Sub-Saharan Africa’s growth, South–South trade and the generalised balance-of-payments constraint
Using the post-Keynesian balance-of-payments constrained growth approach, we investigate the recent increase in Sub-Saharan Africa (SSA) growth, focussing on the contribution of South-South trade. The model is estimated by panel co-integration on a sample of 20 low- and lower-middle-income SSA countries, using annual data from 1990 to 2008, and considering three partner areas: SSA itself, developing Asia and the rest of the world. The results show that in the past decade the balance-of-payments constraint of SSA has been relaxed. This shift has occurred through different channels of transmission: the other SSA countries contributed through the real growth effect, developing Asia through the market share effect and the rest of the world through the terms of trade effect. These results help reconcile puzzling evidence on the pattern of SSA external indebtedness and provide new insights on the role of ‘Asian drivers’ on SSA growth, as well as on the sustainability of SSA growth recovery.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 40 (2016)
Issue (Month): 3 ()
|Contact details of provider:|| Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK|
Fax: 01865 267 985
Web page: http://www.cje.oupjournals.org/
|Order Information:||Web: http://www.oup.co.uk/journals|
When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:40:y:2016:i:3:p:797-820.. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.