ABSTRACT The study aimed at estimating the threshold effects of public debt on economic growth within Africa using the Autoregressive Distributed Lag (ARDL), Distributed Lag (DL), Cross-sectionally augmented ARDL, and the Cross-sectionally augmented CS-DL models. The study also looked at the long-run effects of increasing public debt growth on economic growth. The study employed data from the Historical Public Debt Database (HPDD) and the International Financial Statistics (IFS) of the Intern...
ABSTRACT In East Africa, the idea of economic c1ime is a new concept in the legal perspective and has only been recently embraced in the 21" Century. Practically however, economic crimes, and more specifically money laundering, have been taking place for centuries. Among others, weak and poor legal systems and reluctance to enforce the laws has led to the growth of this type of crime. The end result is that East Afi·ica has become a huge hub for illegal drugs, illegal anns and most recently...
ABSTRACT Different countries in Eastern and Southern Africa (ESA) have experienced different levels of growth of their domestic Government bond markets due to various factors. This study aimed at evaluating the drivers of the growth of domestic government domestic bond markets in selected countries in Eastern and Southern Africa during the period 2003-2015. The main study problem is the inability of countries to sustainably fund their budgetary deficits from dependable and reliable local sour...
The African Union was formed to cater for the needs and aspiration of member states amongst the various set objectives Achieve greater unity and solidarity between the African countries and the other people of AfricaDefend the sovereignty, territorial integrity and independence of its member statesAccelerate the political and socio- economic integration of the continentPromote and defend African common position on issues of interest to the continent and its peopleEncourage international coop...
ABSTRACT Despite other contributions made to economic growth by other variables such as real growth in services and population growth, there has been an unending debate between exports’ contribution to economic growth in the Southern African Development Community (SADC). The purpose of this study was to examine the contribution of exports to economic growth in Southern African Countries for the period 2005 to 2016. A Random Effects Panel Data Model (REM) was used as the estimation techniqu...
ABSTRACT This study contributed to the debate on the relationship between military expenditure and economic growth in less-developed economies by investigating the trend; causal relationship and the effect of military expenditure on economic growth in five selected sub-Sahara African Countries namely:- Angola, Cameroon, Kenya, Nigeria and South-Africa; for the period 1986 to 2014. The study employed the Error Correction Mechanism (ECM) using time se...
Asia has been one of the most dynamic regions with renown rapid economic growth and development in recent times. In the past few decades, several developing economies such as in Asia have successfully transformed their economies and are acknowledged as newly industrialized economies through conscious technological researches and innovations. The new industrialisers such as China, South -Korea, Malaysia, Japan, India etal are now acknowledged as the key ‘Giants’ giants’ in the global eco...
Abstract West African countries are wealthy countries with abundance of both human and natural resources. Some of its member countries are leading member of the OPEC countries. Surprisingly poverty in West African countries is at an alarming rate. Most of its countries are categorized as underdeveloped countries with highest rate of corruption in the world. It is characterized by very weak economies and very low growth rates. There is prevalence of abject poverty as a result of poor economic...
Abstract China’s remarkable economic growth and relative stability have seen it taking on bigger international roles as an economic and political power of its own kind and in its own right. In fact, it has been opined that “there is unequivocal evidence that China has positioned itself as (the) economically relevant country in the world in recent times such that, it is described as the world’s emerging giant among emerging economies, and as ‘economic powerhouse’.” Being this plane...
Introduction Globalization is a process of global economic, cultural, and political integration. It is playing an important role and has brought new opportunities for African countries such as growth and improved productivity and living standards, technological transfer, conflict resolution etc. Globalization is a complex and multidimensional phenomenon of contemporary society. Therefore, the areas of conflict and conflict resolution are also affected by this phenomenon. Conflicts are pa...
The burgeoning interest on the importance of stock market inmodern economies has reinforced the growing notion that finance is paramountto economic growth and in particular the rising debate on the fledgling state ofWest African stock markets coupled with the implications for the sub-region’semerging economies which are worrisome. Hence, the paper examines the longrun and causal relationship between stock market development and WestAfrican emerging economies in a comparative context of Ghan...
Poor governance in Sub-Saharan Africa has been a major hindrance to economic growth of the region compared to other regions in the rest of the world. To examine the influence of governance on economic growth of Sub-Saharan Africa, panel data on growth rate of Gross Domestic Product, governance indicators and other indicators of the three selected Sub-Saharan Africa countries namely Nigeria, South- Africa and Ghana for the period of 1996-2015 were sourced from World Development Indicators of t...
Africa is the world's second-largest continent, covering an area of approximately 30.2 million square kilometers. It is home to 54 countries, each with its unique culture, history, and natural resources. The continent is rich in natural resources, including oil, gas, minerals, and agricultural commodities, which are in high demand globally. The African continent plays a significant role in the global commodity trade, providing the world with critical raw materials. Africa is a leading produce...
The continent of Africa has recorded impressive economic growth for over two decades. Factors identified as contributing to this growth include commercial oil deposits, inflation control, government liberalization and privatization policies, foreign direct investment, private sector investment in industries such as construction and service sectors, and a strong agricultural production. The continent is likely to continue enjoying strong economic growth if these resources are well managed. Afr...
ABSTRACT It has long been argued that a country cannot develop without government. However, researchers have diverse opinions with regards to the impact of government size on economic growth. Whiles some researchers (Ahuja, 2013; Zareen & Qayyum, 2014) argue that large government size is most likely to enhance economic growth, other researchers (Armey, 1995; Vedder & Gallaway, 1998) believe that higher government expenditure has a tendency to harm economic growth. The third group of researche...