May 2021

Labor-intensive focused industrial policy in Ethiopia: Potentials, latecomer’s advantage and binding constraints

This study deals with industrial policy, an issue that has been hotly debated in economic development. It argues that strategic and proactive industrial policy is a key to unlock the potential and wade through industrialization for low-income countries such as Ethiopia where market failures are pervasive. More specifically, it argues that industrial policy should be tailored to factors endowment structure. In the case...

Author(s): Desta Tesfaw  

May 2021

Do disaggregated manufacturing sectors matter in Nigeria’s economic growth: VECM approach?

The research used vector autoregressive (VAR) and the vector error correction mechanism (VECM) technique to see whether disaggregated manufacturing sectors had any effect on Nigeria's economic growth over the last 49 years (1970-2018). The productivity of the oil refining subsector is an effective tool for economic growth, according to empirical findings; the coefficient is positive and meaningful in the short run...

Author(s): Uche C.C. Nwogwugwu, Amaka G. Metu and Okezie A. Ihugba

May 2021

The effects of interest rate on economic growth: Further insights from the Gambia

The main objective of this paper is to examine the effects of interest rate on economic growth in Gambia over the period 1993 to 2017. The Vector E rror Correction Model (VECM) is used to check the relationships between the dependent variable (Gross Domestic Product) and independent variables (Real Effective Exchange Rate and Real Interest Rate), both in the short-run and long-run. Post estimation tests, including...

Author(s): Matarr Njie and Momodou Badjie