750
Views
6
CrossRef citations to date
0
Altmetric
Research Article

Macroeconomic determinants of economic growth in Africa

&
Pages 839-857 | Received 06 May 2020, Accepted 30 May 2020, Published online: 16 Jul 2020

References

  • African Development Bank Group. 2019. African Economic Outlook. https://www.afdb.org/en/documents/african-economic-outlook-aeo-2019-english-version
  • Anyanwu, J. 2014. “Factors Affecting Economic Growth in Africa: Are There Any Lessons from China?” African Development Review 26 (3): 484–493. doi:10.1111/1467-8268.12105.
  • Arrow, K. 1962. “The Economic Implications of Learning by Doing.” The Review of Economic Studies 29 (3): 155–173. doi:10.2307/2295952.
  • Campaign, J. D. 2018. Africa’s Growing Debt Crisis: Who Is the Debt Owed To? https://jubileedebt.org.uk/wp/wp-content/uploads/2018/09/Briefing_09.18.pdf
  • Chang, C., and M. Mendy. 2012. “Economic Growth and Openness in Africa: What Is the Empirical Relationship?” Applied Economics Letters 19 (18): 1903–1907. doi:10.1080/13504851.2012.676728.
  • Chirwa, T. G., and N. Odhiambo. 2016. “Macroeconomic Determinants of Economic Growth: A Review of International Literature.” South East European Journal of Economics and Business 11 (2): 33–47. doi:10.1515/jeb-2016-0009.
  • Christensen, B., and J. Schanz. 2018. “Central Banks and Debt: Emerging Risks to the Effectiveness of Monetary Policy in Africa?” Papers, No. 99. Basel, Switzerland: Bank for International Settlements.
  • Devarajan, S., I. Gill, and K. Karakulah. 2019. “Africa's Debt: Three Concerns, Three Remedies.” Duke Global Working Paper Series No. 2019/09. http://dx.doi.org/10.2139/ssrn.3422880.
  • Diao, X., and M. McMillan. 2018. “Toward an Understanding of Economic Growth in Africa: A Reinterpretation of the Lewis Model.” World Development 109: 511–522. doi:10.1016/j.worlddev.2016.12.008.
  • Domar, E. 1946. “Capital Expansion, Rate of Growth, and Employment.” Econometrica 14 (2): 137–147. doi:10.2307/1905364.
  • Dumitrescu, E., and C. Hurlin. 2012. “Testing for Granger Non-causality in Heterogenous Panels.” Economic Modelling 29 (4): 1450–1460. doi:10.1016/j.econmod.2012.02.014.
  • Feder, G. 1983. “On Export and Economic Growth.” Journal of Development Economics 12 (1): 59–73. doi:10.1016/0304-3878(83)90031-7.
  • Freund, C., and N. Rocha. 2010. “What Constrains Africa's Exports?” Working Paper ERSD-2010-07. Geneva, Switzerland.
  • Fruman, C. 2017. Economic Diversification: A Priority for Action, Now More than Ever. https://blogs.worldbank.org/psd/economic-diversification-priority-action-now-more-ever
  • Granger, C. 1969. “Investigating Causal Relations by Econometric Models and Cross-spectral Methods.” Econometrica 37 (3): 424–438. doi:10.2307/1912791.
  • Harrod, R. 1939. “An Essay in Dynamic Theory.” The Economic Journal 49 (193): 14–33. doi:10.2307/2225181.
  • Hausman, J. 1978. “Specification Tests in Econometrics.” Econometrica 46 (6): 1251–1271. doi:10.2307/1913827.
  • Hossain, S., and R. Mitra. 2013. “The Determinants of Economic Growth in Africa: A Dynamic Causality and Panel Cointegration Analysis.” Economic Analysis and Policy 43 (2): 217–226. doi:10.1016/S0313-5926(13)50019-1.
  • ILO. 2019. World Employment Social Outlook: Trends 2019. Geneva: International Labour Office.
  • Keynes, J. 1936. The General Theory of Employment, Interest and Money. London: Macmillan.
  • Lipton, M. 2012. Income from Work: The Food-Population-Resource Crisis in the ‘Short Africa’. 3 April. Sussex University: Leontief Prize Lecture, Tufts University, Medford, MA.
  • Lucas, R. 1988. “On the Mechanisms of Economic Development.” Journal of Monetary Economics 22 (1): 3–42. doi:10.1016/0304-3932(88)90168-7.
  • Malthus T. 1925. Prawo ludności, tlum. Warszawa: K. Stein, Gebethner i Wolff.
  • Marx, K. 1872. Le Capital. Paris: Maurice Lachatre.
  • Morrissey, O., and A. Mold. 2006. Explaining Africa’s Export Performance – Taking a New Look. 9th Annual Conference on Global Economic Analysis, 1–28. Addis Ababa: Global Trade Analysis Project (GTAP). http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.482.8532&rep=rep1&type=pdf
  • Most, S., and H. Vann De Berg. 1996. “Growth in Africa: Does the Source of Investment Financing Matter?” Applied Economics 28 (11): 1427–1433. doi:10.1080/000368496327697.
  • Oyebowale, A. Y., and N. K. Karley. 2018. “Investigating Finance-Growth Nexus: Further Evidence from Nigeria.” International Journal of Economics and Finance 10 (9): 121–135. doi:10.5539/ijef.v10n9p121.
  • Pesaran, M., Y. Shin, and R. Smith. 1997. Pooled Estimation of Long-run Relationships in Dynamic Heterogeneous Panels. Cambridge: University of Cambridge.
  • Pesaran, M., Y. Shin, and R. Smith. 1999. “Pooled Mean Group Estimation of Dynamic Heterogeneous Panels.” Journal of the American Statistical Association 94 (446): 621–634. doi:10.1080/01621459.1999.10474156.
  • Ricardo, D. 1817. On the Principles of Political Economy and Taxation. London: John Murray.
  • Rodrick, D. 2016. “An African Growth Miracle.” Journal of African Economies 27 (1): 10–27.
  • Romer, P. 1986. “Increasing Returns and Long-Run Growth.” Journal of Political Economy 94 (5): 1002–1037. doi:10.1086/261420.
  • Schumpeter, J. 1911. The Theory of Economic Development. Cambridge, MA: Harvard University Press.
  • Schumpeter, J. 1926. Theorie der wirtschaftlichen Entwicklung: Eine Untersuchung uber Unternehmergewinn, Kapital, Kredit, Zins und den Konjunkturzyklus. 2nd revd ed. Munchen and Leipzig: Duncker & Humblot Verlag. ed.
  • Schumpeter, J. 1934. Theory of Economic Development. Cambridge, MA: Harvard University Press.
  • Smith, A. 1776. An Inquiry into the Nature and Causes of the Wealth of Nations. London: W. Strahan and T. Cadell.
  • Solow, R. 1956. “A Contribution to the Theory of Economic Growth.” The Quarterly Journal of Economics 70 (1): 65–94. doi:10.2307/1884513.
  • Swan, T. 1956. “Economic Growth and Capital Accumulation.” Economic Record 32 (2): 334–361. doi:10.1111/j.1475-4932.1956.tb00434.x.
  • Ubi-Abai, I., and D. Ekere 2018. Fiscal Policy, Monetary Policy and Economic Growth in Sub-Saharan Africa. https://mpra.ub.uni-muenchen.de/91950/1/MPRA_paper_91950.pdf
  • Verter, N. 2017. “International Trade: The Position of Africa in Global Merchandise Trade.” Emerging Issues in Economics and Development, 65–89.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.