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The International Dimension of African Economic Growth

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  • Augustin Kwasi Fosu

Abstract

The paper sheds light on the importance of the international dimension for African economic growth. While existing evidence points to a positive impact of openness on growth, the appropriate dynamics of the implications are yet to be captured. The beneficial effects of exports are confirmed for African economies, though available evidence suggests that it is the manufacturing component that seems to really matter for growth. International shocks in the form of terms of trade declines; economic instabilities of capital (investment) and imports; world interest rates; real exchange rate misalignment; and external debt all appear to exercise adverse implications for growth in Africa.

Suggested Citation

  • Augustin Kwasi Fosu, 2000. "The International Dimension of African Economic Growth," CID Working Papers 34, Center for International Development at Harvard University.
    • Handle: RePEc:wop:cidhav:34
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    2. Peter Mawunyo Dzidza & Ian Jackson & Ametefee K. Normanyo & Michael Walsh, 2017. "The Effects of Poverty Reduction Strategies on Artisanal Fishing in Ghana: The Case of Keta Municipality," Journal of Sustainable Development, Canadian Center of Science and Education, vol. 10(3), pages 1-68, May.
    3. Alemayehu Geda, 2006. "Openness, Inequality and Poverty in Africa," Working Papers 25, United Nations, Department of Economics and Social Affairs.
    4. DEGUENONVO, Cédric, 2017. "Real exchange rate misalignment in Senegal: effect on growth," MPRA Paper 84338, University Library of Munich, Germany.
    5. Guisan, M.Carmen & Exposito, Pilar, 2002. "Education, Industry, Trade and Development of African Countries in 1980-99," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 2(2), pages 85-107.
    6. Mina Baliamoune-Lutz, 2002. "Assessing the Impact of One Aspect of Globalization on Economic Growth in Africa," WIDER Working Paper Series DP2002-91, World Institute for Development Economic Research (UNU-WIDER).
    7. n.a.m, Naseem & m.s, Hamizah, 2013. "Exchange Rate Misalignment and Economic Growth: Recent Evidence in Malaysia," MPRA Paper 52447, University Library of Munich, Germany.
    8. Ms. Camelia Minoiu & Patrick A. Imam, 2008. "Mauritius: A Competitiveness Assessment," IMF Working Papers 2008/212, International Monetary Fund.
    9. Elbadawi, Ibrahim A. & Kaltani, Linda & Soto, Raimundo, 2012. "Aid, Real Exchange Rate Misalignment, and Economic Growth in Sub-Saharan Africa," World Development, Elsevier, vol. 40(4), pages 681-700.

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    Keywords

    International; Africa; Growth;
    All these keywords.

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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