Impact of economic sectors on inflation rate: Evidence from Ethiopia

References

• Afzal, M., Malik, M. E., Butt, A. R., & Fatima, K. (2013). Openness, inflation and growth relationships in Pakistan an application of ARDL bounds testing approach. Pakistan Economic and Social Review, 51(1), 13–24.
   Google Scholar
• Alemu, M., Mulugeta, W., & Wassie, Y. (2016). Monetary policy and inflation dynamics in Ethiopia: An empirical analysis. Global Journal of Human-Social Science: E Economics, 16(4 45–60).
   Google Scholar
• Alemu, Z. G., Oosthuizen, K., & Schalkwyk, H. D. 2003. Contribution of agriculture in the Ethiopian economy: A time-varying parameter. Approach. Agrekon. 42 1 29–48 doi:10.22004/ag.econ.246011. 1.
   Google Scholar
• Argy, V. (1970). Structural inflation in developing countries. Oxford Economic Papers, 22(1), 73–85. https://doi.org/10.1093/oxfordjournals.oep.a041153
   Web of Science ®Google Scholar
• Arltová, M., & Fedorová, D. (2016). Selection of unit root test on the basis of time series length and value of ar(1) parameter. Statistika: Statistics and Economy Journal, 96(3), 47–64 http://www.czso.cz/statistika_journal .
   Web of Science ®Google Scholar
• Ayyoub, M. (2015). Inflation and sectoral growth in developing economies. In PhD Dissertation, Innsbruck. University of Innsbruck 29 .
   Google Scholar
• Bane, J. (2018). Dynamics and determinants of inflation in Ethiopia. perspectives on development. the Middle East and North Africa (MENA) Region, 67–84 doi:10.1007/978-981-10-8126-2_4.
   Google Scholar
• Bekhet, H. A., & Al-Smadi, R. W. (2015). Determinants of Jordanian foreign direct investment inflows: Bounds testing approach. Economic Modeling, 46 C , 27–35. https://doi.org/10.1016/j.econmod.2014.12.027
   Google Scholar
• Birhanu, B., Mulugeta, W., & Yaekob, T. (2016). Relationship between government revenue growth and economic growth in Ethiopia. International Journal of Research in Computer Application and Management, 6(8 47–55 https://www.researchgate.net/publication/315045775_RELATIONSHIP_BETWEEN_GOVERNMENT_REVENUE_GROWTH_AND_ECONOMIC_GROWTH_IN_ETHIOPIA).
   Google Scholar
• Block, S. A. (1999). Agriculture and economic growth in Ethiopia: Growth multipliers from a four- sector simulation model. Agricultural Economics, 20, 241–252 file:///C:/Users/user/Downloads/agec1999v020i003a005.pdf.
   Web of Science ®Google Scholar
• Bogue, D. J. (1982). Review of population and technological change: A study of long-term trends. By E. Boserup. American Journal of Sociology, 88(2), 461–463. https://doi.org/10.1086/227695
   Web of Science ®Google Scholar
• Brown, R. L., Durbin, J., & Evans, J. M. (1975). Techniques for testing the constancy of regression relationships over time. Journal of the Royal Statistical Society, Series B (Methodological), 37(2), 149–192 https://rss.onlinelibrary.wiley.com/doi/10.1111/j.2517-6161.1975.tb01532.x.
   Web of Science ®Google Scholar
• Busse, M., & Hefeker, C. (2007). Political risk, institutions and foreign direct investment. European Journal of Political Economy, 23(2), 397–415. https://doi.org/10.1016/j.ejpoleco.2006.02.003
   Google Scholar
• Canavese, A. J. (1982). The structuralism explanation in the theory of inflation. World Development, 10(7), 523–529 https://doi.org/10.1016/0305-750X(82)90053-5.
   Web of Science ®Google Scholar
• Chaudhry, I. S., Ayyoub, M., & Imran, F. (2013). Does inflation matter for sectoral growth in Pakistan? An empirical analysis. Pakistan Economic and Social Review, 51(1 71–92 https://www.semanticscholar.org/paper/DOES-INFLATION-MATTER-FOR-SECTORAL-GROWTH-IN-An-Chaudhry-Ayyoub/56cb732e504be176eb2fe720116d9d982fe48f27).
   Google Scholar
• Chewaka, J. E. (2014). Comment: Legal aspects of stock market development in Ethiopia: Comments on challenges and prospects. Mizan Law Review, 8(2), 439–454. https://doi.org/10.4314/mlr.v8i2.7
   Google Scholar
• Clark, C. (1940). The conditions of economic progress. Macmillan. https://archive.org/details/in.ernet.dli.2015.223779
   Google Scholar
• CSA (2022). Country and regional level consumer price Indices’, Monthly report on consumer price index, various months.
   Google Scholar
• Degu, A. A. (2019). The causal linkage between agriculture, industry and service sectors in Ethiopian economy. American Journal of Theoretical and Applied Business, 5(3), 59–76. https://doi.org/10.11648/j.ajtab.20190503.13
   Google Scholar
• Denbel, F. S., Ayen, Y. W., & Regasa, T. A. (2016). The relationship between inflation, money supply and economic growth in Ethiopia: Co-integration and causality analysis. International Journal of Scientific and Research Publications, 6(1 556–565 https://www.ijsrp.org/research-paper-0116/ijsrp-p4987.pdf).
   Google Scholar
• Dickey, D. A., & Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74 366a , 427–431. https://doi.org/10.1080/01621459.1979.10482531
   Google Scholar
• Durguti, E., Tmava, Q., Demiri-Kunoviku, F., Krasniqi, E. . (2021). Panel estimating effects of macroeconomic determinants on inflation: Evidence of Western Balkan. Cogent Economics & Finance, 9(1 1–13). https://doi.org/10.1080/23322039.2021.1942601
   Web of Science ®Google Scholar
• Emeru, G. M. (2020). The determinants of inflation in Ethiopia: A multivariate time series analysis. Journal of Economics and Sustainable Development, 11(21 53–62 https://pdfs.semanticscholar.org/2056/9dc1d27fffbf86e85c91b3f0849615d7c32c.pdf?_ga=2.217315990.1675148764.1663096923-1930156572.1624445562).
   Google Scholar
• Faridi, M. Z. (2012). Contribution of agricultural exports to economic growth in Pakistan. Pakistan Journal of Commerce and Social Sciences, 6(1), 133–146 https://www.econstor.eu/bitstream/10419/188047/1/pjcss079.pdf.
   Google Scholar
• Fatimah, M. A., & Anwarul, H. (2010). Supply response of potato in Bangladesh: A vector error correction approach. Journal of Applied Sciences, 10(11 895–902 http://scialert.net/abstract/?doi=jas.2010.895.902).
   Google Scholar
• Fisher, I. (1911). The equation of exchange, 1896-1910. American Economic Review.
   Google Scholar
• Fisher, G. B. A. (1935). The clash of progress and security. Macmillan.
   Google Scholar
• Friedman, M., & Schwartz, A. J. (1963). A monetary history of the United States, 1867- 1960. Princeton. The Princeton University Press.
   Google Scholar
• Getachew, Abis, & Meaza, Cherkos. (2018). Do prices influence economic growth? Estimating the inflation threshold of the Ethiopian economy. Journal of Economics and Sustainable Development, 9(1 46–56).
   Google Scholar
• Granger, C. W. (1969). Investigating causal relations by econometric models and cross-spectral methods. Econometrica, 37(3), 424–438. https://doi.org/10.2307/1912791
   Web of Science ®Google Scholar
• Gujarati, D. N. (2004). Basic econometric (4th ed.). the McGraw-Hill Companies. NewYork.
   Google Scholar
• Harris, H., & Sollis, R. (2003). Applied time series modelling and forecasting. Wiley, West Sussex.
   Google Scholar
• Hume, D. (1752). Political discourses (Kessinger Publishing).
   Google Scholar
• Humphrey, T. M. (1998). Historical origins of the cost-push fallacy. Economic Quarterly, 84 3 , 53–74 https://www.richmondfed.org/-/media/RichmondFedOrg/publications/research/economic_quarterly/1998/summer/pdf/humphrey.pdf.
   Google Scholar
• Humuda, A.M, Sulikova, V., Gazda, V., & Horvath, D. (2013). ARDL investment model of Tunisia. Theoretical and Applied Economics, XX 2 , 57–68.
   Google Scholar
• Hussin, F., & Yik, S. Y. (2012). The contribution of economic sectors to economic growth: The cases of China and India. Research in Applied Economics, 4(4 38–53). https://doi.org/10.5296/rae.v4i4.2879
   Google Scholar
• Jaffri, A. A., Farooq, F., & Munir, F. (2016). Impact of demographic changes on inflation in Pakistan. Pakistan Economic and Social Review, 54(1), 1–14. https://www.jstor.org/stable/26616694
   Google Scholar
• Kahssay, T. (2017). Determinants of inflation in Ethiopia: A time-series analysis. Journal of Economics and Sustainable Development, 8(19 1–6 https://www.iiste.org/Journals/index.php/JEDS/article/view/39294/40403).
   Google Scholar
• Kaur, S. (2013). Inflation impact on Indian economy and agriculture. International Journal of Scientific & Engineering Research, 4(7 1459–1462).
   Google Scholar
• Kaur, R., & Aggarwal, P. K. (2019). The contribution of the service sector to economic growth in India. IOSR Journal of Economics and Finance, 10(3), 01–09 https://iosrjournals.org/iosr-jef/papers/Vol10-Issue3/Series-5/A1003050109.pdf.
   Google Scholar
• Keynes, J. M. (1936). The general theory of employment, interest, and money. Macmillan Publication.
   Google Scholar
• Khan, R. E. A., & Hye, Q. M. A. (2010). Financial sector reforms and household savings in Pakistan: An ARDL approach. African Journal of Business Management, 4(16), 3447–3456.
   Google Scholar
• Khan, A. H., & Qasim, M. A. Inflation in Pakistan revisited. (1996). Pakistan Development Review, 35(4), 747–759. Part II:. https://doi.org/10.30541/v35i4IIpp.747-759
   Google Scholar
• Lewis, A. W. (1954). Economic development with unlimited supply of labor. the manchester school. In A. N. Agrawal & S. P. Singh (Eds.), The economics of under- development (Reprinted in (John Wiley & Sons, Inc) ed.) (pp. 400–449).
   Google Scholar
• Liew, V. K. (2004). Which lag length selection criteria should we employ? Economics Bulletin, 3 33 , 1–9.
   Google Scholar
• Lim, Y. C., & Sek Siok, K. (2015). An examination on the determinants of inflation. Journal of Economics, Business and Management, 3(7), 678–682. https://doi.org/10.7763/JOEBM.2015.V3.265
   Google Scholar
• Lindh, T., & Malmberg, B. (2000). Can age structure forecast inflation trends? Journal of Economics and Business, 52(1–2), 31–49. https://doi.org/10.1016/S0148-6195(99)00026-0
   Google Scholar
• Loening, L. J., Durevall, D., & Birru, Y. A. (2009). Inflation dynamics and food prices in an agricultural economy: The case of Ethiopia. Working Paper 347. Gothenburg: University of Gothenburg.
   Google Scholar
• Loto, M. A. (2012). Global economic downturn and the manufacturing sector performance in the Nigerian economy (A quarterly empirical analysis). Journal of Emerging Trends in Economics and Management Sciences, 3(1), 38–45.
   Google Scholar
• Lucas, R. E. (1972). Expectations and the neutrality of money. Journal of Economic Theory, 4(2), 103–124. https://doi.org/10.1016/0022-0531(72)90142-1
   Web of Science ®Google Scholar
• Malthus, T. R. (1798). An essay on the principle of population. J. Johnson.
   Google Scholar
• McCallum, B. T. (1980). Rational expectations and macroeconomic stabilization policy: An overview. Journal of Money, Credit, and Banking, 12(4), 716–746. https://doi.org/10.2307/1992031
   Web of Science ®Google Scholar
• Mekonen, E. K. (2020). Agriculture sector growth and inflation in Ethiopia: Evidence from autoregressive distributed lag model. Open Journal of Business and Management, 8(6), 2355–2370. https://doi.org/10.4236/ojbm.2020.86145
   Google Scholar
• Melaku, M. (2020). Determinants of inflation in Ethiopia. Academic Journal of Research and Scientific Publishing, 2(18 68–88).
   Google Scholar
• Mkhatshwa, Z. S., Tijani, A. A., & Masuk, M. B. (2015). Analysis of the relationship between inflation, economic growth and agricultural growth in Swaziland from 1980-2013. Journal of Economics and Sustainable Development, 6 18 , 189–204.
   Google Scholar
• Munir, S., Kiani, A. K., Khan, A., & Jamal, A. (2013). The relationship between trade openness and income inequalities empirical evidences from Pakistan (1972-2008). Academic Journal of Management Sciences, 2(1), 21–35.
   Google Scholar
• Nawaz, M., Naeem, M., Ullah, S., & Khan, S. U. (2017). Correlation and causality between inflation and selected macroeconomic variables: Empirical evidence from Pakistan (1990-2012). iBusiness, 9(4), 149–166. https://doi.org/10.4236/ib.2017.94011
   Google Scholar
• NBE. (2015). National Bank of Ethiopia annual report on Ethiopian economy: Addis Ababa.
   Google Scholar
• NBE. (2017). National Bank of Ethiopia annual report on Ethiopian economy: Addis Ababa.
   Google Scholar
• NBE. (2019). National Bank of Ethiopia annual report on Ethiopian economy: Addis Ababa.
   Google Scholar
• Ndour, C. T. (2017). Effects of human capital on agricultural productivity in Senegal. World Scientific News, 64, 34–43.
   Google Scholar
• Ng, S., & Perron, P. (2001). LAG length selection and the construction of unit root tests with good size and power. Econometrica, 69(6), 1519–1554. https://doi.org/10.1111/14680262.00256
   Web of Science ®Google Scholar
• NPC. (2016) . Growth and transformation Plan-II of Ethiopia. volume I main text. Addis Ababa.
   Google Scholar
• Okun, A. M. (1962). Potential GNP & its measurement and significance, American statistical association. Proceedings of the business and economics statistics section, pp. 98–104.
   Google Scholar
• Olaniyi, O. Z., Mathew, A., Ogunleye, A. A., & Oladokun, Y. O. M. (2015). An empirical analysis of the contribution of agricultural sector to Nigerian gross domestic product: Implications for economic development. Developing Country Studies, 5(21).
   Google Scholar
• Olivera, J. H. (1964). On structural inflation and Latin-American’ structuralism. Oxford economic papers 16 3 , pp. 321–332 https://doi.org/10.1093/oxfordjournals.oep.a040958.
   Google Scholar
• Omoniyi, L. G., & Olawale, A. N. (2015). An application of ARDL ounds testing procedure to the estimation of level relationship between exchange rate,crude oil price and inflation rate in Nigeria. International Journal of Statistics and Applications, 5, 81–90.
   Google Scholar
• Oyakhilomen, O., & Rekwot, Z. G. (2014). The relationships of inflationary trend, agricultural productivity and economic growth in Nigeria. CBN Journal of Applied Statistics, 5 1 35–47 .
   Google Scholar
• Pesaran, M. H., Shin, Y., & Richard, J. S. (2001). Bounds testing Approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
   Web of Science ®Google Scholar
• Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled mean group estimation of dynamic heterogeneous panels. J. Am. Stat. Assoc, 94(446), 621–634. https://doi.org/10.1080/01621459.1999.10474156
   Web of Science ®Google Scholar
• Petersen, W. (1959). Population growth and economic development in low-income countries: A case study of India’s prospects. In B. A. J. Coale & G. M. Hoover. eds., The Journal of Asian Studies. Princeton University Press. xxi, 389. $8.50. Vol. 18. 524–525. https://doi.org/10.2307/2941169.
   Google Scholar
• Phillips, A. W. (1958). The relation between unemployment and the rate of change of money wage rates in the United Kingdom, 1861-1957. Economica, 25(100), 283–299. https://doi.org/10.1111/j.1468-0335.1958.tb00003.x
   Web of Science ®Google Scholar
• Rostow, W. W. (1960). The stages of economic growth: A non-communist manifesto. Cambridge University Press.
   Google Scholar
• Sargent, T. J., & Hansen, L. P. (1980). Formulation and estimating dynamic linear rational expectations models. Journal of Economic Dynamics & Control, 2(11), 7–46. https://doi.org/10.1016/0165-1889(80)90049-4
   Google Scholar
• Seleteng, M. (2013).Inflation and economic growth nexus in the Southern African Development Community: a panel data investigation (Doctoral dissertation, University of Pretoria).
   Google Scholar
• Sirah, E. S. (2020). Short run impact of public finance on inflation rate in Ethiopia; empirical evidence with time series analysis (1974/75-2018/19). Journal of Economics and Sustainable Development, 11(9 42–45).
   Google Scholar
• Sirah, E. S., Wtensay, W. A., & Shah, S. A. (2021). Impact of Africa growth and opportunity act and merchandise exports on the Ethiopian economy over the long term. Innovations 67 , (02 142–158).
   Google Scholar
• Sisay, E., Wassie, Y., & Alemu, M. (2020). Unemployment and the macroeconomics of Ethiopia. International Journal of Commerce and Finance, 6(2), 40–49.
   Google Scholar
• Tafere, K. (2008). The sources of the recent inflationary experience in Ethiopia. An MSc Thesis, Addis Ababa University.
   Google Scholar
• Ukpolo, V. (2002). Population growth and economic growth in Africa. Contributions to Asian Studies, 18(4), 315–329. https://doi.org/10.1177/0169796x0201800402
   Google Scholar
• Xinshen, D., & Steven, H. B. F. (2007). Agricultural growth linkages in Ethiopia: Estimates using fixed and flexible price models. Washington: International Food Policy.
   Google Scholar
• Yamaguchi, K. (2013). Money and macroeconomic dynamics (First ed.). Osaka Office Publications.
   Google Scholar
• Yismaw, T. G. (2019). Effect of inflation on economic growth of Ethiopia. Journal of Investment and Management, 8(2), 48–52. https://doi.org/10.11648/j.jim.20190802.13
   Google Scholar
• Zulfiqar, Z. (2015). Inflation, interest rate and firms’ performance: The evidences from textile industry of Pakistan. International Journal of Arts and Commerce, 4(2 111–115).
   Google Scholar