Drivers of Growth; Evidence from Sub-Saharan African Countries
| Autor: | Manuk Ghazanchyan, Janet Gale Stotsky |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Consumption (economics)
Government Exchange rate Liberalization Exchange rate regimes Economic growth Africa Foreign exchange Private investment Public investment Real effective exchange rates Sub-Saharan Africa growth real exchange rate exchange rate exchange rate regime General General Open Economy Macroeconomics Economic Growth of Open Economies General Economics General Earth and Planetary Sciences Aggregate data Monetary economics Current account Exchange-rate regime Random effects model General Environmental Science |
| Popis: | This study examines the drivers of growth in Sub-Saharan African countries, using aggregate data, from the past decade. We correlate recent growth experience to key determinants of growth, including private and public investment, government consumption, the exchange regime and real exchange rate, and current account liberalization, using various econometric methodologies, including fixed and random effects models, with cluster-robust standard errors. We find that, depending on the specification, higher private and public investments boost growth. Some evidence is found that government consumption exerts a drag on growth and that more flexible exchange regimes are beneficial to growth. The real exchange rate and liberalization variables are not significant. |
| Databáze: | OpenAIRE |
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