scholarly journals Bringing Pankaj Ghemawat to Africa: Measuring African economic integration

2016 ◽  
Vol 19 (1) ◽  
pp. 82-102
Author(s):  
Adrian David Saville ◽  
Lyall White
Keyword(s):  
Economic Growth ◽  
East Africa ◽  
Economic Integration ◽  
Global Economy ◽  
African Countries ◽  
Survey Period ◽  
Human Welfare ◽  
Economic Changes ◽  
The World ◽  
Challenges And Opportunities

A wealth of literature dealing with trade liberalisation, capital market liberalisation, labour mobility and related issues concerning globalisation asserts that economies that are more integrated with the global economy and, more specifically with their neighbours, tend to enjoy higher sustained levels of growth. Empirical evidence with solid quantitative findings recently conducted by Pankaj Ghemawat has confirmed that more ‘open and connected’ economies display higher rates of economic growth, higher per capita income levels and greater levels of human welfare. Against this backdrop, it is notable that the available evidence – whilst incomplete – suggests that African economies are amongst the least integrated in the world. Given that integration and connectedness matter, and that there are material gaps in the evaluation of integration for African economies, it is important to develop better measures of African economies’ connectedness with their neighbours and with the world, how this connectedness is evolving and establish more comprehensive and robust means of economic integration compared to those historically available. Using Ghemawat’s framework, which measures flows of trade, capital, information and people (TCIP) to determine connectedness, we develop the Visa Africa integration index to provide a more comprehensive and detailed gauge of economic integration for 11 African countries in three clusters: East Africa, West Africa and Southern Africa. The index results suggest that African economies are emerging off a modest base, with some economies demonstrating progressive structural improvements toward higher levels of integration with their respective regions and the world. East Africa, in particular, shows signs of rising connectedness over the survey period. The index also illustrates that some countries are more integrated globally than regionally and vice versa, which is important information for policy makers toward improving deeper and broader integration in their respective regions. The index builds on previous research in the broad area of integration and helps us better understand the challenges and opportunities presented by Africa’s economic changes and some of the implications for economic growth.

scholarly journals Economic growth and prospects for economic development of African countries southward Sahara

2020 ◽  
pp. 129-139
Author(s):  
Marina Viktorovna Ledeneva ◽  
Tatyana Alekseevna Plaksunova
Keyword(s):  
Economic Growth ◽  
Information And Communication Technologies ◽  
Regional Integration ◽  
Global Economy ◽  
Industrial Development ◽  
Armed Conflicts ◽  
African Countries ◽  
Development Organization ◽  
The World ◽  
Administrative Expenses

This article is dedicated to analysis of the process of economic growth and development in African countries southward Sahara – the least industrializes region of the world. The main prerequisites for industrialization and economic growth in of African countries southward Sahara are the high urbanization ratios: the growing number of workforce, their qualification level, high portion of youth within the population structure, expanding domestic market, growing middle class, de-escalation of internal political confrontations and attenuation of cross-country armed conflicts, advancement of digital technologies. The information and empirical basis is comprised of the data of the United Nations Industrial Development Organization and the World Bank. The scientific novelty consists in determination of the points of growth in Africa southwards Sahara by means of application of the methods of statistical data analysis. The authors analyze the indicators of economic growth and industrialization of African countries southward Sahara, substantiate the increasing role of this region for the global economy. The article reveals spatial aspects of industrialization of African countries and allocation of the industrial production. The authorities of African countries must manage the industrialization processes, namely focus on the development of infrastructure, improvement of investment climate, transparency of legislation, reduction of administrative expenses for businesses, reduction of corruption, and prevention of armed conflicts. The regional integration would contribute to solution of the aforementioned issues. The key vectors in cooperation of African countries southward Sahara and Russia are the areas of oil extraction, energy sphere, information and communication technologies, and agriculture.

Openness of the Russian economy as a source of economic growth

2016 ◽  
pp. 26-42 ◽  
Author(s):  
P. Kadochnikov ◽  
A. Knobel ◽  
S. Sinelnikov-Murylev
Keyword(s):  
Economic Growth ◽  
Economic Integration ◽  
Global Economy ◽  
Regional Economic Integration ◽  
Policy Recommendations ◽  
Regional Economic ◽  
Russian Economy

The paper considers measures on Russia’s integration into the global economy, aimed at the economic growth resumption. It analyzes conditions and mechanisms due to which the expanding trade and mutual investment with other countries contribute to economic growth in Russia. The paper provides policy recommendations for export support, regional economic integration agenda and the institutions reform.

Water and sanitation in Africa: current status, trends, challenges and opportunities

2017 ◽  
Author(s):  
George Kararach ◽  
Tito Yepes
Keyword(s):  
Economic Growth ◽  
Rural Poverty ◽  
Water Security ◽  
River Basins ◽  
Current Status ◽  
Institution Building ◽  
Infrastructure Development ◽  
African Countries ◽  
Hydrological Variability ◽  
Challenges And Opportunities

Africa faces difficult water/sanitation legacies in the form of high hydrological variability and a multiplicity of transboundary river basins alongside poor sanitation. These challenges impeded the continent’s economic growth. Balanced investments in water resource and sanitation infrastructure and institutions are needed to increase productive uses of water, to mitigate the effect of recurrent floods and droughts, and to achieve basic water security as a platform for Africa’s economic growth. Priority should be given to investments that (a) focus on growth, (b) reduce rural poverty, (c) build climate resilience and adaptation, and (d) foster cooperation in international river basins. Because most African countries have low stocks of hydraulic infrastructure, emphasizing investments in infrastructure is appropriate for them. However, institution building and reform, improvements in water/sanitation management and operations, and strengthening of water information systems must complement growth in infrastructure. Development of institutions should be advanced in parallel with infrastructure investment.

scholarly journals Structural changes and economic growth in the world economy and Russia

2019 ◽  
Vol 5 (1) ◽  
pp. 1-26 ◽  
Author(s):  
Valeriy V. Mironov ◽  
Liudmila D. Konovalova
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Global Economy ◽  
World Economy ◽  
Structural Changes ◽  
Russian Economy ◽  
The World ◽  
Preliminary Version ◽  
The One ◽  
Relationship Of

The article considers the problem of the relationship of structural changes and economic growth in the global economy and Russia in the framework of different methodological approaches. At the same time, the paper provides the analysis of complementarity of economic policy types, which, on the one hand, are aimed at developing the fundamentals of GDP growth (institutions, human capital and macroeconomic stabilization), and on the other hand, at initiating growth (with stable fundamentals) with the help of structural policy measures. In the study of structural changes in the global economy, new forms of policies of this kind have been revealed, in particular aimed at identifying sectors — drivers of economic growth based on a portfolio approach. In a given paper a preliminary version of the model of the Russian economy is provided, using a multisector version of the Thirlwall’s Law. Besides, the authors highlight a number of target parameters of indicators of competitiveness of the sectors of the Russian economy that allow us to expect its growth rate to accelerate above the exogenously given growth rate of the world economy.

Economic African Development in the Context of FinTech

2020 ◽  
pp. 273-289
Author(s):  
Youssra Ben Romdhane ◽  
Sahar Loukil ◽  
Souhaila Kammoun
Keyword(s):  
Economic Growth ◽  
World Bank ◽  
Least Square ◽  
National Accounts ◽  
African Countries ◽  
The World Bank ◽  
Digital Infrastructure ◽  
Wide Range ◽  
The World ◽  
Data Files

The purpose of this chapter is to analyze the effect of FinTech and political incertitude on economic growth through a multiple regression. Thus, the authors employ the method of generalized least square (GLS) with panel data. The sample concerns 21 African countries during (2001-2014-2017). The authors use a wide range of measures from Global Findex Database 2017, the World Bank platform, the World Bank national accounts data, and the OECD National Accounts data files base in the context of Africa. Empirical results show that FinTech is a driver of economic growth unless it is actively used in a developed digital infrastructure. In fact, the authors prove that, when financial technologies are used in both transactions (receive and made digital payment), they significantly contribute to the economic cycle. Passive use like simple consumption actions are not a significant lever for the economy. The principal contribution is to highlight that the active use of financial innovations and not passive one and the developed digital infrastructure do promote economic growth in African countries.

Economic Integration of African Economies With China and India

2020 ◽  
pp. 25-48
Author(s):  
Akhilesh Chandra Prabhakar ◽  
Vasilii Erokhin ◽  
Rajender Singh Godara
Keyword(s):  
Economic Integration ◽  
Direct Investment ◽  
Global Economy ◽  
Dynamic Change ◽  
African Countries ◽  
Developed Economies ◽  
Existing Problems ◽  
Trade Relationship ◽  
Traditional Pattern ◽  
Trade And Investment

In recent decades, the global economy has been witnessing the emergence of the Global South, which accounted for about 40% of global trade in 2017, up from 24% in 2001. The traditional pattern of trade, generally skewed towards developed economies, has shifted to a growing South-South trade relationship. The rapidly expanding trade and investment relationship within the China-India-Africa triangle attests to this dynamic change. This study reviews China-Africa and India-Africa relations along the lines of trade flows (dynamics, structure, and destinations of exports and imports) and foreign direct investment (stocks accumulated in African countries). The authors emphasize existing problems and challenges in China-Africa and India-Africa trade and investment integration and reveal opportunities for the three sides to collaborate with an aim to spur economic growth.

Challenges for Vietnam in the Globalization Era

2018 ◽  
Vol 9 (1) ◽  
Author(s):  
Dong Phong Nguyen ◽  
Viet Tien Ho ◽  
Xuan Vinh Vo
Keyword(s):  
Economic Growth ◽  
Value Chain ◽  
Global Economy ◽  
Global Value Chain ◽  
Domestic Markets ◽  
Wide Range ◽  
The World ◽  
Growth Prospects ◽  
Economic Slowdown ◽  
Emerging And Developing Countries

Abstract Emerging and developing countries around the world are playing an increasingly important role in the global economy. They move up in the global value chain very quickly. However, these countries constantly facing a plethora of challenges covering a wide range of issues. This paper addresses some key challenges confronting Vietnam economy which potentially deteriorate its economic growth prospects. These include economic slowdown, credit booming, the rise of protectionism around the world, and risk from greater opening of the domestic markets. Addressing these challenges are important for Vietnam to maintain its comparative advantage and foundation for economic growth.

scholarly journals EFFECTS OF TRADE FLOW LIBERALIZATION: CASE OF ASEAN, NAFTA & MERCOSUR

2018 ◽  
Vol 8 (1) ◽  
pp. 64-69
Author(s):  
Hasan Mahmutović ◽  
◽  
Alem Merdić ◽  
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Integration ◽  
Regional Policy ◽  
Trade Flow ◽  
Trade Flows ◽  
Uneven Distribution ◽  
The European Union ◽  
The World ◽  
Distribution Of Income

An important factor and the inescapable link of the globalization process are economic integrations, which by the liberalization of trade flows contributes significantly to the interconnection of countries, thus directly affecting the enhancement of the value of macroeconomic parameters at the level of the formed integration. The aim of this paper is to examine the effects of economic integration on the example of ASEAN, NAFTA and MERCOSUR integration, which, along with the European Union, represent the most relevant integrations in the world. The analysis showed, as a consequence of the integration, increased volume of trade exchange, increased FDI level and achieved real economic growth on the level of integration. However, the analysis has shown, in particular in the ASEAN area, that there is still a problem of uneven distribution of income and fairer implementation of regional policy, in order to integrate growth generated into the development of less developed areas.

scholarly journals Factors of Economic Growth in Sub-Saharan Africa: Current Trends

2018 ◽  
Vol 11 (5) ◽  
pp. 38-54 ◽  
Author(s):  
G. V. Podbiralina ◽  
J. C. Asiagba
Keyword(s):  
Economic Growth ◽  
New Technologies ◽  
Negative Impact ◽  
Sub Saharan Africa ◽  
Added Value ◽  
African Countries ◽  
The World ◽  
Innovative Products ◽  
The Status ◽  
Sub Saharan

Despite the fact that the African continent is positioned as one of the fastest growing economies in the world (especially the sub-region of sub-Saharan Africa), the lack of industrialization and the use of modern technologies continues to be a brake on the development of the economies of African countries, which largely depend on agriculture and exports of raw goods that have a relatively low added value and account for more than 80% of their exports. This has a negative impact not only on the economic development of the region, but also on per capita incomes of the population. This article assesses the existing economic potential of African countries, which is one of the most important factors for overcoming economic backwardness, achieving the goals of sustainable development, raising the standard of living of the population and changing the status of SSA countries in the world economic system. It is shown that it is important for African states to attract new technologies and innovative products to the industrial and agricultural sectors, since knowledge and innovations are the locomotive of economic growth and are one of the most important factors in the reconstruction and modernization of their economies.

scholarly journals The Importance Of SMEs On World Economies

2019 ◽  
Author(s):  
Murat Bayraktar ◽  
Neşe Algan
Keyword(s):  
Economic Growth ◽  
Development Strategy ◽  
Global Economy ◽  
World Economy ◽  
Poverty Reduction ◽  
National Development ◽  
Business Sector ◽  
Developed Economies ◽  
Turn On ◽  
The World

The importance of SMEs to world economies is well reported. SMEs (firms with 200 or less employees) construct the biggest business sector in each global economy therefore governments around the world are increase the effort to promote and support SME expansion as their national development strategy. Micro firms and SMEs are forming the majority of firms in most countries (which 95% on average) and for the large majority of jobs. While SMEs are dominating of very great numbers, SMEs are significant due to their importance as priority drivers to employment, economic growth and innovation. According to the World Trade Organization SMEs represent over 90% of the business population, 60-70% of employment and 55% of GDP in developed economies. SMEs held for around 20% of patents, one measure of innovation, in biotechnology-related fields in the Europe. As the world economy faces with prevailing challenges, governments increasingly start to turn on SMEs as a significant element of sustainable and inclusive economic growth. The importance of SMEs to; economic growth, poverty reduction, innovation and job creation also social cohesion are major key.

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