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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Openness, Capital Accumulation and Economic Growth: The Evidence from Sub-Saharan Africa
Author:Akano, OlasupoISNI
Year:2000
Periodical:Eastern Africa Social Science Research Review (ISSN 1027-1775)
Volume:16
Issue:2
Period:June
Pages:25-47
Language:English
Notes:biblio. refs.
Geographic terms:Subsaharan Africa
Africa
Subjects:capital formation
economic development
Economics and Trade
Economics, Commerce
Free trade
Abstract:Relative to most of their Asian counterparts, sub-Saharan African economies have generally performed poorly in meeting their growth objectives since the 1960s. Using individual country time series and panel regressions, the author investigates the role of the growth of capital stock per worker and openness in the economic growth experience of eleven sub-Saharan African countries over the 1965-1990 period. The openness variable made a statistically significant positive contribution to the growth experience of the countries studied. Evidence from the literature appears to support the contention that there is a positive relationship between openness and growth. However, contrary to theoretical expectation, the study found a statistically significant negative correlation between economic growth and the growth of capital-labour ratio. Bibliogr., notes, sum.
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