Have a personal or library account? Click to login
Catalysts of Economic Welfare in Africa: A Cross-Sectional Autoregressive Distributed Lag Approach Cover

Catalysts of Economic Welfare in Africa: A Cross-Sectional Autoregressive Distributed Lag Approach

Open Access
|Oct 2023

References

  1. Abdulqadir, I. A.; Asongu, S. A. (2022). The asymmetric effect of Internet access on economic growth in sub-Saharan Africa. Economic Analysis and Policy 73: 44–61. https://doi.org/10.1016/j.eap.2021.10.014.
  2. Adekunle, I. A. (2021). On the search for environmental sustainability in Africa: The role of governance. Environmental Science and Pollution Research 28(12): 14607–14620. https://doi.org/10.1007/s11356-020-11432-5.
  3. Ajide, K. B. (2022). Is natural resource curse thesis an empirical regularity for economic complexity in Africa? Resources Policy 76. https://doi.org/10.1016/j.resourpol.2022.102755.
  4. Albiman, M. M.; Sulong, Z. (2017). The linear and non-linear impacts of ICT on economic growth of disaggregated income groups within the SSA region. Telecommunications Policy 41(7–8): 555–572. https://doi.org/10.1016/j.telpol.2017.07.007.
  5. Aljarallah, R. A. (2021). An assessment of the economic impact of natural resource rents in the kingdom of Saudi Arabia. Resources Policy 76. https://doi.org/10.1016/j.resourpol.2021.102070.
  6. Aurland-Bredesen, K. J. (2021). The welfare costs of uncertainty: Cross-country evidence. World Development 146. https://doi.org/10.1016/j.worlddev.2021.105478.
  7. Bersvendsen, T.; Ditzen, J. (2021). Testing for slope heterogeneity in Stata. The Stata Journal 21(1): 51–80. https://doi.org/10.1177/1536867X211000004.
  8. Biørn, E. (2016). Panel data estimators and aggregation. Memorandum 19. Oslo: University of Oslo, Department of Economics.
  9. Blomquist, J.; Westerlund, J. (2013). Testing slope homogeneity in large panels with serial correlation. Economics Letters 121(3): 374–378. https://doi.org/10.1016/J.ECONLET.2013.09.012.
  10. Bonasia, M.; Napolitano, O.; Spagnolo, F.; Spagnolo, N. (2022). The economic and welfare state determinants of well-being in Europe. International Economics 171: 49–57. https://doi.org/10.1016/j.inteco.2022.04.005.
  11. Bugliarello, G.; Parrinello, S. (1984). Technology and Economic Development. Metroeconomica 36: 111–119.
  12. Choi, I. (2001). Unit root tests for panel data. Journal of International Money and Finance 20(2): 249–272. https://doi.org/10.1016/s0261-5606(00)00048-6.
  13. Chudik, A.; Mohaddes, D. K.; Pesaran, M. H. (2015). Long-run effects in large heterogenous panel data models with cross-sectionally correlated errors. Federal Reserve Bank of Dallas. Globalization and Monetary Policy Institute. Available at: http://www.dallasfed.org/assets/documents/institute/wpapers/2015/0223.pdf.
  14. Dao, B. T.; Nguyen, K. A. (2020). Bank capital adequacy ratio and bank performance in Vietnam: A simultaneous equations framework. Journal of Asian Finance, Economics and Business 7(6): 39–46. https://doi.org/10.13106/JAFEB.2020.
  15. David, O. O. (2019). Nexus between telecommunication infrastructures, economic growth and development in Africa: Panel vector autoregression (P-VAR) analysis. Telecommunications Policy 43(8). https://doi.org/10.1016/j.telpol.2019.03.005.
  16. De Hoyos, R. E.; Sarafidis, V. (2006). Testing for cross-sectional dependence in panel-data models. The Stata Journal 6(4): 482–496.
  17. Deyshappriya, N. (2017). Impact of macroeconomic factors on income inequality and income distribution in Asian countries. Asian Development Bank Institute. Available at: www.adbi.org/sites/default/files/publication/234271/adbi-wp696.pdf.
  18. Fagerberg, J. (1987). A technology gap approach to why growth rates differ. Research Policy 16(2–4): 87–99. https://doi.org/10.1016/0048-7333(87)90025-4.
  19. Fink, J.; Ducoing, C. (2021). Does natural resource extraction compromise future well-being? Norwegian Genuine Savings 1865–2018. (LSR Working Papers Series 21/05).
  20. Freeman, C. (1982). The Economics of Industrial Innovation. 2nd edition. London: Francis Pinter.
  21. Frees, E. W. (1995). Assessing cross-sectional correlation in panel data. Journal of Econometrics 69(2): 393–414. https://doi.org/10.1016/0304-4076(94)01658-m. Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. The Econometrics Journal 3(2): 148–161. https://doi.org/10.1111/1368-423x.00043.
  22. Haftu, G. G. (2019). Information communications technology and economic growth in sub-Saharan Africa: A panel data approach. Telecommunications Policy 43(1): 88–99. https://doi.org/10.1016/j.telpol.2018.03.010.
  23. Hashem Pesaran, M. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics 22(2): 265–312. https://doi.org/10.1002/jae.951.
  24. Hashem Pesaran, M.; Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics 142(1): 50–93. https://doi.org/10.1016/j.jeconom.2007.05.010.
  25. Henderson, D. J.; Carroll, R. J.; Li, Q. (2008). Nonparametric estimation and testing of fixed effects panel data models. Journal of Econometrics 144(1): 257–275. https://doi.org/10.1016/j.jeconom.2008.01.005.
  26. Hurlin, C.; Dumitrescu, E. (2011). Testing for granger non-causality in heterogeneous panels. Available at: https://halshs.archives-ouvertes.fr/halshs-00224434v2.
  27. International Monetary Fund. (2001). Macroeconomic policy and poverty reduction. Retrieved on: 30 August 2022, from: https://www.imf.org/external/pubs/ft/exrp/macropol/eng/.
  28. Isham, J.; Woolcock, M.; Pritchett, L.; Busby, G. (2005). The varieties of resource experience: Natural resource export structures and the political economy of economic growth. World Bank Economic Review 19(2): 141–174. https://doi.org/10.1093/wber/lhi010.
  29. Lu, Z.; Gozgor, G.; Mahalik, M. K.; Padhan, H.; Yan, C. (2022). Welfare gains from international trade and renewable energy demand: Evidence from the OECD countries. Energy Economics 112. https://doi.org/10.1016/j.eneco.2022.106153.
  30. Maddala, G. S.; Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics 61(1): 631–652. https://doi.org/10.1111/1468-0084.0610s1631.
  31. Mara, E. R. (2021). Drivers of the shadow economy in European Union welfare states: A panel data analysis. Economic Analysis and Policy 72: 309–325. https://doi.org/10.1016/j.eap.2021.09.004.
  32. Muhanji, S.; Ojah, K.; Soumaré, I. (2019). How do natural resource endowment and institutional quality influence the nexus between external indebtedness and welfare in Africa? Economic Systems 43(1): 77–98. https://doi.org/10.1016/j.ecosys.2018.08.005.
  33. Murtazashvili, I.; Wooldridge, J. M. (2008). Fixed effects instrumental variables estimation in correlated random coefficient panel data models. Journal of Econometrics 142(1): 539–552. https://doi.org/10.1016/j.jeconom.2007.09.001.
  34. Myovella, G.; Karacuka, M.; Haucap, J. (2020). Digitalization and economic growth: A comparative analysis of sub-Saharan Africa and OECD economies. Telecommunications Policy 44(2). https://doi.org/10.1016/j.telpol.2019.101856.
  35. Nguyen, D. H.; Dang, V. D. (2020). Bank-specific determinants of loan growth in Vietnam: Evidence from the CAMELS approach. Journal of Asian Finance, Economics and Business 7(9): 179–189. https://doi.org/10.13106/JAFEB.2020.
  36. Nurvita, D.; Rohima, S.; Bashir, A.; Mardalena, M. (2022). The role of public spending on education, health, and economic growth toward human development index in the local economy. Sriwijaya International Journal of Dynamic Economics and Business 6(2): 197–210. https://doi.org/10.29259/sijdeb.v6i2.
  37. Okoyeuzu, C.; Kalu, E. U. (2022). Official development assistance to the West African Subregion: Do the trade war and economic policy uncertainties in the US and China Matter? Research in Globalization 4. Available at: https://doi.org/10.1016/j.resglo.2021.100070.
  38. Organisation for Economic Co-Operation and Development, OECD. (2015). Perspetivas económicas em África 2015 (Versão Condensada): Desenvolvimento territorial e inclusão espacial: Edition 2015 (Portuguese edition). OECD Publishing.
  39. Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics 22(2): 265–312. https://doi.org/10.1002/jae.951.
  40. Pesaran, M. H.; Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics 142: 50–93. https://doi.org/10.1016/j.jeconom.2007.05.010.
  41. Petria, N.; Capraru, B.; Ihnatov, I. (2015). Determinants of banks’ profitability: Evidence from EU 27 banking systems. Procedia Economics and Finance 20: 518–524. https://doi.org/10.1016/s2212-5671(15)00104-5.
  42. Quoc Trung, N. K. (2021). Determinants of bank performance in Vietnamese commercial banks: An application of the camels model. Cogent Business and Management 8(1). https://doi.org/10.1080/23311975.2021.1979443.
  43. Ramzi, K.; Asma, M.; Chebbi, A. (2017). Growth, fluctuations and macroeconomic policies: Evidence from Arab open economies. Economic Analysis and Policy 55: 132–146. https://doi.org/10.1016/j.eap.2017.04.007.
  44. Sakyi, D.; Bonuedi, I.; Opoku, E. O. (2018). Trade facilitation and social welfare in Africa. Journal of African Trade 5(1–2): 35. https://doi.org/10.1016/j.joat.2018.08.001.
  45. Shin, Y.; Snell, A. (2002). Mean group tests for stationarity in heterogeneous panels. Edinburgh School of Economics Discussion Paper Series 107.
  46. Su, L.; Yang, Z. (2015). QML estimation of dynamic panel data models with spatial errors. Journal of Econometrics 185(1): 230–258. https://doi.org/10.1016/j.jeconom.2014.11.002.
  47. Tabash, M. I.; Mesagan, E. P.; Farooq, U. (2022). Dynamic linkage between natural resources, economic complexity, and economic growth: Empirical evidence from Africa. Resources Policy 78. Available at: https://doi.org/10.1016/j.resourpol.2022.102865.
  48. UNCTAD. (2021). Facts and Figures | UNCTAD. United Nation Conference on Trade and Development. Retrieved on: 30 August 2022, from: https://unctad.org/press-material/facts-and-figures-7.
  49. UNDP. (2022). Sustainable Development Goals | United Nations Development Programme. UNDP. Retrieved on: 30 August 2022, from: https://www.undp.org/sustainable-development-goals.
  50. UNESCO. (2016). The future of scientific advice to the United Nations. UNESCO publishing.
  51. World Bank Group. (2019, November 25). Accelerating poverty reduction in Africa: In five charts. World Bank. Retrieved on: 30 August 2022, from: https://www.worldbank.org/en/region/afr/publication/accelerating-poverty-reduction-in-africa-in-five-charts.
Language: English
Page range: 18 - 41
Published on: Oct 19, 2023
In partnership with: Paradigm Publishing Services
Publication frequency: 1 issue per year

© 2023 Ayomide Oluwafunmisho Kuti, Taiwo Adebusuyi Aderogba, Ndubuisi Johnbosco Ezenwa, Rasheed Adegboyega Quadri, published by Sapientia Hungarian University of Transylvania
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.