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This study examines the relative effects of the different types of international financial flows on economic performance in Kenya both in the long- and short-runs using the autoregressive distributed lag model (ARDL) bounds approach and data for the period 1970 to 2017. This is against the...
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Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this...
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Estimating the impact of HIV/AIDS epidemic on economic growth is challenging because of endogeneity concerns. In this … paper, we use novel data on male circumcision and distance from the first HIV outbreak as instrumental variables for the HIV/AIDS … epidemic in 241 regions across 25 countries in sub-Saharan Africa during 2003-12. Our main finding shows that the impact of HIV/AIDS …
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