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Tytuł pozycji:

Threshold Effect of Raw Material Prices on Economic Growth of African Countries.

Tytuł:
Threshold Effect of Raw Material Prices on Economic Growth of African Countries.
Autorzy:
Honoré, Houngbedji Sèwanoudé
Temat:
PRICE increases
ECONOMIC expansion
RAW materials
PRICE indexes
ECONOMIC policy
Źródło:
Journal of International Commerce, Economics & Policy; Jun2021, Vol. 12 Issue 2, pN.PAG-N.PAG, 18p
Czasopismo naukowe
We study the nonlinear effects of raw material prices measured by that of cotton product on the economic growth of a sample of African countries for the period of 1991–2019. Using the procedure for determining endogenous thresholds (Hansen, 1999) [Threshold effects in non-dynamic panels: Estimation, testing, and inference. Journal of Econometrics, 93, 345–368], the study revealed that raw material prices positively affect economic growth when the prices reach a threshold above 96.1. These results indicate that to be effective, any economic policy measure aimed at accelerating the economic growth of these commodity-dependent countries must take into account the level of raw material price indices, the quality of governance, and the level of financial development. [ABSTRACT FROM AUTHOR]
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