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on Africa |
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Issue of 2006‒04‒01
six papers chosen by Suzanne McCoskey Foreign Service Institute, US Department of State |
| By: | Manoj Atolia (Department of Economics, Florida State University) |
| Abstract: | The paper uses a currency substitution model to explain the stylized macroeconomic facts associated with productivity-enhancing reforms in countries of Africa. The model, when calibrated to Ghana and Uganda results in current account deficit and private capital inflows as well as changes in real interest rate, real exchange rate, and inflation comparable to those in data. Thus, currency substitution is important to understand macroeconomic dynamics in countries of Africa as many of them are currently undertaking such reforms. The paper also implements a new technique to solve for global nonlinear saddlepath for perfect foresight models with two state variables. The technique combines reverse shooting with the bisection method in two dimensions to systematically shoot for the trajectory in the state space that corresponds to the desired saddlepath. |
| Keywords: | Africa, Currency Substitution, Real Interest Rates, Capital Inflows, Nonlinear dynamics |
| JEL: | C63 F32 F41 O55 |
| Date: | 2003–10 |
| URL: | http://d.repec.org/n?u=RePEc:fsu:wpaper:wp2003_10_02&r=afr |
| By: | Yamano, Takashi; Ayalew, Daniel; Deininger, Klaus |
| Abstract: | Mixed evidence on the impact of formal title in much of Africa is often used to question the relevance of dealing with land policy issues in this continent. The authors use data from Uganda to assess the impact of a disaggregated set of rights on investment, productivity, and land values, and to test the hypothesis that individuals ' lack of knowledge of the new law reduces their tenure security. Results point toward strong and positive effects of greater tenure security and transferability. Use of exogenous knowledge of its provisions as a proxy for the value of the land law suggests that this piece of legislation had major economic benefits that remain to be fully realized. |
| Keywords: | Municipal Housing and Land,Real Estate Development,Agricultural Knowledge & Information Systems,Rural Land Policies for Poverty Reduction,Land Use and Policies |
| Date: | 2006–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:3868&r=afr |
| By: | Christopher Udry (Economic Growth Center, Yale University); Santosh Anagol (Yale University) |
| Abstract: | We show that the real return to capital in Ghana's informal sector is high. For farmers, we find annual returns ranging from 205-350% in the new technology of pineapple cultivation, and 30-50% in well-established food crop cultivation. We also examine the relative prices of durable goods of varying durability, and estimate a lower bound to the opportunity cost of capital of 60%. |
| Keywords: | Capital, durable goods, credit markets |
| JEL: | O12 O16 D24 |
| URL: | http://d.repec.org/n?u=RePEc:egc:wpaper:932&r=afr |
| By: | Johnson, Andreas (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | This paper discusses and models the potential of FDI inflows to affect host country economic growth. The paper argues that FDI should have a positive effect on economic growth as a result of technology spillovers and physical capital inflows. Performing both cross-section and panel data analysis on a dataset covering 90 countries during the period 1980 to 2002, the empirical part of the paper finds indications that FDI inflows enhance economic growth in developing economies but not in developed economies. |
| Keywords: | foreign direct investment; economic growth; developing economies; developed economies |
| JEL: | F21 F23 O40 |
| Date: | 2006–03–29 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0058&r=afr |
| By: | Agata Valentina D´Addato (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Abstract: | Nowadays, throughout Morocco a dynamic process of modernization is embracing fertility and nuptial behaviors, family planning, contraceptive use, the role and status of women in the family as well as in society, and political orientations, challenging the foundations of the patriarchal system. The progression from second to third birth is a crucial component in fertility change during fertility transition since the reduction especially in third and higher-order births maintains fertility decline. For these reasons, the study aims at analyzing the main determinants of third-birth intensities, applying an event-history analysis to the most recent retrospective Moroccan survey data. The findings show that differences among social groups still persist: higher risks of giving birth to the third child characterize women with a lower educational level and experiencing a rural background. Nevertheless, within the framework of the ongoing process of modernization in the country and geared to promote women’s status, all segments of the population are rapidly changing their fertility behaviors. Another interesting aspect that emerges from the analysis is that, within the framework of female emancipation, the preference of Moroccan mothers for a son is not relevant in the progression to the third child. Clearly, reproductive behavior in Morocco is consistent with families’ desire to have one boy to maintain the ancestral line, but no special desire for many boys is apparent, especially in the better educated subgroup. |
| Keywords: | Africa, demographic transition |
| JEL: | J1 Z0 |
| Date: | 2006–03 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2006-005&r=afr |
| By: | Denis H. Acclassato (LEO - Laboratoire d'économie d'Orleans - http://www.univ-orleans.fr/DEG/LEO - [CNRS : UMR6221] - [Université d'Orléans] - []) |
| Abstract: | L'importance des Institutions de Microfinance (IMF) dans les pays en développement n'est plus à démontrer. Elles ont accompli un miracle en permettant à des milliers d'exclus du système bancaire classique d'accéder à des services financiers. Mais une polémique naît quant aux coûts élevés associés à ces services. Cette étude a évalué, à partir d'une base de données financée par l'Association ‘‘Consortium Alafia'' des praticiens de la microfinance au Bénin, le niveau de taux d'intérêt viable pour la microfinance en termes d'offre de services financiers. Les résultats montrent que les micro-projets dont le taux de rentabilité interne ne dépasse pas 36 % ne pourraient être financés par les Institutions de Microfinance (IMF) au Bénin. La réglementation sur l'usure pourrait donc être suicidaire pour les IMF si elle se borne simplement à obliger les IMF à se conformer à la loi qui fixe le seuil d'usure à 27 %. Quasiment aucune IMF n'assurerait son autosuffisance opérationnelle, donc sa pérennité, en respectant ce seuil. |
| Keywords: | Taux d'intérêt effectif ; Viabilité financière ; Pauvreté ; Institution de Microfinance |
| Date: | 2006–03–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:papers:halshs-00009788_v1&r=afr |