Economic Development, Institutional Quality and Regional integration: Evidence from Africa Countries.

The aim of this paper is to provide new empirical evidence about the determinants of per capita income in African countries, with particular attention to the affects of governance institutional quality and sub regional integration on income level. We use a sample of 49 countries from the period 1996-2004 and the Generalized Method of Moments Estimation model for dynamic panel, proposed by Arellano and Bond (1991). The results show that African regional groups with better institutions, higher degrees of regional integration cooperation, higher rates of investment in human capital and lower rates of population growth, show a higher level of per capita incomeSub-Regional Integration, Institutional Quality, Economic development

FDI in the European Union and Mena Countries: Institutional and Economic Determinants

FDI flows to the Middle East and North Africa countries (MENA) have been relatively low when compared to the neighbouring European Union (EU) and to other developing and emerging countries. Furthermore, empirical research on FDI in these countries is relatively scarce. In this paper we use panel data regressions and consider a period of 9 years (since mid nineties) to investigate possible differences in the determinants of FDI performance in these regions. In particular, we use a panel of 42 countries which include 17 MENA countries and 25 European countries. Unlike previous studies, we consider the inward FDI performance index, as provided by UNCTAD, as dependent variable and include both institutional and macroeconomic variables as possible determinants of FDI. The aim is to investigate whether there are region-specific factors that are significant for FDI performance. We conclude that there are some significant differences on the institutional determinants of FDI performance, namely in what concerns Investment Freedom, Government Size and Trade Freedom.Foreign Direct Investment; Determinants; Institutions; Middle East North Africa countries (MENA); European Union (EU); Panel Data.

SHORT- AND MEDIUM-TERM DETERMINANTS OF CURRENT ACCOUNT BALANCES IN MIDDLE EAST AND NORTH AFRICA COUNTRIES

The main aim of the paper is to examine the short- and medium-term empirical link between current account balances and a broad set of (economic) variables proposed by theoretical and empirical literature. The paper focuses on the Middle East and North Africa (MENA), an economically diverse region, which has so far mainly been neglected in such empirical analyzes. For this purpose, a (dynamic) panel-regression technique is used to characterize the properties of current account variations across selected MENA economies in the 1971-2005 period. The results, which are generally consistent with theoretical and previous empirical analyses, indicate that higher (domestic and foreign) investment, government expenditure and foreign interest rates have a negative effect on the current account balance. On the other hand, a more open economy, higher oil prices and domestic economic growth generate an improvement in the external balance, whereas the latter implies that the domestic growth rate is associated with a larger increase in domestic savings than investment. Finally, the results show a relatively high persistency of current accounts and reject the validity of the stages of development hypothesis as poorer countries in the region reveal a higher current account surplus (or lower deficit).http://deepblue.lib.umich.edu/bitstream/2027.42/57242/1/wp862 .pd

Biodiversity and sustainable use of fish in the coastal zone: proceedings of an international workshop

A compilation of paper presented in the workshop entitled Biodiversity and Sustainable Use of Fish in the Coastal Zone. The workshop was convened in May 1999 at WRI, to give the project team, invited expert and participants from Ghana and other sub-Saharan Africa countries an opportunity to discuss common interest in tilapia biodiversity and genetic resources conservation and sustainable use, and to consider further research and training needs.Population genetics, Conservation, Sustainability, Fish culture, Fisheries, Africa,

The Validity of Purchasing Power Parity Hypothesis in Middle East and Northern Africa Countries

This paper re-examines the Purchasing Power Parity (PPP) hypothesis in which the endogenously determined break points are incorporated in thirteen major Middle East and Northern Africa (MENA) countries by using official and black market exchange rates data over 1970-1998. We utilize Lagrange Multiplier (LM) unit root test that endogenously determines structural breaks in level and trend. We find evidence of PPP for all countries using official and/or black market real exchange rates at the 10% level or better.Purchasing Power Parity (PPP), Real exchange rate, Black market, Exchange rates, Unit-root test, Structural break

Savings And Its Determinants In West Africa Countries

This study and investigated the determinants of domestic savings in West Africa during 1980-2006. The theoretical foundation for this study is anchored on Hall hypothesis of consumption. The Hall hypothesis states that consumption is a function of lifetime ("permanent") income, rather than income in each period independently. The model assumes that capital markets are perfect and the interest rate varies over time across countries and consumers have rational expectations regarding the income- generating process. Thus, the empirical results are as follows: The size of effect of the dependency ratio, and interest rate on domestic savings is found out negative and insignificant, growth of GDP though positive but statistically insignificant, only the government budget surplus and inflation rate are found to be statistically significant. The development of West Africa financial market has a positive effect on savings, and finally, the real interest rate, and terms of trade have insignificant impact on the level of saving in West Africa. Keywords: Gross Domestic savings, Hall Hypothesis, West Africa, Panel data

Short- and medium-term determinants of current account balances in Middle East and North Africa countries

The main aim of the paper is to examine the short- and medium-term empirical link between current account balances and a broad set of (economic) variables proposed by theoretical and empirical literature. The paper focuses on the Middle East and North Africa (MENA), an economically diverse region, which has so far mainly been neglected in such empirical analyzes. For this purpose, a (dynamic) panel-regression technique is used to characterize the properties of current account variations across selected MENA economies in the 1971-2005 period. The results, which are generally consistent with theoretical and previous empirical analyses, indicate that higher (domestic and foreign) investment, government expenditure and foreign interest rates have a negative effect on the current account balance. On the other hand, a more open economy, higher oil prices and domestic economic growth generate an improvement in the external balance, whereas the latter implies that the domestic growth rate is associated with a larger increase in domestic savings than investment. Finally, the results show a relatively high persistency of current accounts and reject the validity of the stages of development hypothesis as poorer countries in the region reveal a higher current account surplus (or lower deficit).MENA countries; current account; determinants; dynamic panel data

Africa's Wealthy Give Back: A Perspective on Philanthropic Giving by Wealthy Africans in sub-Saharan Africa, with a focus on Kenya, Nigeria, and South Africa

Over the last few years we have begun to see the emergence of more strategic philanthropy, the growth of formal vehicles for its practice, and the rise of new platforms that reflect African voices. There is also a growing interest to better understand African philanthropy and learn from the experience of African philanthropists so as to achieve greater impact. This research forms part of that effort by providing a pan-African view of a specific group of philanthropists from Africa. It focuses on Kenya, Nigeria, and South Africa, countries that are in the spotlight due to their respective positions within their regions, their economic status and their levels of giving by the wealthy. However, individuals from countries such as Uganda, Ghana and the Democratic Republic of the Congo as well as from the African Diaspora also participated in the stud

The law of growth and attraction: an endogenous model of absorptive capacities, FDI and income for MENA countries

In this paper, we build a structural model of growth and we estimate it on panel data. We go further than the previous studies of Bende et al. (2000, 2003) or Li & Liu (2005), because we not only control for the endogenity of FDI towards growth, but we also control for the endogenity of FDI towards the other variables (trade openness, domestic investment, human development) that are likely to increase the effects of foreign investments on growth through the absorption capacities building. We show that this model brings in new and interesting results about the interactions between attraction, FDI and growth in MENA countries (Middle East and North Africa countries).FDI, Human capital, Growth, simultaneous equations, MENA

The law of growth and attraction: an endogenous model of absorptive capacities, FDI and income for MENA countries

In this paper, we build a structural model of growth and we estimate it on panel data. We go further than the previous studies of Bende et al. (2000, 2003) or Li & Liu (2005), because we not only control for the endogenity of FDI towards growth, but we also control for the endogenity of FDI towards the other variables (trade openness, domestic investment, human development) that are likely to increase the effects of foreign investments on growth through the absorption capacities building. We show that this model brings in new and interesting results about the interactions between attraction, FDI and growth in MENA countries (Middle East and North Africa countries).FDI, Human capital, Growth, simultaneous equations, MENA