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Structural transformation in the presence of trade and financial integration in sub–Saharan Africa

Author

Listed:
  • Imhotep Paul Alagidede
  • Muazu Ibrahim
  • Yakubu Awudu Sare

Abstract

This study examines the impact of trade and financial integration on structural transformation relying on data from 28 countries in sub-Saharan Africa (SSA) over the period 1985–2015. Results from our system generalized method of moments (GMM) show that, trade and financial integration significantly spur manufacturing and agricultural sector value additions. However, for the industrial sector, only financial integration robustly influences industrial growth with no effect on the service sector. Further evidence also suggests that trade and financial integration are complementary to each other and do not operate independently to influence structural transformation in SSA.

Suggested Citation

  • Imhotep Paul Alagidede & Muazu Ibrahim & Yakubu Awudu Sare, 2020. "Structural transformation in the presence of trade and financial integration in sub–Saharan Africa," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 20(1), pages 21-31.
    • Handle: RePEc:tcb:cebare:v:20:y:2020:i:1:p:21-31
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    Citations

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    Cited by:

    1. Ibrahim A. Adekunle & Olumuyiwa G. Yinusa & Tolulope O. Williams & Rahmon A. Folami, 2021. "On the Determinant of Financial Development in Africa: Geography, Institutions and Macroeconomic Policy Relevance," Working Papers 21/054, European Xtramile Centre of African Studies (EXCAS).
    2. Imen Mohamed Sghaier, 2020. "Does Financial Development Affect the Economic Growth Gains from Trade Openness?," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 666-682, December.
    3. Ibrahim, Muazu, 2020. "Effects of trade and financial integration on structural transformation in Africa: New evidence from a sample splitting approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 556(C).
    4. Nick Vink, 2022. "African agricultural development: How are we contributing?," Agricultural Economics, International Association of Agricultural Economists, vol. 53(4), pages 540-562, July.
    5. Kossi Ayenagbo, 2023. "Analyse de l'effet empirique de l'intégration économique sur la croissance sectorielle en Afrique Subsaharienne: quelle implication de la gouvernance?," African Development Review, African Development Bank, vol. 35(1), pages 52-64, March.

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