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Foreign Aid, Resources and Export Diversification in Africa: A New Test of Existing Theories

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  • Osakwe, Patrick N.

Abstract

Recent theoretical literature suggests that aid, geography, and resource endowments affect diversification of exports in Africa. This paper examines the validity of these popular views using a System-GMM methodology and panel data for African countries. The evidence suggests that aid, the quality of infrastructure, and resource endowments are robust determinants of diversification in Africa. It also suggests that there is no systematic relationship between geography and diversification. Furthermore, there is some evidence that institutional factors are important although it is not robust. Finally, the paper offers recommendations on how to promote export diversification in the region.

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File URL: http://mpra.ub.uni-muenchen.de/2228/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 2228.

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Date of creation: Mar 2007
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Handle: RePEc:pra:mprapa:2228

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Keywords: Exports; Aid; Diversification; Africa; Endowments;

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  1. Andrei A. Levchenko, 2007. "Institutional Quality and International Trade," Review of Economic Studies, Oxford University Press, vol. 74(3), pages 791-819.
  2. Kiminori Matsuyama, 1990. "Agricultural Productivity, Comparative Advantage, and Economic Growth," Discussion Papers 934, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Imbs, Jean & Wacziarg, Romain, 2000. "Stages of Diversification," CEPR Discussion Papers 2642, C.E.P.R. Discussion Papers.
  4. Redding, Stephen J & Venables, Anthony J., 2003. "Geography and Export Performance: External Market Access and Internal Supply Capacity," CEPR Discussion Papers 3807, C.E.P.R. Discussion Papers.
  5. Turnovsky, Stephen J, 1974. "Technological and Price Uncertainty in a Ricardian Model of International Trade," Review of Economic Studies, Wiley Blackwell, vol. 41(2), pages 201-17, April.
  6. Chang, P. H. Kevin, 1991. "Export diversification and international debt under terms-of-trade uncertainty : An intertemporal approach," Journal of Development Economics, Elsevier, vol. 36(2), pages 259-277, October.
  7. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
  8. Ruffin, Roy J., 1974. "International trade under uncertainty," Journal of International Economics, Elsevier, vol. 4(3), pages 243-259, August.
  9. Redding, S., 1997. "Dynamic Comparative Advantage and the Welfare Effects of Trade," Economics Papers 140, Economics Group, Nuffield College, University of Oxford.
  10. Wood, Adrian & Mayer, Jorg, 2001. "Africa's Export Structure in a Comparative Perspective," Cambridge Journal of Economics, Oxford University Press, vol. 25(3), pages 369-94, May.
  11. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  12. repec:fth:stanho:e-92-3 is not listed on IDEAS
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Cited by:
  1. Naude, Wim & Rossouw, Riaan, 2008. "Export Diversification and Specialization in South Africa: Extent and Impact," Working Paper Series RP2008/93, World Institute for Development Economic Research (UNU-WIDER).
  2. Jonathan Munemo, 2011. "Foreign aid and export diversification in developing countries," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 20(3), pages 339-355.

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