The effects of international financial inflows on economic complexity in Africa: does institutional quality play a moderation role?

Ogbuabor, Jonathan E.; Emeka, Ekene Thankgod; Orji, Anthony; Onuigbo, Fidelia N.

doi:10.1080/17487870.2023.2220862

Cited by 5 publications

(2 citation statements)

References 63 publications

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“…The results in Table 3 also indicate that economic policy uncertainty has a negative and significant impact on economic complexity in Africa. This finding aligns with some studies in the literature that have also obtained empirical evidence of the adverse effect of uncertainty on economic activities (Caggiano et al, 2020;Ekeocha et al, 2023;Kang et al, 2020;Mumtaz & Musso, 2021;Ogbuabor et al, 2023a). This finding resonates with the realities faced by African economies.…”

Section: Resultssupporting

confidence: 90%

Terrorism and economic complexity in Africa: The unconditional impact of military expenditure

Emeka,

Ogbuabor,

Ekeocha

2024

African Development Review

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Following the rising wave of terrorism in Africa, particularly in the last decade, this study investigated the effect of terrorism on economic complexity in the region as well as the moderating role of military expenditure in the terrorism–economic complexity relationship. A panel of 34 African economies was used over the period 2010–2021. The study also used the dynamic system generalized method of moments framework. We find that the unconditional effect of terrorism on economic complexity in Africa is predominantly negative and significant, and that military expenditure in the region has been ineffective in moderating this adverse effect. This finding remained robust regardless of whether terrorism is measured by the number of terrorism incidents, fatalities, injuries, or hostages. However, our results showed that industrialization, urbanization, and governance institutional quality are potent channels for promoting economic complexity in Africa. Among others, the study emphasized the need for policymakers and leaders in Africa to collaborate at the level of the African Union to address the detrimental effects of terrorism on the continent.

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Section: Resultssupporting

confidence: 90%

Terrorism and economic complexity in Africa: The unconditional impact of military expenditure

Emeka,

Ogbuabor,

Ekeocha

2024

African Development Review

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“…The data for these variables were sourced from the 2023 Massachusetts Institute of Technology's Observatory of Economic Complexity (2023; http://atlas.media.mit.edu), the World Bank (2023a, 2023b) and the United Nations Development Programme (2023). Some of the empirical studies that support the inclusion of these variables in this study are Ekeocha et al (2022), Maji and Wazirib (2021) and Ogbuabor et al (2023aOgbuabor et al ( , 2023b.…”

Section: Datamentioning

confidence: 84%

Effects of public infrastructural development and industrialization on economic complexity in Africa: Emerging insight from panel data analysis

Emeka,

Ogbuabor,

Nwosu

2024

African Development Review

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This study examined the effects of public infrastructural development and industrialization on economic complexity in Africa, and how industrialization is moderating the effect of public infrastructural development on economic complexity. The study adopted the pooled ordinary least squares, the dynamic system generalized method of moments and the dynamic bias‐corrected least squares dummy variable estimators with a panel of 34 African economies over the period 2010–2021. The findings revealed that public infrastructural development and industrialization contribute positively and significantly toward enhancing economic complexity in Africa. We also found that industrialization substantially moderates and enhances the influence of public infrastructural development on economic complexity. Furthermore, the results show that trade openness, foreign direct investment inflow, international tourism arrival and institutional quality are potent factors enhancing Africa's economic complexity, while the role of human capital remains muted. These findings suggest that African leaders and policy‐makers can foster economic complexity across the continent by embracing policies that prioritize increased infrastructural development, industrialization, trade openness and foreign direct investment inflow while improving the quality of institutions within the region.

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Gender economic inclusion, governance institutions and economic complexity in Africa

Emeka,

Asongu,

Ngoungou

2024

Sustainable Development

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This study examines the effects of gender economic inclusion on economic complexity in Africa, as well as the moderating role of governance institutions on the relationship between gender inclusion and economic complexity. The analysis was based on the pooled OLS and the system generalized method of moments (GMM) estimation techniques, with data from 34 African economies between 2010 and 2021. The analysis uncovered several important findings. First, from the most robust model (i.e., GMM), positive synergies are apparent because gender economic inclusion promotes economic complexity, and governance dynamics further enhance the positive effect of gender economic inclusion on economic complexity. Second, regardless of the adopted technique, a predominantly positive and statistically significant relationship was identified between gender economic inclusion and economic complexity. Third, it was observed that while governance institutions exhibit a negative relationship with economic complexity, they play a positive role in moderating the relationship between gender inclusion and economic complexity. Fourth, factors such as foreign direct investment inflow, trade openness, and international tourism were identified as potent drivers of economic complexity in Africa, while the impact of human capital appears to be relatively subdued. Consequently, the study emphasizes the need for institutional reforms to improve governance transparency, accountability, and efficiency, alongside advocating for gender‐inclusive policies and increased investment in education.

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The effects of international financial inflows on economic complexity in Africa: does institutional quality play a moderation role?

Cited by 5 publications

References 63 publications

Terrorism and economic complexity in Africa: The unconditional impact of military expenditure

Terrorism and economic complexity in Africa: The unconditional impact of military expenditure

Effects of public infrastructural development and industrialization on economic complexity in Africa: Emerging insight from panel data analysis

Gender economic inclusion, governance institutions and economic complexity in Africa

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