Financial liberalization enables market forces to play a greater role in mobiliz- ing resources, allocating credit, setting financial asset prices and improving financial intermediation. Many studies have claimed that these changes enhance savings, and improve efficiency of investment, which...

This paper derives and uses a variant of the gravity model to assess the market implications of the COMESA’s accession to the Free Trade Area. The results show that the traditional explanatory variables of the gravity model are the significant determinants of trade flows in the COMESA region,...

In this note, we highlight some economic effects of the existence of child trafficking. We show that the risk of child trafficking on the labor market acts as a deterrent to supply child labor, unless household survival is at stake. Better law enforcement against child trafficking, by raising...

Implications of the Trade and Development Act of 2000, which includes the African Growth and Opportunity Act (AGOA), for U.S. textile and apparel industries were investigated. This study applied the sub-Saharan’s top five U.S. textile and apparel import countries’ economic, political,...

Using panel data from 39 countries, this paper examines the effects of financial deepening and openness to trade and foreign capital (FDI) on rural-urban inequality in Africa. Four estimations were performed: OLS pooled cross-section, GLS pooled cross-section, fixed effects model and an adjusted...

Although Sudan is a predominately agricultural economy, crop productivity is extremely low and does not exceed 30% of the level attained in research farms. Even though most farmers acknowledge the great benefits of technologies provided by research and academic institutions, they argue that most...

The paper shows that civil war in Burundi in the 1990s has provoked an unprecedented decline in government revenue. Both foreign aid transfers and revenue from domestic sources dried up, inducing the government to rely more on inflation tax. Using quarterly data covering the period from 1980:1...

This paper investigates the difference in growth effects of human capital in African countries and the rest of the world. Using an expanded neoclassical growth model, panel data, a dynamic panel estimator and a broader definition of human capital including both health and education, we find that...

Infation has been relatively high and volatile in Malawi since the 1980s. The various attempts to stabilize inflation have only yielded temporary relief, and inflation remains the central problem for policymakers. This paper attempts to shed some light on the impact of exchange rate depreciation...

This study examines the contribution of foreign aid to economic growth in the context of macroeconomic policy. Using certain macroeconomic indicators as policy variables I construct a dynamic growth equation which is estimated by way of Generalized Method of Moments. In generating the...