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The external sector of Africa's economy
- Available as
- Online
- Summary
-
The book examines various aspects of Africa's external economy by focusing on regional monetary arrangements and how they are affected by devaluation episodes. It investigates the relationship betw...
The book examines various aspects of Africa's external economy by focusing on regional monetary arrangements and how they are affected by devaluation episodes. It investigates the relationship between current account balances, trade balances and trade openness with respect to regional integration and regional growth patterns, discusses obstacles to a successful regional integration and paths to structural transformation, and studies the impact of economic partnership on inclusive development. The book addresses researchers and policymakers interested in development economies and African economic development.
Details
- Creator
- Diery Seck, editor
- Format
- Books
- Language
- English
- Contributors
- Publication
-
- Cham : Springer, 2019
- Physical Details
-
- 1 online resource
- text file PDF
- ISBNs
- 9783319979137, 3319979132, 9783319979144, 3319979140, 3319979124, 9783319979120, 3319979124, 9783319979120
- OCLC
- on1096295516
- Includes bibliographical references and index.
- Intro; Introduction; Contents; Part I: Introduction Regional Integration; The Economic Value of Regional Integration in Africa; 1 Introduction; 2 The Theoretical Model; 3 Case of African Country: Small Economy and Fixed Prices; 4 The Empirical Evidence; 5 Existence and Size of the Economic Gain; 6 Speed of the Economic Gain from Regional Integration; 7 Conclusion; References; Current Account Im(balances) and Adjustments to Targets for Regional Integration in West Africa: One Step Forward, Two Steps B ... ; 1 Introduction; 2 Stylized Facts and Unconditional Relationships
- 3 What Drives Current Account Balances?3.1 Industrialized Versus Developing Economies; 4 Empirical Strategy; 4.1 Data Sources; 5 Results; 5.1 Panel Data Properties and Diagnostics; 5.2 Equilibrium Cointegrating Relationships; 5.3 Equilibrium Relationships and Estimated Adjustment Paths; 6 Conclusion; References; Obstacles to Strengthening Economic Integration in the West African Economic and Monetary Union; 1 Introduction; 2 Literature Review; 3 Methodology; 3.1 Econometric Specifications and Estimation Issues; 3.2 Data; 3.2.1 Infrastructure Variables; 3.2.2 Political Stability Variable
- 3.2.3 Economic Policy Variable4 Results; 4.1 Descriptive Statistics; 4.2 Unit Root Tests; 4.3 Hausman and Specification Tests; 4.4 Estimations Results and Discussions; 5 Conclusion; Annex 1: Estimations by Country Part 1 (Benin, Burkina Faso, Côte dÍvoire et Guinea Bissau); Annex 2: Estimations by Country Part 2 (Mali, Niger, Sénégal et Togo); Annex 3: Percentage of Road Paved in Each Country from 1996 to 2013; References; Part II: External Trade; Growing External Trade, Development and Structural Heterogeneity in West Africa: Examining the Evidence; 1 Introduction
- 2 Trade and Development Literature3 The ECOWAS Economies: Some Stylized Facts; 4 West African Integration into the Global Value Chains; 5 Model Specification and Empirical Estimates of the Gravity Model; 6 Summary and Conclusion; References; Driving Factors of Intra-regional Trade in Agricultural Goods: The Case of West African Economic and Monetary Union; 1 Introduction; 2 Overview of Trade Liberalization Since the 1990s in the WAEMU and Observed Intra WAEMU Trade; 3 Theoretical and Empirical Foundations of the Gravity Model in the Analysis of Trade in Regional Integration Area
- 4 Presentation of the Model and the Variables4.1 The Gravity Model; 4.2 The Variables; 4.3 Hypothesis and Expected Signs of the Coefficients; 4.3.1 Gross Domestic Product; 4.3.2 Distance; 4.3.3 Population; 4.3.4 Foreign Direct Investment; 4.3.5 Level of Integration; 4.3.6 Political Stability and Absence of Terrorism; 5 Data Sources and Sampling; 6 Model Specification (Fixed-Effects, Random-Effects or Mixed Effects Model) and Results; 7 Economic Analysis of the Results; 8 Concluding Remarks and Policy Recommendations; Annex; Econometric Tests; Test of Fixed-Effect; Test of Random-Effects