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A Virtual Dynamic Applied General Equilibrium Model Of Africa: Specifications And Simulations

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  • GODWIN CHUKWUDUM NWAOBI

Abstract

AFRICAN ECONOMIC PERFORMANCE HAS BEEN MARKEDLY WORSE THAN THAT OF OTHER REGIONS. THUS, THE GOVERNMENTS OF AFRICAN COUNTRIES HAVE ASSUMED MAJOR RESPONSIBILITIES FOR ECONOMIC REFORMS AND GROWTH. ALONG WITH THESE RESPONSIBILITIES HAS COME AN INCREASED AWARENESS OF THE INTERRELATEDNESS OF DIFFERENT SECTORS OF A NATIONAL ECONOMY AND THAT OF THE NEED FOR COORDINATION OF POLICIES THAT HAD PREVIOUSLY BEEN DEBATED IN TERMS OF THEIR DIRECT IMPACTS ON INDIVIDUAL SECTORS. THEREFORE THIS RESEARCH PAPER PROPOSES A MULTI-REGIONAL DYNAMIC APPLIED GENERAL EQUILIBRIUM FRAMEWORK WITHIN WHICH TO STUDY A VERY WIDE RANGE OF ECONOMIC PROBLEMS THAT HAVE ALWAYS BEEN PRESENTED IN ISOLATION FROM ONE ANOTHER. AS A RESEARCH OUTPUT, A PROTOTYPE VIRTUAL ECONOMY MODEL OF AFRICA IS DEMONSTRATED.

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File URL: http://128.118.178.162/eps/comp/papers/0312/0312004.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Computational Economics with number 0312004.

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Date of creation: 26 Dec 2003
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Handle: RePEc:wpa:wuwpco:0312004

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Web page: http://128.118.178.162

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Keywords: AFRICAN ECONOMY; MULTI-REGIONAL; DYNAMIC APPLIED GENERAL EQUILIBRIUM; VIRTUAL ECONOMY; SIMULATIONS;

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