Does infrastructure really explain economic growth in Sub-Saharan Africa?

Review of Development Finance - Tập 6 - Trang 105-125 - 2016
Odongo Kodongo1, Kalu Ojah1
1Wits Business School, 2 St. David’s Place, Parktown, Johannesburg 2193, South Africa

Tài liệu tham khảo

Acemoglu, 2002, Reversal of fortune: geography and institutions in the making of the modern world income distribution, Q. J. Econ., 117, 1231, 10.1162/003355302320935025 Acemoglu, 2005, Institutions as the fundamental cause of long-run growth, 385, 10.1016/S1574-0684(05)01006-3 AfDB, 2011 AfDB, 2013 AfDB, 2013 African Union, 2014, Programme for Infrastructure Development in Africa (PIDA): addressing the infrastructure gap in Africa, to speed up regional integration Aizenman, 2015, Financial development and output growth in developing Asia and Latin America: a comparative sectorial analysis, Natl. Bur. Econ. Res. Ajakaiye, 2010, Infrastructure and economic development in Africa, J. Afr. Econ., 19, i3, 10.1093/jae/ejq003 Arellano, 1991, Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, Rev. Econ. Stud., 58, 277, 10.2307/2297968 Arellano, 1995, Another look at the instrumental variable estimation of error-component models, J. Econom., 68, 29, 10.1016/0304-4076(94)01642-D Aschauer, 1993, Genuine economic returns to infrastructure investment, Policy Stud. J., 21, 380, 10.1111/j.1541-0072.1993.tb01830.x Ayogu, 2007, Infrastructure and economic development in Africa: a review, J. Afr. Econ., 16, 75, 10.1093/jae/ejm024 Barro, 1990, Government spending in a simple model of endogenous growth, J. Political Econ., 98, S102, 10.1086/261726 Barro, 1996, Determinants of economic growth: a cross-country empirical study, Natl. Bur. Econ. Res. Becker, 1999, Population and economic growth, Am. Econ. Rev., 89, 145, 10.1257/aer.89.2.145 Blundell, 1998, Initial conditions and moment restrictions in dynamic panel data models, J. Econom., 87, 11, 10.1016/S0304-4076(98)00009-8 Boopen, 2006, Transport infrastructure and economic growth: evidence from Africa using dynamic panel estimates, Empir. Econ. Lett., 5, 37 Bullock, 2009 Calderón, 2010, Infrastructure and economic development in Sub-Saharan Africa, J. Afr. Econ., 19, i13, 10.1093/jae/ejp022 Calderón, 2003, The direction of causality between financial development and economic growth, J. Dev. Econ., 72, 321, 10.1016/S0304-3878(03)00079-8 Canning, 2004 Chang, 2011, Institutions and economic development: theory, policy and history, J. Inst. Econ., 7, 473 Chowdhury, 2015, Terms of trade shocks and private savings in the developing countries, J. Comp. Econ., 43, 1122, 10.1016/j.jce.2015.02.006 Cinyabuguma, 2011, Sub-Saharan growth surprises: being heterogeneous, inland and close to the equator does not slow growth within Africa, J. Afr. Econ., 20, 217, 10.1093/jae/ejq040 Dicle, 2013, Estimating Geweke’s (1982) measure of instantaneous feedback, Stata J., 13, 136, 10.1177/1536867X1301300110 Dinkelman, 2011, Effects of rural electrification on employment: new evidence from South Africa, Am. Econ. Rev., 101, 3078, 10.1257/aer.101.7.3078 Easterly, 2001, What have we learned from a decade of empirical research on growth? It’s not factor accumulation: stylized facts and growth models, World Bank Econ. Rev., 15, 177, 10.1093/wber/15.2.177 Eberhard, 2011 Economic Commission for Africa (ECA), 2005 Egert, 2009 Esfahani, 2003, Institutions infrastructure, and economic growth, J. Dev. Econ., 70, 443, 10.1016/S0304-3878(02)00105-0 Estache, A., Vagliasindi M., 2007. Infrastructure for accelerated growth for Ghana: needs and challenges, Unpublished Manuscript. Estache, 2006 Fedderke, 2006, Infrastructural investment in long-run economic growth: South Africa, 1875–2001, World Dev., 34, 1037, 10.1016/j.worlddev.2005.11.004 Fedderke, 2008 2010 Geweke, 1982, Measures of conditional linear dependence and feedback between time series, J. Am. Stat. Assoc., 77, 304, 10.1080/01621459.1982.10477803 Ghura, 1996, Growth in sub-Saharan Africa, IMF Staff Pap., 43, 605, 10.2307/3867556 Glaeser, 2004, Do institutions cause growth?, J. Econ. Growth, 9, 271, 10.1023/B:JOEG.0000038933.16398.ed Gramlich, 1994, Infrastructure investment: a review essay, J. Econ. Lit., 32, 1176 Hassan, 2011, Financial development and economic growth: new evidence from panel data, Q. Rev. Econ. Finance., 51, 88, 10.1016/j.qref.2010.09.001 Holtz-Eakin, 1988, Estimating vector autoregressions with panel data, Econometrica, 56, 1371, 10.2307/1913103 Kimenyi, 2007 Kularatne, 2006, Social and economic infrastructure impacts on economic growth in South Africa Kumar, 2001 Kumo, 2012 Lee, 2009, Both institution and policies matter but differently for different income groups of countries: determinants of long-run economic growth revisited, World Dev., 37, 533, 10.1016/j.worlddev.2008.07.004 Li, 2005, Foreign direct investment and economic growth: an increasingly endogenous relationship, World Dev., 33, 393, 10.1016/j.worlddev.2004.11.001 Mbaku, J.M., 2013. Building opportunities: addressing Africa’s lack of infrastructure. The Brookings Inst., Afr. Growth Initiat. www.brookings.edu/foresightafrica. Menyah, 2014, Financial development, trade openness and economic growth in African countries: new insights from a panel causality approach, Econ. Model., 37, 386, 10.1016/j.econmod.2013.11.044 Mthanti, 2016, Entrepreneurial orientation (EO): measurement and policy implications of entrepreneurship at the macroeconomic level, Res. Policy Muhanji, 2011, Management and sustainability of external debt: a focus on the emerging economies in Africa, Rev. Dev. Finance, 1, 184, 10.1016/j.rdf.2011.09.001 Muhanji, 2016, Governance infrastructure and indebtedness of African countries: do regional blocs matter?, N. Am. J. Econ. Finance, 36, 123, 10.1016/j.najef.2015.12.004 Ndulu, 2006, Infrastructure, regional integration and growth in sub-Saharan Africa: dealing with the disadvantages of geography and sovereign fragmentation, J. Afr. Econ., 15, 212, 10.1093/jae/ejl033 Nyamongo, 2012, Remittances, financial development and economic growth in Africa, J. Econ. Bus., 64, 204, 10.1016/j.jeconbus.2012.01.001 Obwona, 2001, Determinants of FDI and their impact on economic growth in Uganda, Afr. Dev. Rev., 13, 46, 10.1111/1467-8268.00030 Ojah, 2015, Financial development in Africa: reflections and the way forward Pritchett, 2004 Redding, 2004, Economic geography and international inequality, J. Int. Econ., 62, 53, 10.1016/j.jinteco.2003.07.001 Reinikka, 1999 Roberts, 2004 Rodrik, 2003, Introduction, 1 Rodrik, 2014, An African growth miracle?, Natl. Bur. Econ. Res. Rodrik, 2002, Institutions rule: the primacy of institutions over geography and integration in economic development, Natl. Bur. Econ. Res. Roodman, 2006 Roodman, 2009, A note on the theme of too many instruments, Oxf. Bull. Econ. Stat., 71, 135, 10.1111/j.1468-0084.2008.00542.x Sachs, 2002, The economic and social burden of malaria, Nature, 415, 680, 10.1038/415680a Sachs, 2004, Ending Africa’s poverty trap, Brook. Pap. Econ. Act., 117, 10.1353/eca.2004.0018 Sanchez-Robles, 1998, Infrastructure investment and growth: some empirical evidence, Contemp. Econ. Policy, 16, 98, 10.1111/j.1465-7287.1998.tb00504.x Simon, 1980, The relationship between population and economic growth in LDC’s, vol. 2, 215 Weinhold, 2001, Model evaluation and causality testing in short panels: the case of infrastructure provision and population growth in the Brazilian Amazon, J. Reg. Sci., 41, 639, 10.1111/0022-4146.00236 World Bank, 2006