African Development Review-Revue Africaine De Developpement最新文献_第2页

Appreciation to Article Reviewers

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-12-03 DOI: 10.1111/1467-8268.12788

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Appreciation to Article Reviewers

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-11-29 DOI: 10.1111/1467-8268.12787

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Russia–Ukraine war and the cost of borrowing in the West African Economic and Monetary Union sovereign debt market

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-10-29 DOI: 10.1111/1467-8268.12780

Seydou Coulibaly

{"title":"Russia–Ukraine war and the cost of borrowing in the West African Economic and Monetary Union sovereign debt market","authors":"Seydou Coulibaly","doi":"10.1111/1467-8268.12780","DOIUrl":"https://doi.org/10.1111/1467-8268.12780","url":null,"abstract":"This paper contributes to the emerging literature on the economic impacts of the Russia–Ukraine war by estimating the effects of that war on FCFA-denominated sovereign bond yields and spreads for the West African Economic and Monetary Union (WAEMU) countries. Using ordinary least squares regressions on monthly panel data from January 2020 to December 2022, we found three key results. First, the Russia–Ukraine war significantly increased long-term government bonds but had no impact on short-term sovereign bond yields. Second, the Russia–Ukraine war raised sovereign bond spreads in WAEMU countries. These results suggest that WAEMU countries may consider reducing sovereign long-term bond issuances and exploiting alternative financing sources, such as concessional financing, until the war and its corollary of global economic and financial imbalances are resolved. Finally, we found that the Central Bank of West African States's policy rate hikes increase governments' borrowing costs. Given this impact, we recommend complementing monetary policy with nonmonetary and fiscal policy measures to ease inflationary pressure from the Russia–Ukraine war. This approach may help mitigate the upward pressure driven by monetary policy tightening on sovereign borrowing costs in the WAEMU government securities markets.","PeriodicalId":47363,"journal":{"name":"African Development Review-Revue Africaine De Developpement","volume":"36 S1","pages":"S108-S120"},"PeriodicalIF":3.1,"publicationDate":"2024-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143253720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Income inequality thresholds that should be avoided for governance to promote economic growth with evidence from Africa

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-10-25 DOI: 10.1111/1467-8268.12785

Johannes Tabi Atemnkeng, Laura Senke Ngeh, Nkwetta Ajong Aquilas, Afuge Ramsy Akame

{"title":"Income inequality thresholds that should be avoided for governance to promote economic growth with evidence from Africa","authors":"Johannes Tabi Atemnkeng, Laura Senke Ngeh, Nkwetta Ajong Aquilas, Afuge Ramsy Akame","doi":"10.1111/1467-8268.12785","DOIUrl":"https://doi.org/10.1111/1467-8268.12785","url":null,"abstract":"This paper examines the role of inequality on the link between governance and economic growth in 44 African countries with data running from 2008 to 2018. Using a system GMM and the generalized least square (GLS) estimators, we establish that the effects of governance on growth are rightly conditioned by inequality. The GMM and GLS estimates portray positive effects of inequality on growth, but only the GMM estimates are significant. For both estimators, the effect of institutions on economic growth is positive and significant. However, inequality retards growth when embedded in selected institutions, which implies a substitution relationship between institutions and inequality on growth. The turning point beyond which inequality begins to contribute negatively to economic growth ranges between 34% and 49% based on the GMM estimates or 40.15% and 44.5% for the GLS analysis depending on the institutional indicator used. Therefore, institutions can only be effective in economic development if income inequality levels of not less than 0.34 and not more than 0.49 are maintained to ensure that inequality does not negate growth. Policy makers of African countries should ensure better income distribution alongside good institutions to achieve sustainable economic growth in the region.","PeriodicalId":47363,"journal":{"name":"African Development Review-Revue Africaine De Developpement","volume":"36 4","pages":"594-607"},"PeriodicalIF":3.1,"publicationDate":"2024-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143119126","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Macroprudential regulation, bank stability, and the credit market in Kenya

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-10-10 DOI: 10.1111/1467-8268.12782

Samuel Kiemo, Anne Kamau, Irene W. Rugiri, Camilla C. Tallam

{"title":"Macroprudential regulation, bank stability, and the credit market in Kenya","authors":"Samuel Kiemo, Anne Kamau, Irene W. Rugiri, Camilla C. Tallam","doi":"10.1111/1467-8268.12782","DOIUrl":"https://doi.org/10.1111/1467-8268.12782","url":null,"abstract":"This paper examines the effectiveness of macroprudential regulations in promoting bank stability and the credit market in the Kenyan financial system. The study applies a panel estimation methodology on bank-level and non-bank credit data for the period 2001–2021 to achieve its objectives. The study reveals three key findings. First, overall, the banking sector remains resilient as evidenced by the S-score stability measure. Second, liquidity-related, capital-based, and asset-side macroprudential regulations lower bank stability. Third, there is evidence of dampened bank credit and domestic leakage associated with macroprudential regulations. The paper concludes that macroprudential regulations are ineffective in promoting stability and the credit market. This paper recommends policymakers to use caution when implementing macroprudential conditions. This is to balance out the policy objectives of banking sector stability and access to finance. Additionally, policy makers should be mindful when implementing macroprudential measures that may cause banks to adjust their behavior, leading to domestic credit leakages and cross-border spillovers.","PeriodicalId":47363,"journal":{"name":"African Development Review-Revue Africaine De Developpement","volume":"36 4","pages":"581-593"},"PeriodicalIF":3.1,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143114077","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

From food inflation to cash transfers and food subsidies: Assessing impacts on households' consumption and welfare in Togo

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-10-10 DOI: 10.1111/1467-8268.12778

Nimonka Bayale, Tomgouani Lanie, Eric Allara Ngaba, Madow Nagou, Kokou Abah

{"title":"From food inflation to cash transfers and food subsidies: Assessing impacts on households' consumption and welfare in Togo","authors":"Nimonka Bayale, Tomgouani Lanie, Eric Allara Ngaba, Madow Nagou, Kokou Abah","doi":"10.1111/1467-8268.12778","DOIUrl":"https://doi.org/10.1111/1467-8268.12778","url":null,"abstract":"This paper assesses the impacts of food price increase on households' consumption and welfare in Togo and the efficiency of policy measures, such as cash transfers and food subsidies, implemented by the Togolese government to dampen the adverse impacts. A computable general equilibrium (CGE) model is used given its appropriateness in handling economy-wide and the welfare effect of specific policies. Simulation results show that an increase in food prices has adversely affected the consumption and welfare of all categories of households. The most affected households are self-employed in the agriculture and other sectors, seasonal workers, trainees, and housekeepers. However, the study reveals that these adverse effects are mitigated by the government's policy responses, notably through cash transfers and food subsidies. Furthermore, the cash transfer policy seems to have a slightly greater positive effect on household consumption and welfare in response to rising food prices in Togo compared to food subsidies. This indicates that cash transfers mitigated the negative impact of food price increases on the population more effectively than food subsidies policies. These findings offer valuable insights for policymakers in optimizing public interventions and striking a balance between various policy options to address hunger and malnutrition within targeted households in Togo.","PeriodicalId":47363,"journal":{"name":"African Development Review-Revue Africaine De Developpement","volume":"36 4","pages":"621-632"},"PeriodicalIF":3.1,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143114076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Productivity costs of the green energy transition in Africa

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-10-08 DOI: 10.1111/1467-8268.12784

Ligane Sene, El Hadji Fall

{"title":"Productivity costs of the green energy transition in Africa","authors":"Ligane Sene, El Hadji Fall","doi":"10.1111/1467-8268.12784","DOIUrl":"https://doi.org/10.1111/1467-8268.12784","url":null,"abstract":"Transitioning to renewable energy generates tangible benefits in terms of the environment and emissions of greenhouse gases. However, the economic productivity costs of switching to clean energy cannot be overlooked, in addition to the large resource requirements, potential disruption in energy systems, risks of job losses, and emergence of new inequalities. Therefore, it is crucial to identify and quantify synergies and trade-offs. This paper investigates the productivity cost of abandoning the use of fossil fuels in African countries, using econometric techniques applied to panel data, including the fully modified ordinary least square. The paper finds that, while renewable energy supply is beneficial to increase total factor productivity, in general, a shift toward a higher share of renewables in the power mix is not without productivity cost on the economy. The analysis accounts for other sources of productivity, such as human capital and the diffusion of embodied technology imported from abroad into local markets. The data also reveal that the energy transition could have heterogeneous effects depending on the regions' and countries' characteristics and stages of transition.","PeriodicalId":47363,"journal":{"name":"African Development Review-Revue Africaine De Developpement","volume":"36 4","pages":"608-620"},"PeriodicalIF":3.1,"publicationDate":"2024-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143113194","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Macroeconomic adjustments to Russia–Ukraine war-induced energy prices shocks in sub-Saharan Africa: Effects based on countries' resource status

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-10-03 DOI: 10.1111/1467-8268.12783

Shakirudeen Taiwo, Josine Uwilingiye, Kwame Osei-Assibey

{"title":"Macroeconomic adjustments to Russia–Ukraine war-induced energy prices shocks in sub-Saharan Africa: Effects based on countries' resource status","authors":"Shakirudeen Taiwo, Josine Uwilingiye, Kwame Osei-Assibey","doi":"10.1111/1467-8268.12783","DOIUrl":"https://doi.org/10.1111/1467-8268.12783","url":null,"abstract":"The Russia–Ukraine crisis has significantly disrupted global supply chains, leading to sharp oil and natural gas price increases. These energy price surges have impacted productivity in sub-Saharan Africa (SSA), with potential long-term effects on purchasing power and economic growth. Additionally, the crisis has highlighted varying impacts of commodity price shocks across the region due to country-specific conditions, which prompted this study to examine how energy price shocks influence macroeconomic performance in SSA based on countries' resource status. This study utilised a quarterly dataset of macroeconomic variables—real gross domestic product (GDP) (rGDP), inflation and exchange rates—across 21 SSA countries, along with crude oil and natural gas prices. The Bootstrap Granger Causality test confirmed a long-run relationship between energy prices and these macroeconomic variables. Furthermore, the Panel Structural Vector Autoregressive model demonstrated varying spillover effects based on countries' resource status. The results indicate that resource status significantly affects the magnitude and nature of energy price shocks on macroeconomic variables. Specifically, oil-rich nations experience the most intense effects, followed by other resource-endowed countries. These findings offer a nuanced understanding of the complex dynamics triggered by the Russia–Ukraine crisis in the SSA region, highlighting the critical role of resource endowment in shaping economic resilience.","PeriodicalId":47363,"journal":{"name":"African Development Review-Revue Africaine De Developpement","volume":"36 S1","pages":"S59-S74"},"PeriodicalIF":3.1,"publicationDate":"2024-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8268.12783","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143248351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

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Issue Information - Author Guidelines 发行信息 - 作者指南

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-09-27 DOI: 10.1111/1467-8268.12692

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Appreciation to article reviewers 感谢文章审稿人

IF 3.1 2区经济学

African Development Review-Revue Africaine De Developpement Pub Date : 2024-09-27 DOI: 10.1111/1467-8268.12779

引用次数: 0