Purpose - The study extends the debate on finance versus institutions in the promotion of investment documented by Acemoglu and Johnson (2005), Ali (2013) and Asongu (2014). We assess the effects of various components of governance on private investment, notably: political, economic and...

Development economists have enjoined Africans to leverage on remittance as their main source of investment financing due to its constant and undisrupted inflows despite structural distortions and economic weaknesses compared to other sources of financial flows in recent time. This ignited the...

This paper explores the relationship between the ease of doing business, as one of the investment climate indicators, and foreign direct investment (FDI) inflows in Africa. It uses instrumental variable estimation and the control function approach to correct for possible endogeneity between FDI...

In this paper I argue that the manufacturing sector still has an important role to play in Africa's development. Despite failing to industrialize in the past, there may be a new window of opportunity. This is due to the convergence of what has been called 'brilliant' new technologies associated...

Economic agglomeration and industrial clusters have always been part of industrialization and economic development. Since the 1960s, industrial hubs have proliferated in Asia, driven by policies to foster economic catch-up and structural transformation. Industrial hubs are relatively new to...

Recent developments in policy initiatives as well as some current practical events have combined to put the spotlight on the issue of industrial embeddedness in sub-Saharan Africa. Though extant research documents, some stylized facts, as determinants of its manifestations of their relevance to...

This study uses nightlight time data and machine learning techniques to predict industrial development in Africa. The results provide the first evidence on how machine learning techniques and nightlight data can be used to predict economic development in places where subnational data are missing...

This paper estimates the association between innovation and employment growth among manufacturing firms in Africa. The paper uses a cross-sectional World Bank Enterprise Survey dataset in which innovation is categorised as product innovation and process innovation. Results from the pooled...

In this paper I argue that the manufacturing sector still has an important role to play in Africa's development. Despite failing to industrialize in the past, there may be a new window of opportunity. This is due to the convergence of what has been called "brilliant" new technologies associated...

The recent twin crises of the COVID-19 pandemic and the Russia-Ukraine war have caused global economic effects, with gross variation, across countries. Evidently, higher self-sufficient economies with more effective economic performances faired relatively better with these shocks. This calls for...