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Title: Economic growth, trade and investment in sub-Saharan Africa : nexus and determinants
Author: Sisay, Ambachew Mekonnen
Awarding Body: University of Kent
Current Institution: University of Kent
Date of Award: 2011
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The original contribution of this thesis is to provide some empirical evidence to the debate on the investment, trade and growth connections. The thesis as a whole is designed to flow in a deductive manner. It starts by investigating the growth process and the contribution of trade to Sub-Saharan Africa (SSA) economic growth. It is· shown that exports and imports have a significant and positive influence on the growth process. Moving on, it identifies the determinants of the trade performance of SSA benchmarked to a bloc of some well-performing South-East Asian (SEA) economies. The investigation identifies supply side factors, particularly low and declining investment, as the critical constraints of trade in SSA. Then, it focuses on the investment-trade-growth connections and comes out with evidence for a full cycle of positive impact flowing from trade (export-to-import)-to-investment-to-growth and back to-trade (export). However, manufacturing in SSA is not found trade enhancing. Hence, policy to support a manufacturing led-re-industrialization is the proposed future path for SSA growth, involving the promotion of private investment. The thesis, lastly, identifies the main constraints of private investment based on a case study of Ethiopia and recommends a future investment policy. Key elements are enhancing domestic demand and the return to investment, encouraging trade liberalization, improving infrastructure and maintaining macroeconomic and political stability. A similar private investment story can be told about other SSA economies. Furthermore, the operations of the public sector and other institutions will need new thinking.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available