Journal Article

Openness, Investment and Growth in Sub-Saharan Africa

Hector Sala and Pedro Trivín

in Journal of African Economies

Volume 23, issue 2, pages 257-289
Published in print March 2014 | ISSN: 0963-8024
Published online January 2014 | e-ISSN: 1464-3723 | DOI: https://dx.doi.org/10.1093/jae/ejt027
Openness, Investment and Growth in Sub-Saharan Africa

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  • Macroeconomic Aspects of International Trade and Finance
  • Economywide Country Studies
  • Macroeconomics: Consumption, Saving, Production, Employment, and Investment
  • Economic Growth and Aggregate Productivity

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This paper revisits the determinants of economic growth in Sub-Saharan Africa by looking at conditional and unconditional convergence, and by focusing on the growth incidence of globalisation, domestic investment (DI), and foreign direct investment (FDI). We use annual time-series to estimate dynamic panel data models that exploit all sample information (i.e., we do not only use 5-year averages as is standard in the literature). We find the rate of conditional convergence to be around 4%, and the growth impact of FDI and DI to be greater the greater is the change in the degree of economic...

Keywords: O55; O47; F43; E22

Journal Article.  9973 words.  Illustrated.

Subjects: Macroeconomic Aspects of International Trade and Finance ; Economywide Country Studies ; Macroeconomics: Consumption, Saving, Production, Employment, and Investment ; Economic Growth and Aggregate Productivity

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