This paper investigated the effect of terms of trade growth and its volatility on economic growth in Sub-Saharan Africa. I employed dynamic panel data models of difference and system GMM that could account biases associated with endogeneity of explanatory variables and problems induced by...

The costs of import substitution (IS) as a strategy for industrialization, which was deemed synonymous with economic development by many development economists of the fifties and sixties, were shown to be substantial in the influential and nuanced studies of the seventies and eighties under the...

The costs of import substitution (IS) as a strategy for industrialization, which was deemed synonymous with economic development by many development economists of the fifties and sixties, were shown to be substantial in the influential and nuanced studies of the seventies and eighties under the...

The costs of import substitution (IS) as a strategy for industrialization, which was deemed synonymous with economic development by many development economists of the fifties and sixties, were shown to be substantial in the influential and nuanced studies of the seventies and eighties under the...

This paper examines the cross-country income and welfare consequences of trade-induced human capital (dis-)accumulation. The model is based on heterogeneous workers who make educational decisions in the presence of complete markets. When such heterogeneous workers invest in schooling, high type...

We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its...

This study examines the nexus between foreign trade and economic growth in Nigeria using quarterly time-series data for 1981Q1 through 2010Q4. In order to fully account for feedbacks, a vector autoregressive model is utilized. The results show that there is a stable, long- run relationship...

Purpose: Nigeria is currently in recession, a situation described as induced by decreases in oil output and export, caused by the bombings of oil pipelines in its Niger Delta region, and the unanticipated decline in its value of exports and currency, resulting from the decline in oil prices....

Purpose - This paper attempts to analyse the empirical link between economic growth and the external shocks in a small open developing economy, Turkey, focusing on the nonlinearity between the dynamics for the 1992-2011 period. Design/methodology/approach - This paper examines the effects of...

Purpose: Nigeria is currently in recession, a situation described as induced by decreases in oil output and export, caused by the bombings of oil pipelines in its Niger Delta region, and the unanticipated decline in its value of exports and currency, resulting from the decline in oil prices....