This paper uses panel data of 42 sub-Saharan Africa countries from 2005 to 2015 to examine the effect of aid for trade (AfT) on export diversification. The average Hirschman-Herfindahl index measure of 0.77 indicates that the export basket of sub-Saharan African countries is very narrow. This is...

This paper uses panel data of 42 sub-Saharan Africa countries from 2005 to 2015 to examine the effect of aid for trade (AfT) on export diversification. The average Hirschman-Herfindahl index measure of 0.77 indicates that the export basket of sub-Saharan African countries is very narrow. This is...

Using firm-level data, this study explores the microeconomic factors affecting global value chain (GVC) participation in Zimbabwe. GVCs are important as a result of the fragmentation of global production across countries. As expected, firm size and credit financing are important determinants in...

Using firm-level data, this study explores the microeconomic factors affecting global value chain (GVC) participation in Zimbabwe. GVCs are important as a result of the fragmentation of global production across countries. As expected, firm size and credit financing are important determinants in...

Regional integration in Africa is deepening, and the existing regional groupings are making frantic efforts to remove barriers to trade. One way in which trade among countries can be promoted is through the establishment of free trade areas with member-states. However, regulatory quality that...

In explaining economic phenomena, economic analysis concentrates on selected influences and fixes the host of other factors under a ceteris paribus clause. This view, which goes back to Alfred Marshall (1842-1924), is developed in the first part of the book. Aggregation is viewed as a particular...

Life annuities provide a guaranteed income for the remainder of the recipient’s lifetime, and therefore, annuitization presents an important option when choosing an adequate investment strategy for the retirement ages. While there are numerous research articles studying annuities from a...

Even 50 years after Modigliani/Miller’s irrelevance theorem, the basic question of how firms choose their capital structure remains unclear. This survey paper aims at summarizing and discussing corresponding recent developments in empirical capital structure research, which, in our view, are...