|
on Africa |
| By: | Djemaï, Elodie |
| Abstract: | This paper questions the positive relationship between HIV prevalence and income in Sub-Saharan Africa. In this paper, we hypothesize that a greater economic instability would reduce the incentives to engage in self-protective behaviors inducing people to increasingly take the risk of HIV-infection and hence causing a rise in HIV prevalence. We provide a simple model to stress on the effects of an increase in income risk in the incentives for protection. We test the prediction using a panel of Sub-Saharan African countries over the period 1980-2001. It is shown that the epidemic is widespread in countries that experience a great macroeconomic instability over the whole period. When introducing income instability, wealth is devoid of predictive power and the puzzle of the positive relationship between income and prevalence in Africa is lifted. Additional finding states that the risk taking of HIV-infection increases when the individuals are facing frequent and large crop shocks. |
| Keywords: | HIV/AIDS epidemic; incentives; self-protection; macroeconomic instability; Sub-Saharan Africa |
| JEL: | J10 I12 C23 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:11731&r=afr |
| By: | Dorothée Boccanfuso (GREDI, Faculte d'administration, Université de Sherbrooke); Luc Savard (GREDI, Faculte d'administration, Université de Sherbrooke) |
| Abstract: | In this paper we use a CGE macro-micro modelling approach to analyse the distributional impact of the food crisis and to examine a couple of policy responses in two neighbouring West African countries. Both countries are strongly dependent on agriculture; both have similar climates and share many other features. However, the approach we use captures structural differences at both the macro level and the micro level for household income and expenditure structures. Our results reveal surprising and significant differences for poverty impact at the national and sub-group levels, as well as for inequality and pro-poor analysis. These differences are present for the world price increase of agricultural goods as well as policy responses to the food crisis. Our results highlight the importance of country-specific analysis and the risk of extrapolating conclusions from one country to another. |
| Keywords: | Impact analysis, computable general equilibrium modeling, food crisis, Africa |
| JEL: | D58 I32 O57 Q18 R13 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:shr:wpaper:08-20&r=afr |
| By: | Cally Ardington (University of Cape Town); Anne Case (Princeton University); Victoria Hosegood (London School of Hygiene and Tropical Medicine and Africa Centre for Health and Population Studies) |
| Abstract: | In many parts of the developing world, rural areas exhibit high rates of unemployment and underemployment. Understanding what prevents people from migrating to find better jobs is central to the development process. In this paper, we examine whether binding credit constraints and childcare constraints limit the ability of households to send labor migrants, and whether the arrival of a large, stable source of income – here, the South African old-age pension – helps households to overcome these constraints. Specifically, we quantify the labor supply responses of prime-aged individuals to changes in the presence of pensioners, using longitudinal data collected in KwaZulu-Natal. Our ability to compare households and individuals before and after pension receipt, and pension loss, allows us to control for a host of unobservable household and individual characteristics that may determine labor market behavior. We find that large cash transfers to elderly South Africans lead to increased employment among prime-aged members of their households, a result that is masked in cross-sectional analysis by differences between pension and non-pension households. Pension receipt also influences where this employment takes place. We find large, significant effects on labor migration upon pension arrival. The pension’s impact is attributable both to the increase in household resources it represents, which can be used to stake migrants until they become self-sufficient, and to the presence of pensioners who can care for small children, which allows prime-aged adults to look for work elsewhere. |
| JEL: | O12 H31 J20 |
| Date: | 2008–01 |
| URL: | http://d.repec.org/n?u=RePEc:pri:rpdevs:1010&r=afr |
| By: | Jean-Philippe BERROU (GREThA-GRES); François COMBARNOUS (GREThA-GRES) |
| Abstract: | As to explore social networks influence in African informal economy, this paper fits in the conceptual framework of reticular embeddedness. By going into the analyse of ties strength, our purpose is to question the real influence of ties content. We use a recent original dataset to evaluate how entrepreneurs’ networks influence their activities economic outcomes. ‘Multiple name generators’ method provides a vast amount of information about ties content, which can be treated by factor analysis to describe and categorize networks. Finally, we show that not only business ties but the particular configuration of ties strength in networks improve informal earnings. |
| Keywords: | Informal economy; embeddedness; social networks; informal earnings |
| JEL: | O17 Z13 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:grs:wpegrs:2008-19&r=afr |
| By: | Antonio Ciccone |
| Abstract: | I examine whether civil conflict is triggered by transitory negative economic shocks. My approach follows Miguel, Satyanath, and Sergenti (2004) in using rainfall as an exogenous source of economic shocks in Sub-Saharan African countries. The main difference is that my empirical specifications take into account that rainfall shocks are transitory. Failure to do so may, for example, lead to the conclusion that civil conflict is more likely to break out following negative rainfall shocks when conflict is most probable following years with exceptionally high rainfall levels. |
| Keywords: | Transitory shocks, mean reversion, rainfall, conflict |
| JEL: | O0 P0 Q0 |
| Date: | 2008–08 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:1127&r=afr |
| By: | Bernard Decaluwé; Epiphane Adjovi; Véronique Robichaud |
| Abstract: | Economic and financial crisis in Benin since 1980s led the government to embark on a process of economic reforms in 1991. These reforms sought to remedy the fiscal and trade imbalances in order to accelerate economic growth. Trade policy reform was given priority. Import bans and quotas were eliminated, import duties abolished and a compensatory tax on commodities sold in the domestic market instituted. This study analyzes the effects of the trade policy reforms using a computable general equilibrium (CGE) model and household survey data. Results show that these reforms are more beneficial to households in urban areas, but contribute to worsening poverty conditions of the most poor in rural areas. If liberalization policies target better strategies aimed at fighting poverty, or at least not deteriorating the situation, they need to be designed in a way that they do not worsen the poverty conditions of the most destitute in society. |
| Keywords: | CGE, trade, poverty, Benin |
| JEL: | D6 F13 F14 H3 I38 O55 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:lvl:mpiacr:2008-14&r=afr |
| By: | Christian Arnault Émini; Dorine Kanmi Feunou |
| Abstract: | Ce papier décompose la contribution des politiques économiques majeures menées au Cameroun, dans la réduction de la pauvreté entre 1993 et 2001. Pour cela, un modèle de microsimulation en équilibre général calculable, avec double calibration a été utilisé. Il en résulte que les changements technologiques survenus entre 1993 et 2001 expliquent à eux seuls 31% de la réduction de la proportion de pauvres (FGT0) au niveau national, et 45% de la croissance du PIB, avec une tendance à tirer le niveau des prix à la consommation vers le bas. Les changements technologiques renvoient ici aux variations des valeurs des paramètres d'échelle connus dans les fonctions de production et de différenciation des produits par origine ou par destination. Les contributions de la dévaluation de 1994 du Franc CFA, de la réhabilitation des infrastructures, et de la réforme fiscale de 1994, représentent respectivement 1%, 11% et 3% dans la croissance du PIB; et 65%, 0% et 11% dans la hausse des prix à la consommation; 2%, 9% et -4% dans la réduction de l'indice FGT0. |
| Keywords: | Double calibration, décomposition d'impacts, microsimulation, dévaluation, modèles EGC, changements technologiques, réformes fiscales et douanières, infrastructures de base |
| JEL: | C68 D58 H22 H54 I32 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:lvl:mpiacr:2008-17&r=afr |
| By: | Kamilya Tazhibayeva; Anna Ter-Martirosyan; Aasim M. Husain |
| Abstract: | This paper empirically assesses the impact of oil price shocks on the underlying non-oil economic cycle in oil-exporting countries. Panel VAR analysis and the associated impulse responses indicate that in countries where the oil sector is large in relation to the economy, oil price changes affect the economic cycle only through their impact on fiscal policy. Once fiscal policy changes are removed, oil price shocks do not have a significant independent effect on the economic cycle. |
| Keywords: | Oil exporting countries , Fiscal policy , Business cycles , Oil prices , Nonoil sector , Economic growth , Economic models , |
| Date: | 2008–11–07 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:08/253&r=afr |
| By: | Richard Hughes; Alejandro Hajdenberg; Teresa Ter-Minassian |
| Abstract: | A common dilemma facing governments around the world is how to meet the sizeable fiscal costs of providing and maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules, budgetary reforms, tax policy and administration measures, public-private partnerships and other innovative financial instruments to raise additional finance for infrastructure investment. This paper looks at the range of options for raising the financing to meet Tanzania's infrastructure needs. It begins with a brief survey of the evidence on the relationship between infrastructure, public investment, and economic growth, and then goes on to consider the case for additional infrastructure investment in Tanzania. The second part of the paper looks at five broad options for mobilizing additional resources to meet Tanzania's infrastructure needs: (i) direct private investment and PPPs, (ii) expenditure reprioritization and efficiency, (iii) domestic revenue mobilization, (iv) external grants and concessional financing, and (v) sovereign borrowing on domestic or international credit markets. The paper concludes with some general recommendations on what combination of the above approaches might be suitable for Tanzania. |
| Keywords: | Working Paper , Tanzania , |
| Date: | 2008–11–13 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:08/256&r=afr |
| By: | Julien Reynaud (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.); Julien Vauday (Campus Université Paris 1. CES . 106-112 Boulevard de l'Hôpital. 75647 Paris cedex 13, France.) |
| Abstract: | There is growing awareness that the distribution of IMF facilities may not be influenced only by the economic needs of the borrowers. This paper focuses on the fact that the IMF may favour geopolitically important countries in the distribution of IMF loans, differentiating between concessional and nonconcessional facilities. To carry out the empirical analysis, we construct a new database that compiles proxies for geopolitical importance for 107 IMF countries over 1990–2003, focusing on emerging and developing economies. We use a factor analysis to capture the common underlying characteristic of countries' geopolitical importance as well as a potential analysis since we also want to account for the geographical situation of the loan recipients. While controlling for economic and political determinants, our results show that geopolitical factors influence notably lending decisions when loans are nonconcessional, whereas results are less robust and in opposite direction for concessional loans. This study provides empirical support to the view that geopolitical considerations are an important factor in shaping IMF lending decisions, potentially affecting the institution's effectiveness and credibility. JEL Classification: F33, H77, O19. |
| Keywords: | factor analysis, geopolitics, International Monetary Fund, potential analysis. |
| Date: | 2008–11 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20080965&r=afr |
| By: | Ansie de Wet (Departement Ekonomie, Universiteit Van Stellenbosch) |
| Abstract: | Oor die afgelope paar jaar was daar sterk groei in die vraag na Suid-Afrikaanse musiek, in besonder Afrikaanse musiek. Die artikel poog om die groei te verduidelik deur die model van rasionele verslawing van Stickler en Becker te kombineer met die bandwagon effek. In die model lei die verbruik van musiekwaardering in een periode tot ‘n groter verbruik in die volgende periode. Musiekwaardering word deur faktore soos musiekkapitaal, musiekprodukte asook sosiale faktore deur die verbruiker geproduseer. Die faktore word binne die konteks van die Afrikaanse musiekbedryf bespreek om sodoende die model toe te pas en die groei in vraag te verduidelik. |
| Keywords: | Rasionele verslawing, bandwagon effek, musiekindustrie, Afrikaanse musiek, huishoudelike produksiefunksie, Advertensie |
| JEL: | D11 L82 M37 Z11 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:sza:wpaper:wpapers68&r=afr |
| By: | DIAGNE, Abdoulaye (Consortium pour la Recherche Economique et Sociale (CRES) - Université Cheikh Anta Diop, Dakar, Sénégal); NIANG, Abdou-Aziz (LEG - CNRS UMR 5118 - Université de Bourgogne) |
| Abstract: | The aim of this paper is to check whether the economic and monetary policies developed under the CFA area create co-movements of business cycles of member countries. Indeed, the synchronization of business cycles is a result which can help to appreciate the degree of regional integration. Using the generalized dynamic factor model by Forni et al. (2004), we analyzed the one hand the co-movements between countries of CFA area over the period 1980-2004 and on the other hand we also conducted an analysis for UEMOA and CEMAC areas over the same period. This enabled us also to examine the effectiveness of the economic and monetary integration policies which are specific to these two sub-regional entities and also to check determinants of co-movements in their business cycles. |
| Keywords: | regional integration ; Co-movement ; Dynamic Factor Model ; CFA area |
| JEL: | F02 E30 C33 F41 |
| Date: | 2008–10 |
| URL: | http://d.repec.org/n?u=RePEc:lat:legeco:2008-08&r=afr |
| By: | Mehdi Abbas (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II) |
| Abstract: | Cette note aborde la question de l'accession à l'OMC de l'Algérie. Engagée depuis 1987, la procédure est la plus longue que connaît l'Organisation. Dès lors, la note développe une analyse cherchant à expliquer la durée de cette procédure d'accession. Elle avance trois séries d'explication. La première renvoie à la nature même de la procédure. La deuxième porte sur les déterminants économiques. La troisième insiste sur le système d'économie politique algérien comme facteur prépondérant de la durée de l'accession de l'Algérie à l'OMC. |
| Keywords: | Organisation Mondiale du Commerce ; politique économique ; système économique ; négociation internationale ; économie politique ; Algérie |
| Date: | 2008–11–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00340534_v1&r=afr |
| By: | Moffat, Boitnmelo (University of Wollongong); Valadkhani, Abbas (University of Wollongong) |
| Abstract: | This paper examines technical and pure technical efficiencies of ten major financial institutions in Botswana for each year during the period 2001-2006 using data envelopment analysis. In order to obtain more robust and reliable results, the sensitivity of our efficiency indices were put into test by choosing three alternative approaches in specifying the mix of inputs and outputs. The empirical results indicate that: (a) no matter which approach and year are taken into consideration, Baroda and FNB (which are both foreign banks) and BSB (which is a publicly owned institution) are consistently among the most efficient institutions and BDC, ABC and NDB are the least efficient ones; (b) the most efficient banks are either small or large institutions in terms of their asset sizes; (c) due to the small sample size, the evidence of a relationship between the age of institutions and their technical efficiencies remains inconclusive. One can conclude that financial institutions can further enhance efficiency by adopting self-service technologies such as telephone and internet banking which can substantially reduce their service delivery costs. |
| Keywords: | Botswana, Technical efficiency, Data envelopment analysis, financial institutions. |
| JEL: | C14 C61 G21 G2 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:uow:depec1:wp08-14&r=afr |
| By: | Jesus Crespo Cuaresma; Harald Oberhofer; Paul Raschky |
| Abstract: | This paper develops a simple model that analyses the relationship between a country’s oil endowment and the duration of its autocratic leader. The dictator uses the rents from oil extraction for both personal gain and to pay-off potential opposition and chooses an optimal level of oil exploitation. A group of kingmakers, on the other side, decides whether to stage a coup d’état and establish a new dictator. The relationship between oil endowment and the duration of the dictatorial regime is modulated by the price of oil. Applying an empirical survival model on data for the duration of 106 dictatorships supports the predictions of the theoretical model. |
| Keywords: | Natural resources, dictatorship, political economy, duration. |
| JEL: | Q34 D72 H11 |
| URL: | http://d.repec.org/n?u=RePEc:inn:wpaper:2008-24&r=afr |
| By: | Nona Mikhelidze (Istituto Affari Internazionali); Nicoletta Pirozzi (Istituto Affari Internazionali) |
| Abstract: | The paper describes and analyses the role of civil society in five conflict cases – Abkhazia, Nagorno-Karabakh, Transnistria, Western Sahara and Israel/ Palestine. It evaluates the relative effectiveness of civil society organisations (CSOs) and assesses the potential and limits of CSO involvement in conflicts. In particular it concentrates on civil society activities in the fields of peace training and education, including formal and non-formal education, as well as research and media work. The research also identifies the obstacles that local third sector is faced with, examining experiences and lessons learned. The study then presents critical assessments of local CSO contributions to conflict transformation and concludes with a set of suggestions for local and mid-level civil society actors involved in these five conflict cases and beyond. This paper is an overview study, to provide ideas and documentation to the more detailed empirical research carried out in the context of the MICROCON Work Package ‘Conflict in the European Neighbourhood’. |
| Keywords: | Civil society, European Union, European Neighbourhood, Abkhazia, Nagorno-Karabakh, Transnistria, Western Sahara, Israel/Palestine, violent conflict, conflict transformation |
| JEL: | F35 D74 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:mcn:pwpapr:3&r=afr |
| By: | Moffat, Boitnmelo (University of Wollongong); Valadkhani, Abbas (University of Wollongong); Harvie, Charles (University of Wollongong) |
| Abstract: | The productivity and efficiency of the financial sector is pivotal to the attainment of economic growth and development in developed and developing economies alike, and is of particular interest in the wake of financial sector reform and restructuring. This study applies the Malmquist productivity index to measure and decompose the total factor productivity change of ten financial institutions in Botswana in its post reform era, covering the period 2001-2006, into a ‘catching up’ or efficiency change, and a ‘frontier shift’ or technological change. The robustness and sensitivity of the empirical results presented is assessed by comparing outcomes from different input and output combinations derived from using the value added, intermediation and operating approaches. The empirical results indicate a loss or little productivity gain in Botswana’s financial institutions, arising mainly from technological regress. Policy implications from this are highlighted in the paper. |
| Keywords: | Botswana, Malmquist indices, Productivity, Financial Institutions |
| JEL: | C14 C61 C6 G2 G21 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:uow:depec1:wp08-13&r=afr |
| By: | Badri, Balghis; Knuth, Hardine |
| Abstract: | This research is the outcome of fieldwork undertaken between November 2002 and 2003 in Al Gharaza village part of Khartoum State - the Sudan capital. The study focuses on identifying how spaces and times are interrelated and engendered. The forces that impact the creation of boundaries or those that direct change are analysed. How women€ٳ boundaries and spaces are defined and their interaction with them and bringing about new arrangements for spaces is discussed. How time is used, division of labour engendered, time conceptualized are highlighted. It is found that tradition and customs of exclusiveness as a value create a siege binding women spaces within the village and impact on their use of time: education is an important force that manages to crack the siege and open up to women some public space within the village. Outside forces for development or Islamization remained distant from the village; the villagers themselves desired a state of being apart from theses forces. The consequence is a situation of exclusiveness from both economic development efforts and political integration. The value of exclusiveness of €ܯthers€ݬ inclusiveness from within; of the €ܷeÂ€Ý and €ܴheyÂ€Ý have made the villagers to lead self-social development, which they desire and could afford, such as €ܢuilding schools and supporting teachers€ݮ The interface between development, culture and social structures of the village life became evident. Minimal outside efforts to introduce development did not sustain. This made villagers step forward to initiate their own development, while development they doubt its consequenses is resisted. However, the more villagers think that development will make them keep their integrity and exclusiveness; it is welcomed. On the other hand, the more it will lead to changing the social structure of exclusiveness and integrity, it is resisted. Hence, they did not encourage negotiating repairing the agricultural scheme water pump for fear that it will lead to redistribution of land ownership and bringing outsiders to the village. They kept to endogenous marriage for both genders, limiting women€ٳ movement outside the village through values of protection and honour keeping, all are mechanisms to maintain exclusiveness from strangers. The men as the key players, owners of assets and income, defined the boundaries for both genders, respected them and gave themselves the authority of decision taking both inside and outside the household and in the public arena. Both genders respect, acknowledge and seem satisfied with the social structure of defined spaces, time use and boundaries. The spaces are multidimensional and integrated with possibilities to stretch them through different direct and indirect strategies which women know how to manipulate and use. Zusammenfassung Der vorliegende Forschungsbericht basiert auf einer Feldforschung, die von November 2002 bis Ende 2003 in Al Gharaza, einem Dorf in Khartum State, durchgeführt wurde. Das Ziel der Untersuchung bestand darin zu untersuchen, wie Raum und Zeit miteinander verknüpft und wie sie geschlechtsspezifisch geprägt sind. Die begrenzenden Wirkungskräfte und die Faktoren, die sozialen Wandel einleiten, werden analysiert. Es wird diskutiert, wie die Räume der Frauen und ihre Grenzen definiert sind und wie neue Arrangements entstehen. Es wird herausgearbeitet, wie Zeit genutzt wird, welche Zeitkonzepte existieren und wie Arbeitsteilung geschlechtsspezifisch geprägt ist. Ergebnis der Untersuchung ist, dass Tradition und Exklusivität als zentraler Wert Frauen an das Dorf binden und die Verwendung ihrer Zeit bestimmen. Bildung ist ein wichtiger Faktor, Grenzen aufzubrechen und Frauen einen öffentlichen Raum im Dorf zu öffnen. Kräfte von außerhalb Â€Ó wie Entwicklung und Islamisierung Â€Ó bleiben fremd. Die Dorfbewohner selbst wollen sie vom Dorf fern halten. Daraus folgt ein Ausgeschlossensein von ökonomischer Entwicklung und politischer Integration. Die Betonung des Ausgeschlossenseins €ÞndererÂ€Ü und des Eingeschlossenseins innerhalb des Dorfes, die Teilung in €޷irÂ€Ü und €޳ieÂ€Ü führt dazu, dass die soziale Entwicklung des Dorfes, wie z.B. das Bauen von Schulen und die Unterstützung von Lehrern, Priorität haben. Die Verbindung von Entwicklung, Kultur und sozialen Strukturen des Dorfes wird dadurch wirksam. Kleine Bemühungen von außerhalb, €ޅntwicklungÂ€Ü in das Dorf zu bringen, waren nicht nachhaltig. Die Dorfbewohner unternehmen zwar Schritte, um Entwicklung in ihr Dorf zu bringen, leisten aber den Konsequenzen von Entwicklungsbemühungen, hinter denen sie nicht stehen, Widerstand. Immer wenn die Dorfbewohner davon ausgehen, dass Entwicklung ihnen ermöglicht, ihre Integrität und Exklusivität beizubehalten, ist diese willkommen. Andererseits wird Entwicklung Widerstand entgegengesetzt, wenn sie das bestehende System in Frage stellt. Zum Beispiel waren die Dorfbewohner nicht daran interessiert, Unterstützung für die Reparatur der Wasserpumpen im Bewässerungssystem zu bekommen, weil sie fürchteten, dass dies zu einer Umverteilung von Land führen könnte und Fremde in das Dorf kommen könnten. Die endogame Ehe wird weiter für beide Geschlechter bevorzugt. Frauen bleiben aufgrund der Vorstellungen von Ehre und Schutz auf das Dorf beschränkt. Alle diese Mechanismen dienen dazu, das Dorf vor dem Einfluss Fremder zu bewahren. Männer als die Schlüsselfiguren durch ihr Eigentum an Ressourcen und Einkommen definieren die Grenzen für beide Geschlechter und schreiben sich selbst Autorität und Entscheidungsmacht innerhalb und außerhalb des Haushaltes zu. Beide Geschlechter scheinen mit den sozialen Strukturen, durch die ihre Räume abgesteckt sind, zufrieden zu sein. Diese Räume haben viele Dimensionen und bieten Möglichkeiten der Erweiterung durch verschiedene direkte und indirekte Strategien, die die Frauen zu entwickeln und zu nutzen wissen. |
| Keywords: | Sudan, Women in rural areas, Space and time, Gender specific division of labour, Social change in rural areas, Frauen im ländlichen Raum, Raum und Zeit, Geschlechterspezifische Arbeitsteilung, Sozialer Wandel auf dem Lande, Agribusiness, Agricultural and Food Policy, Community/Rural/Urban Development, International Development, Labor and Human Capital, |
| Date: | 2008–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:ags:huiawp:43095&r=afr |
| By: | Thanh Le (MRG - School of Economics, The University of Queensland) |
| Abstract: | This paper empirically investigates the role of trade, remittances, and institutions in economic development in a large sample of developing countries using recently developed instruments for all these variables. Both cross country (over 30 years) and dynamic panel data (over 5-year periods) regressions of growth rates on instrumented trade, remittances, and institutions provide evidence of a significant impact of trade, institutions, and remittances on growth. While institutions foster growth, remittances hamper it. The effect of trade on growth is positive in cross sectional regressions but ambiguous in dynamic panel data regressions. These results are indicative of a more important role for trade in explaining growth in the very long run than over shorter horizons. |
| URL: | http://d.repec.org/n?u=RePEc:qld:uqmrg6:23&r=afr |
| By: | Annabel Vanroose (Centre Emile Bernheim, CERMi, Solvay Brussels School of Economics and Management, Université Libre de Bruxelles, Brussels and Section for Economic, Monetary and Financial Policy, Vrije Universiteit Brussel.) |
| Abstract: | This paper identifies factors that explain why microfinance institutions are reaching more clients in some countries than in others. To that end, the paper applies a cross-country analysis on a unique dataset covering 115 countries. Results indicate that the microfinance sector is more present in the richer countries of the developing world. It also reaches more clients in countries that receive more international support. Population density plays also a positive role, which could explain why the sector is still underdeveloped in rural areas. The level of industrialisation and inflation do not seem to influence microfinance outreach, while regional dummies do. |
| Keywords: | microfinance, financial sector development, aid, developing world |
| JEL: | G21 G28 O57 |
| Date: | 2008–10 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:08-036&r=afr |