Political instability, investment and economic growth in Sub-Saharan Africa

Gyimah‐Brempong, Kwabena; Traynor, Thomas L.

doi:10.1093/jae/8.1.52

Cited by 152 publications

(85 citation statements)

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“…Gyimah-Brempong and Traynor (1999) find that political instability has a direct negative effect on growth and also an indirect effect via discouraging investment. Guillaumont, Guillaumont-Jeanney and Brun (1999) find that primary instabilities in SSA reduce growth by distorting economic policy; the rate of investment is volatile, hence the growth rate is lowered.…”

Section: Transmission Mechanismsmentioning

confidence: 86%

Aid and growth in Sub‐Saharan Africa: accounting for transmission mechanisms

Gomanee

Girma

Morrissey

2005

J of Intl Development

169

108

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This paper is a contribution to the literature on aid and growth. Despite an extensive empirical literature in this area, existing studies have not addressed directly the mechanisms via which aid should affect growth. We identify investment as the most significant transmission mechanism, and also consider effects through financing imports and government consumption spending. With the use of residual generated regressors, we achieve a measure of the total effect of aid on growth, accounting for the effect via investment. Pooled panel results for a sample of 25 Sub-Saharan African countries over the period 1970 to 1997 point to a significant positive effect of foreign aid on growth, ceteris paribus. On average, each one percentage point increase in the aid/GNP ratio contributes one-quarter of one percentage point to the growth rate. Africa's poor growth record should not therefore be attributed to aid ineffectiveness.

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Section: Transmission Mechanismsmentioning

confidence: 86%

Aid and growth in Sub‐Saharan Africa: accounting for transmission mechanisms

Gomanee

Girma

Morrissey

2005

J of Intl Development

169

108

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show abstract

“…This was attributed to the fact that, private investment is more efficient and less closely associated with corruption. (See Seck and El Nil (1993), Oshikoya (1994), Matsheka (1998), Calamitsis et al (1999), Gyimah-Brempong and Traynor (1999), Asante (2000), Ndikumana (2000), and Hoeffler (2002) for detailed narratives).…”

Section: Introductionmentioning

confidence: 99%

Modelling the Long Run Determinants of Domestic Private Investment in Nigeria

Ajide¹,

Lawanson²

2012

ASS

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The paper seeks to model the long run determinants of domestic private investment in Nigeria over the period 1970 to 2010, employing advanced econometric technique of Auto-Regressive Distributed Lag (ARDL) bounds testing approach. Emanated from the estimated models are intriguing findings which showed clearly that difference exist between long and short run determinants. Public investment, real GDP, real interest rate, exchange rate, credit to the private sector, terms of trade, external debts and reforms dummy are the key long run determinants of domestic private investment while public investment, real GDP and terms of trade are statistically significant in the short run. The policy prescriptions are that necessary infrastructures to complement domestic private investment should be put in place; that external debts be reduced to the barest minimum and negative effects of external shocks engendered by foreign direct investment uncertainty and deficit terms of trade should be prevented altogether.

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“…Gyimah-Brempong and Traynor (1999) use Arellano and Bond's (1991) two-step procedure to control for the impact of reciprocal causation in the relationship between conflict and both income and growth. 7 We can select as our denominator the number of members of the United Nations (call that number UN) or the number of nations with a population of 1 million or more (call that number POP).…”

Section: Lagged Effectsmentioning

confidence: 99%

Political conflict and state failure

Bates

2007

The Political Economy of Economic Growth in Africa, 1960–2000

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Political instability, investment and economic growth in Sub-Saharan Africa

Cited by 152 publications

References 0 publications

Aid and growth in Sub‐Saharan Africa: accounting for transmission mechanisms

Aid and growth in Sub‐Saharan Africa: accounting for transmission mechanisms

Modelling the Long Run Determinants of Domestic Private Investment in Nigeria

Political conflict and state failure

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