The Quality of the Recent High-Growth Episode in Sub-Saharan Africa

Martínez, M.L. García; Mlachila, Montfort

doi:10.2139/ssrn.2233755

Cited by 8 publications

(2 citation statements)

References 10 publications

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“…Vinod Thomas (2001) (Thomas, 2001) argues that in addition to the accumulation of material capital in the traditional sense impacting the quality-focused economic growth, the role of human capital input and natural capital input in economy advancement should also be considered. Martinez and Mlachila (2013) define quality-focused growth as strong, stable and sustainable growth when studying the quality and speed of economic growth. Mlachila et al (2017) regards quality-focused growth as high-growth, sustainable and pro-social growth.…”

Section: Quality-focused Economy Advancementmentioning

confidence: 99%

Analysis on the mediating effect and regulating impact of carbon finance on quality-focused economy advancement

Jiang

Niu

et al. 2023

Front. Environ. Sci.

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This article uses the entropy weight method to calculate China’s economic high-quality development index and carbon finance development index from 2000 to 2020. Additionally, it conducts empirical examinations to scrutinize impacts of carbon finance regarding quality-focused development of China’s economy through dynamic spatial models. The findings reveal that the advancement of carbon finance substantively promotes the quality-focused economy advancement through enhancing the overall factor productivity, thereby establishing a mediating effect. Concurrently, the allocation of resources in green fiscal expenditure assumes a moderating effect, subsequently amplifying the promoting effect of carbon finance regarding quality-focused economy advancement. Consequently, it is recommended that a robust financial milieu be established, energy efficiency be enhanced, scientific and technological progress be bolstered, total factor productivity be further augmented, and the expenditure on green conservation be escalated. These measures will effectively stimulate the quality-focused development of China’s economy.

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Section: Quality-focused Economy Advancementmentioning

confidence: 99%

Analysis on the mediating effect and regulating impact of carbon finance on quality-focused economy advancement

Jiang

Niu

et al. 2023

Front. Environ. Sci.

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“…Good quality growth can be defined as growth that is stable and broad based and that leads to socially desirable outcomes, such as improved standards of living, especially lower poverty (Martinez and Mlachila, 2011). While real GDP growth in the WAEMU has picked up in the past 15 years, it has been close to 2 percentage points per year lower than in high-growth non-oil exporting SSA countries.…”

Section: A Background: Total Factor Productivitymentioning

confidence: 99%

West African Economic and Monetary Union: Staff Report on Common Policies of Member Countriesï¿½Regional Consultation on Economic Issues and Policiesï¿½Staff Report, Public Information Notice Informational Annex, Staff Statement, Executive Directorï¿½s Statement

Fund¹

2011

IMF Staff Country Reports

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Recent economic developments:The WAEMU has weathered the global financial crisis relatively well. A recovery has been supported by broadly appropriate monetary and fiscal policies, a revival in the region's main trading partners, and a pick-up in growth in Guinea-Bissau and Togo. Economic outlook and risks:The economic recovery is expected to continue in the baseline scenario, under the assumption that the crisis in Côte d'Ivoire comes soon to a peaceful end. But risks are considerable. In particular, the crisis in Côte d'Ivoire, if not resolved soon, risks having significant negative spillover effects, reducing growth prospects and increasing human tragedy. A more sluggish global economy could also slow the recovery by dampening exports, remittances, and capital inflows. Globally rising food and fuel prices, exacerbated by regional trade disruptions stemming from the crisis in Côte d'Ivoire, pose upside inflationary risks. Key policy priorities:Staff and the authorities agreed that achieving higher growth and reducing vulnerabilities requires a stable political and macroeconomic environment and a faster pace of reforms to address key structural constraints, including infrastructure bottlenecks. Macroeconomic policies:Over the medium term fiscal policy must balance aggregate demand effects, investment needs to overcome severe infrastructure deficiencies, and debt sustainability considerations. The central bank should stand ready to tighten monetary policy, if rising food and fuel prices were to spill over into core inflation and inflation expectations. Laudable progress in implementing a new monetary policy framework needs to be supported by additional analytical underpinnings and a clear and transparent communication strategy.Competitiveness: Fostering competitiveness is critical, in particular non-price competitiveness, including better infrastructure, quality of institutions, and trade integration. The past year's weakness of the euro-to which the CFA franc is pegged-has helped to counteract some of the previous erosion of price competitiveness.Financial sector: Notwithstanding progress made to date, the pace of reform needs to be accelerated. The 2009 slowdown of economic activity has further weakened asset quality. To strengthen supervision, more timely collection of financial soundness indicators and stepped-up financial stability analysis will be important. The sector's contribution to financing growth should be strengthened through further institutional reforms, including those that facilitate the use of collateral, information sharing, and maturity transformation.

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Can Service Be a Growth Escalator in Low-Income Countries?

Ghani¹,

O’Connell²

2014

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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The Quality of the Recent High-Growth Episode in Sub-Saharan Africa

Cited by 8 publications

References 10 publications

Analysis on the mediating effect and regulating impact of carbon finance on quality-focused economy advancement

Analysis on the mediating effect and regulating impact of carbon finance on quality-focused economy advancement

West African Economic and Monetary Union: Staff Report on Common Policies of Member Countriesï¿½Regional Consultation on Economic Issues and Policiesï¿½Staff Report, Public Information Notice Informational Annex, Staff Statement, Executive Directorï¿½s Statement

Can Service Be a Growth Escalator in Low-Income Countries?

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