Threshold Effect of Raw Material Prices on Economic Growth of African Countries

IF 1.3 Q3 ECONOMICS

Journal of International Commerce Economics and Policy Pub Date : 2021-03-27 DOI:10.1142/S1793993321500095

Houngbedji Sèwanoude´ Honore´

引用次数: 3

Abstract

We study the nonlinear effects of raw material prices measured by that of cotton product on the economic growth of a sample of African countries for the period of 1991–2019. Using the procedure for determining endogenous thresholds (Hansen, 1999) [Threshold effects in non-dynamic panels: Estimation, testing, and inference. Journal of Econometrics, 93, 345–368], the study revealed that raw material prices positively affect economic growth when the prices reach a threshold above 96.1. These results indicate that to be effective, any economic policy measure aimed at accelerating the economic growth of these commodity-dependent countries must take into account the level of raw material price indices, the quality of governance, and the level of financial development.

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原材料价格对非洲国家经济增长的门槛效应

本文研究了以棉花产品价格衡量的原材料价格对1991-2019年非洲国家经济增长的非线性影响。使用确定内源性阈值的程序(Hansen, 1999)[非动态面板中的阈值效应:估计、测试和推断]。[j][计量经济学学报，93,345-368]，研究表明，当原材料价格达到96.1以上的阈值时，原材料价格对经济增长具有正向影响。这些结果表明，任何旨在加速这些依赖商品的国家的经济增长的经济政策措施要有效，必须考虑到原材料价格指数的水平、治理质量和金融发展水平。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of International Commerce Economics and Policy ECONOMICS-

CiteScore

1.50

自引率

0.00%

发文量

期刊介绍： Journal of International Commerce, Economics and Policy (JICEP) is a peer-reviewed journal that seeks to publish high-quality research papers that explore important dimensions of the global economic system (including trade, finance, investment and labor flows). JICEP is particularly interested in potentially influential research that is analytical or empirical but with heavy emphasis on international dimensions of economics, business and related public policy. Papers must aim to be thought-provoking and combine rigor with readability so as to be of interest to both researchers as well as policymakers. JICEP is not region-specific and especially welcomes research exploring the growing economic interdependence between countries and regions.