants at the symposium included current and former central bank governors from Kenya and the East Africa region, high level officials from multilateral financial institutions, policy makers, executives of commercial banks in Kenya, private sector practitioners, civil society agents, executives and researchers from think tanks based in Kenya and the Africa region, leading academics in banking and finance, and university students. Beyond the symposium, the volume highlights the evolution of specific functions of CBK over the last 50 years (such as monetary policy, bank regulation, and payments system), as well as developments in Kenya's financial system which strongly relate to the functionality of CBK, such as financial innovation, the evolution of financial markets, and non-bank financial institutions in Kenya.
Download or read book Growth and Institutions in African Development written by Augustin K. Fosu and published by Routledge. This book was released on 2015-03-24 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent years have seen a sustained research effort exploring the African development experience. The extant literature has offered a large set of explanations as to why the African development record has lagged behind that of other regions of the developing world. This new volume brings international contributors together to focus on the role of growth and institutions. First, it provides brief evidence on the growth and institutional records, as well as on development outcomes, during the post-independence period. Second, it targets certain growth determinants, including industrial embeddedness, innovation, exchange rate regimes, and environmental quality. Third, it sheds light on the dynamics and distribution of growth, and on growth-enhancing sectors of the economy. Finally, it investigates several issues of institutional development, as well as institutions generating development outcomes. Though focused on these two key areas, the coverage strives to achieve a comprehensive analysis of how Africa’s development may have been enhanced or undermined and to offer lessons for the future. This volume is essential reading for all scholars of development economics and development studies.
Download or read book Aid Policy and Growth in Post conflict Societies written by Paul Collier and published by World Bank Publications. This book was released on 2002 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries emerging from civil war attract both aid and policy advice. This paper provides the first systematic empirical analysis of aid and policy reform in the post-conflict growth process. It is based on a comprehensive data set of large civil wars and covers 27 countries that were in their first decade of post-conflict economic recovery during the 1990s. The authors first investigate whether the absorptive capacity for aid is systematically different in post-conflict countries. They find that during the first three post-conflict years, absorptive capacity is no greater than normal, but that in the rest of the first decade it is approximately double its normal level. So ideally, aid should phase in during the decade. Historically, aid has not, on average, been higher in post-conflict societies, and it has tended to taper out over the course of the decade. The authors then investigate whether the contribution of policy to growth is systematically different in post-conflict countries, and in particular, whether particular components of policy are differentially important. For this they use the World Bank policy rating database. The authors find that growth is more sensitive to policy in post-conflict societies. Comparing the efficacy of different policies, they find that social policies are differentially important relative to macroeconomic policies. However, historically, this does not appear to have been how policy reform has been prioritized in post-conflict societies.
Download or read book Implementing the Water Energy Food Ecosystems Nexus and Achieving the Sustainable Development Goals written by Cesar Carmona-Moreno and published by IWA Publishing. This book was released on 2021-09-15 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book’s primary intention is to serve as a roadmap for professionals working in developing countries interested in the Nexus Water-Energy-Food-Ecosystems (WEFE) approach. The book shows a multi-disciplinary approach, showcasing the importance of the proper use of Nexus WEFE when implementing certain development programs in regions around the globe. It can be presented as a manual for an individual that either wishes to implement intervention projects following the NEXUS approach or students interested in cooperation and development. The book begins with a general explanation of the theoretical concepts and implementation processes of Nexus WEFE and continues getting into case studies, explaining the importance of proper implementation and potential drawbacks and solutions to them. This book has a particular focus on the European Union cooperation policies when implementing such an approach in developing countries.
