Determinants of Economic Growth in Africa
This volume is a collection of selected empirical studies on determinants of economic growth in Africa. Grouped into three parts, chapters examine the influence of financial sources and economic growth; sources of productivity growth; and prices, exchange
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Edited by
Almas Heshmati
Determinants of Economic Growth in Africa
Almas Heshmati Editor
Determinants of Economic Growth in Africa
Editor Almas Heshmati Department of Economics, Jönköping International Business School Jönköping University Jönköping, Sweden and Department of Economics Sogang University Seoul, Korea
ISBN 978-3-319-76492-4 ISBN 978-3-319-76493-1 (eBook) https://doi.org/10.1007/978-3-319-76493-1 Library of Congress Control Number: 2018933059 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover credit: Eshma/Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by the registered company Springer International Publishing AG part of Springer Nature The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Contents
1
Introduction to Determinants of Economic Growth in Africa and Summary of the Contributions 1 Almas Heshmati
Part I Financing Growth 2
The FDI and Economic Growth Controversy in Sub-Saharan Africa 17 Yemane Michael
3
Determinants of Foreign Direct Investment Inflows to Africa 55 Alemayehu Geda and Addis Yimer
4
Impact of Foreign Direct Investment on Economic Growth in Eastern Africa 95 Biratu Bekere and Mekonnen Bersisa
v
vi Contents
5
The Role of Remittances, FDI and Foreign Aid in Economic Growth in Low and Middle Income African Countries 125 Gutu Gutema
6
The Role of Financial Development and Institutional Quality in Economic Growth in Africa in the Era of Globalization 149 Kahsay Berhane
Part II Sources of Productivity Growth 7
The Determinants of the Level and Growth of Total Factor Productivity in Sub-Saharan Africa 199 Yemane Michael
8
Human Capital and Economic Growth in Developing Countries: Evidences from Low and Middle Income African Countries 237 Jonse
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