We use a previously unexploited consensus survey data set to compare accuracy, unbiasedness and efficiency of Current Account growth forecasts between two panels of 25 developed and 18 developing countries following the methodologies in the existing literature. Forecast errors are bigger for the...

In this paper, we examine the various links among external debt, trade openness and current account in Sub-Saharan Africa, utilizing an approach that highlights current account from the perspective of saving and investment. We explore whether external debt aids the subsequent adjustment process...

The growing interdependency among East Asian countries means that there is concern not only on the way their macroeconomic variables are linked across borders, but also on the way shocks are transmitted as a consequence. This paper investigates the effect of macroeconomic linkages on...

This study strengthens the frontiers of research on the drivers of dollarization in emerging economies by exploring the case of Ghana using the autoregressive distributed lag modelling framework. The data for the study spanned from January 2002 to March 2016. The evidence suggests that...

The aim of this study is to assess the contribution of the international business sector (IBS) to the development of the national economy. A new index has been developed, which is expressed as a primary income share and makes it possible to analyze IBS structure both by the primary income from...

Devaluation of domestic currency is traditionally believed to foster a country’s trade balance. Innumerable papers have attempted to scrutinize the exchange rate-trade balance nexus in many countries across the globe, yet their conclusions diverge as they utilize different data, time frames,...

The positive association between trade openness and income has been debated over years due to serious estimation flaws prevailing in the cross-country empirical trade literature. The present paper contributes to this debate by re-examining the long-run relationship between trade openness and...

Developing countries, of which Ghana is no exception have actively engaged in trade openness after independence, yet, their economic growth remains low and this calls for urgent attention to address the situation. This study therefore examines the impact of trade openness on economic growth of...

This paper attempts a re-examination of the relationship between the output volatility and economic growth using an annual data set for select 67 countries for the period 1978 to 2017 spanning over 40 years. Towards this objective cross section and panel, regressions are estimated for different...

Using data covering the period from 1983 to 2019, we apply the autoregressive distributed lag (ARDL) bound testing approach to investigate whether trade openness has spurred economic growth in Uganda. The extant literature shows that trade openness increases economic growth, but this empirical...