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Publications (22)
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– The case of Ghana
One essential condition of economic progress in any society is an ample supply of savings, which depends on the growth of real capital.Economists agree that higher investment rates will lead to higher growth. Thus, domestic savings is considered an important determinant of growth in developing...
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– Unity in diversity
This paper examines the national savings behaviour in the process of economic growth through a comparative analysis of countries in developing Asia from a historical perspective. Developing Asia provides an ideal laboratory for the study with considerable differences in the savings behaviour among...
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– Empirical evidence
This paper examines trends and determinants of gross domestic savings in Tanzania using data for the period 1990–2020. The autoregressive distributed lag approach is employed to empirically analyse the short-run and long-run relationships. There has been a fairly stable increase in the domestic...
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– Do sovereign wealth funds serve development?
Do sovereign wealth funds (SWFs) contribute to Africa’s development? This paper assesses the objectives of SWFs (fiscal stabilization, productive investment, intergenerational saving) and discusses alternatives. We argue that fiscal stabilization funds are often necessary, but entail considerable...
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The savings–growth nexus is widely acknowledged, both in policy and in the literature. But Kenya’s numerous policy initiatives to encourage savings mobilization are yet to yield the expected outcomes. This paper identifies the key drivers of domestic saving in Kenya, exploiting fintech as an...
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Capital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although most sub-Saharan Africa countries recognize the...
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This paper traces the development of fintech in sub-Saharan Africa, its evolution over time, and the unfolding benefits attained at each stage of its adoption and market evolution. From the onset, fintechs have revolutionized retail electronic payment systems—a revolution that has evolved into a...
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The population structure the world over is going through a demographic shift, and the elderly proportion is projected to increase with population growth. This change is a matter of concern for sub-Saharan African (SSA) countries, where the majority of the people are young and the rates of both...
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This paper employs data from 103 developing countries between 1981 and 2012 to examine the determinants of private savings in sub-Saharan Africa (SSA), with a focus on the effect of financial liberalization on private savings. It also analyses why the savings rate for SSA countries is lower than for...
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– Disentangling the roles of trend and cycle
Resource mobilization continues to be an important policy challenge for developing economies, raising questions as to what determines differences in saving behaviour across countries. Using a panel of 47 economies with at least 40 years of continuous time series data, we causally identify, using a...
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– The case of Brazil
Through rapid urbanization, Brazil—previously a country where most workers were in the agricultural sector—went through a strong process of structural transformation that lasted almost four decades until economic liberalization at the beginning of the 1990s. During the same period, income inequality...
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This paper evaluates structural change, inequality dynamics, and industrial policy in South Africa between 1960 and the present day. We find that South Africa experienced growth-enhancing structural transformation until the early 1970s, before entering a period of premature deindustrialization...
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– Structural transformation and inclusive growth in Thailand
Between 1981 and 2017, real gross domestic product in Thailand grew at an average annual rate of 5.7 per cent. Agricultural output grew more slowly than industry or services, and its gross domestic product share consequently declined. Industry’s gross domestic product share increased, and the share...
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The Bangladesh economy has undergone significant structural changes over the last four decades. The share of agriculture in GDP has declined, while the significance of industry and service sectors has increased. These structural changes have been associated with persistent challenges such as lack of...
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This study examines the structural transformation–inclusive growth nexus for Ghana. The data cover the post-independence period for Ghana and are phased into three periods: the post-independence period to the start of the economic recovery programme (ERP) and structural adjustment programme (SAP)...
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– A survey of structural transformation and inequality dynamics
This paper discusses the ‘developer’s dilemma’—a tension emerging from the fact that developing countries are simultaneously seeking structural transformation and broad-based growth to raise incomes of the poor. Simon Kuznets originally hypothesized that structural transformation may have a tendency...
Displaying 16 of 22 results