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Editor's choice Crises, Economic Integration and Growth Collapses in African Countries

Author

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  • Abdilahi Ali
  • Katsushi S. Imai

Abstract

The objective of this article is to explore the effects of crises and openness on a large sample of African countries. Focusing on sudden stops, currency, twin and sovereign debt crises, the article shows that crises are associated with growth collapses in Africa. In contrast, openness is found to be beneficial to growth. More specifically, consistent with standard Mundell–Fleming type models, greater openness to trade and financial flows is found to mitigate the adverse effects of crises. These findings are robust to various measures of both openness and crises as well as to endogeneity concerns.

Suggested Citation

  • Abdilahi Ali & Katsushi S. Imai, 2015. "Editor's choice Crises, Economic Integration and Growth Collapses in African Countries," Journal of African Economies, Centre for the Study of African Economies, vol. 24(4), pages 471-501.
    • Handle: RePEc:oup:jafrec:v:24:y:2015:i:4:p:471-501.
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    File URL: http://hdl.handle.net/10.1093/jae/ejv010
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    Cited by:

    1. A. Ovchinnikov & Z. Kozenko & M. Bichkov & V. Kabanov & A.Karpova, 2015. "Strategic Management of Sustainable Development of Agro – Industrial Complex with Economic Integration," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 307-315.
    2. Renato Santiago & José Alberto Fuinhas & António Cardoso Marques, 2020. "The impact of globalization and economic freedom on economic growth: the case of the Latin America and Caribbean countries," Economic Change and Restructuring, Springer, vol. 53(1), pages 61-85, February.
    3. Ekpo Akpan & Chuku Chuku, 2017. "Working Paper 291 - Regional Financial Integration and Economic Activity in Africa," Working Paper Series 2403, African Development Bank.
    4. Marija & Milan Kostiæ, 2020. "Globalization and economic growth of Eurozone economies," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(1), pages 183-214.
    5. Rasmane Ouedraogo & Hamidous Sawadogo & Issa Dianda, 2024. "Globalisation, economic growth and quality of infrastructure: New insights," The World Economy, Wiley Blackwell, vol. 47(4), pages 1682-1716, April.
    6. Md Akhtaruzzaman & Ramzi Benkraiem & Sabri Boubaker & Constantin Zopounidis, 2022. "COVID‐19 crisis and risk spillovers to developing economies: Evidence from Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(4), pages 898-918, May.
    7. Pedro Antonio Martín Cervantes & Nuria Rueda López & Salvador Cruz Rambaud, 2020. "The Effect of Globalization on Economic Development Indicators: An Inter-Regional Approach," Sustainability, MDPI, vol. 12(5), pages 1-18, March.
    8. Niklas Potrafke, 2015. "The Evidence on Globalisation," The World Economy, Wiley Blackwell, vol. 38(3), pages 509-552, March.
    9. Pedro Antonio Martín Cervantes & Nuria Rueda López & Salvador Cruz Rambaud, 2020. "The Relative Importance of Globalization and Public Expenditure on Life Expectancy in Europe: An Approach Based on MARS Methodology," IJERPH, MDPI, vol. 17(22), pages 1-20, November.

    More about this item

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • F15 - International Economics - - Trade - - - Economic Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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