July 2022

Analysis of multi-country manufacturing value-added (MVA) using a dynamic panel model

Industrialization is required to increase an economy's competitiveness and living standards, as well as to catch up to more developed economies; while low and lower-middle-income countries' average performance over the last five decades has been disappointing at 6.7 and 17.4%, respectively. Fabrication exports account for 37.1% of total low-middle-income average exports and 9.6% of low income. As a result, this...

Author(s): Alemnew Mekonnen Wolde

August 2022

The impact of import substitution policy on trade and exchange rate: An empirical analysis from Ghana

This research examines the impact of import substitution policy on the trade balance and exchange rate in Ghana by employing the macroeconomic variables – inflation rate and interest rate. For a robustness check, the policy is analyzed using the augmented trade balance and magnitude of import substitution approaches. The study utilizes quarterly data from 1990Q1 to 2021Q1 and applies the Johansen cointegration...

Author(s): Agyapong Joseph and Anyars Suleman Ibrahim

July 2022

The nexus between savings and investment in the East African Community: Co-integration and error correction models

This study examines the effect of savings on investment in East African countries in the face of the recent reduction in trade barriers and other regional integration policies. The findings reveal that among all the regions in Africa, East Africa had the lowest household saving for the period 2000-2016 and only Burundi and Kenya savings and investment rates were co-integrated. The policy implication is that the domestic...

Author(s): Jalloh Mamoud Abdul