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Articles 1 - 4 of 4
Full-Text Articles in Social and Behavioral Sciences
Oil Prices And African Stock Markets Co-Movement: A Time And Frequency Analysis, Grakolet Arnold Zamereith Gourène, Pierre Mendy
Oil Prices And African Stock Markets Co-Movement: A Time And Frequency Analysis, Grakolet Arnold Zamereith Gourène, Pierre Mendy
Journal of African Trade
This paper examines the co-movement between OPEC (Organization of Petroleum Exporting Countries) oil prices and the six largest African stock markets. We used wavelet coherence to analyze the evolution of this relationship both in time and by frequency. Our results show that the co-movement between African stock markets and oil prices is relatively low, with the exception of emerging stock markets such as South Africa and Egypt. For most of the African stock markets, the co-movement takes place over large time scales and both during and after the U.S. financial crisis. At small scales, African stock markets could represent a …
Trade Dependence, Liberalization, And Exports Diversification In Developing Countries☆, Patrick N. Osakwe, Amelia U. Santos-Paulino, Berna Dogan
Trade Dependence, Liberalization, And Exports Diversification In Developing Countries☆, Patrick N. Osakwe, Amelia U. Santos-Paulino, Berna Dogan
Journal of African Trade
This paper explores the relationship between trade, trade liberalization, and exports diversification in developing and Sub-Saharan African (SSA) countries. The non-parametric analyses indicate that developing countries that are more open to trade (based on trade intensity) tend to have more diversified exports structures than those that are classified as less open. However, for SSA countries the non-parametric test shows that countries that are more open to trade have less diversified exports structures. Regarding the parametric analysis, the findings provide further evidence that trade liberalization, in the form of lower tariffs, contributes to exports diversification in developing countries, and the results …
How Well Does Observable Trade Data Measure Trade Friction Costs? Evidence From Member Countries Within The Economic Community Of West African States (Ecowas), Festus Ebo Turkson
How Well Does Observable Trade Data Measure Trade Friction Costs? Evidence From Member Countries Within The Economic Community Of West African States (Ecowas), Festus Ebo Turkson
Journal of African Trade
This paper is an empirical application of the micro-founded measure of trade costs by Head and Mayer (2004) and Novy (2013). The derived micro-founded measure, consistent with the Ricardian and heterogeneous firm's models of trade, captures all trade costs components that hitherto have been impossible to include in the gravity framework because of severe data limitations and the impracticability of measuring some of the trade cost components. Based on bilateral trade and production data from the Trade, Production, and Protection database by Nicita and Olarreaga (2007) over the period 1980–2003, the micro-founded estimate of relative bilateral trade cost measure computed …
Foreign Direct Investment, Productivity And The Technology Gap In African Economies, Christopher Malikane, Prosper Chitambara
Foreign Direct Investment, Productivity And The Technology Gap In African Economies, Christopher Malikane, Prosper Chitambara
Journal of African Trade
This paper investigates the impact of foreign direct investment on total factor productivity conditional on relative backwardness in a panel of 45 African countries over the period 1980–2012. We use two measures of relative backwardness, namely: the distance from technological frontier and the income gap. We apply the fixed-effects and two-step system GMM methods. We find a generally positive but weak effect of FDI on productivity growth. Meanwhile, the results do not support the convergence theory of Findlay (1978) and Wang and Blomstrom (1992), that relative backwardness would result in higher productivity growth via the adoption of foreign technologies.