|
on Africa |
| By: | Laurent Wagner (FERDI - Fondation pour les Etudes et Recherches sur le Développement International); Patrick Guillaumont (FERDI - Fondation pour les Etudes et Recherches sur le Développement International); Sylviane Guillaumont Jeanneney (FERDI - Fondation pour les Etudes et Recherches sur le Développement International) |
| Abstract: | If it becomes possible to mobilize significant external financing for Africa, it is necessary to consider simultaneously how these flows will be distributed among the various African countries. The issues facing the Summit are both Africa's relative financing needs and the respective needs of African countries. Not all of these countries have the same needs or the same capacity to use them effectively. |
| Abstract: | S'il devient possible de mobiliser des financements extérieurs importants à destination des pays africains, il faut simultanément s'interroger sur la façon dont ces flux seront répartis entre les différents pays. Les questions auxquelles le Sommet doit faire face sont à la fois celle des besoins de financement relatifs de l'Afrique et celle des besoins respectifs des différents pays africains. En effet, ces pays n'ont pas tous les mêmes besoins, ni la même capacité d'absorption |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03218024&r= |
| By: | Ofori, Isaac Kwesi; Obeng, Camara Kwasi; Mwinlaaru, Peter Yeltulme |
| Abstract: | Efforts to spur growth in sub-Sahara Africa have been intensified amid structural and institutional constraints. Tax revenue, the chief source of funding for developmental purposes in SSA remains low and unstable. In fact, the SSA sub-region finds it difficult generating tax revenue up to 20 per cent of GDP. One factor that has not caught the attention of policymakers in terms of its impact on tax revenue performance is exchange rate volatility. Using macrodata spanning 1984 to 2017 for 21 countries, we provide empirical evidence from a panel autoregressive distributed lag technique to show that exchange rate volatility is directly harmful to tax revenue performance, and indirectly through trade openness. |
| Keywords: | Cointegration, Exchange Rate Volatility, GARCH, Sub-Sahara Africa, Tax Revenue |
| JEL: | A1 E0 F1 F4 |
| Date: | 2021–05–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:107702&r= |
| By: | Demena, B.A.; Msami, J.; Mmari, D.E.; van Bergeijk, P.A.G. |
| Abstract: | Productivity development is a key issue for export-driven growth and development. We use East African Community (EAC) firm-level data. Instead of focusing on single EAC partners, using the World Bank Enterprise Surveys, investigate firm-level productivity difference for seven countries that are part of the COMESA-EAC-SADC tripartite free trade area (TFTA). Using export and ownership dimensions, we identify four types of firms: National Domestic, National Exporters, Foreign Domestic and Foreign Exporters. We find a clear export productivity premium for national manufacturing firms and service sectors, but not for foreign owned firms. We also find clear foreign-ownership productivity premium for both domestic and exporting firms in manufacturing sectors but less clear in services sectors. The gap between national export premium and foreign-ownership premium is stronger in manufacturing firms as opposed to service sectors. Moreover, we find clear and strong productivity premia in size, training programmes and level of development in the manufacturing firms. In the services sector, these premia are always smaller and only significant for medium-sized firms. There is no difference in experience premium between sectors in terms of both significance and magnitude of the estimated coefficients. |
| Keywords: | Productivity, exports, firm heterogeneity, FDI, sub-Saharan Africa, EAC. |
| JEL: | O12 J24 F23 D20 O55 |
| Date: | 2021–05–06 |
| URL: | http://d.repec.org/n?u=RePEc:ems:euriss:135504&r= |
| By: | Ahrens, Joachim; Kalkschmied, Katja |
| Abstract: | European development strategies with Africa have been challenged by a pragmatic, self-interested Sino-African trade and development cooperation with a focus on infrastructure projects, which gained momentum in the last twenty years. African-European development cooperation and European norms and standards as role models appear to have lost some of their appeal to African governments due to incoherencies, poor communication, and inadequate deliberations. Recent changes in European development strategies with Africa do not go far enough to solve these issues to stop a gradual shift in development cooperation away from Europe towards China. In this article we discuss and contrast Sino-African relations with African-European relations and investigate whether there exists competition between China and EU in Africa and what opportunities and threats this competition may hold for Africa. |
| Keywords: | Development cooperation,Sino-African relations,European-African relations,competitionover Africa |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:opodis:202110&r= |
| By: | Ofori, Isaac Kwesi; Armah, Mark Kojo |
| Abstract: | This paper revisits the exchange rate and interest rate differential relationship since Ghana adopted the inflation targeting regime. Using macro-data spanning 2002 to 2019 for Ghana and the United States, we show the nonexistence of the relationship in both the short-run and long-run. Further, we show a positive but slow responsiveness of exchange rate to interest rate differential shocks from the short-run to medium term. The long-run result however shows a case of a strong and significant response of exchange rate to interest rate differential shocks. We recommend that the Bank of Ghana address perennial macroeconomic instability, especially on inflation which we conjecture to fuel investment uncertainty and investment insensitivity to interest rate. |
| Keywords: | Inflation Targeting, Exchange Rate, Impulse Response Function, Interest Rate Differential, VAR, Ghana |
| JEL: | A1 E4 E43 E5 F3 F31 G21 |
| Date: | 2021–05–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:107586&r= |