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dc.contributor.authorGameli Adika
dc.date.accessioned2023-11-01T10:23:23Z-
dc.date.available2023-11-01T10:23:23Z-
dc.date.issued2021
dc.identifier.isbn2632-5330
dc.identifier.urihttps://dlib.neu.edu.vn/handle/NEU/58557-
dc.descriptionRegional economic integration
dc.description.abstractPurpose – This paper aims to examine the role of economic integration and natural resources and foreign direct investment (FDI) complementarity in explaining economic growth in the Southern African Development Community (SADC). Design/methodology/approach – The study employed the ordinary least square-random effects and the generalized two-stage least square instrumental variables (IV) regression to examine the relationship between the variables. Findings – The authors find that regional economic integration and natural resource abundance are essential for promoting economic growth. The results further show a potential resource curse phenomenon, offset by the complementary effect of FDI in resource-rich countries. The findings are robust after conditioning for different measures of institutional quality. Practical implications – The findings suggest the need for deeper regional trade integration and international cooperation, prudent natural resource management and concerted effort toward economic diversification. Originality/value – Many studies have examined the determinants of economic growth in the Southern African Development Community (SADC). However, these studies did not incorporate or assess the potential of economic integration in the region. Moreover, studies that examined the growth effects of FDI did not assess the complementary role of the region’s natural resource endowment which potentially drives FDI inflows. This study fills these gaps and provides a robust analysis of economic growth drivers in the region.
dc.description.tableofcontents1. Introduction; 2. Review of empirical literature; 3. Methodology; 4. Empirical analysis; 5. Conclusion and policy recommendations
dc.format.extentKhổ 21 x 29.7
dc.language.isoen
dc.publisherKinh Tế Quốc Dân
dc.subjectRegional integration, Natural resources, Foreign direct investment, Economic growth, SADC
dc.titleRegional economic integration, natural resources and foreign direct investment in SADC
dc.typeJournal of Economics and Development
dc.identifier.barcode10-1108_JED-02-2021-0021
dc.relation.referenceAcemoglu, D. and Robinson, J. (2008), The Role of Institutions in Growth and Development, World Bank, Washington DC. Adeniyi, O.A., Omisakin, D., Olusegun, A., Egwaikhide, F. and Oyinlola, A. (2012), “Foreign direct investment, economic growth, and financial sector development in small open developing economies”, Economic Analysis and Policy, Vol. 42 No. 1, pp. 105-127. Adika, G. (2020a), “Economic growth dynamics between resource-rich and resource-poor countries in sub-Saharan Africa: the role of politics and institutions”, African Development Review, Vol. 32 No. 3, pp. 303-315. Adika, G. (2020b), “Sustaining economic growth in COMESA: challenges and prospects”, International Journal of Finance and Economics, Vol. 27 No. 1, pp. 1-11, doi: 10.1002/ijfe.2153. Ahmed, S. (2014), “FDI and Localized Productivity Spillovers: Evidence from Developing and Transitional Countries”, Job Market Paper, George Washington University. Alege, P.O. and Adeyemi, O. (2014), “Foreign direct investment and economic growth in ECOWAS: a system-GMM approach”, Covenant Journal of Business and Social Sciences, Vol. 5 No. 2, pp. 1-22. Alfaro, L., Chanda, A., Kalemli-Ozcan, S. and Sayek, S. (2006), “How does foreign direct investment promote economic growth? Exploring the effects of financial markets on linkages”, NBER Working Paper 12522, Cambridge, MA. Auty, R.M. (Ed.) (2001), Resource Abundance and Economic Development, Oxford University Press, Oxford. Bermejo Carbonell, J. and Werner, R.A. (2018), “Does foreign direct investment generate economic growth? A new empirical approach applied to Spain”, Economic Geography, Vol. 94 No. 4, pp. 425-456. Biyase, M. and Rooderick, S. (2017), “Determinants of growth in SADC countries: a fixed effect vector decomposition approach”, International Journal of Economics and Financial Issues, Vol. 7 No. 4, pp. 746-751. Bong, A. and Premaratne, G. (2018), “Regional integration and economic growth in Southeast Asia”, Global Business Review, Vol. 19 No. 6, pp. 1403-1415. Bose, T.K. and Bristy, J.F. (2017), “Are countries participating in regional integration performing better in growth and liberalization than non-participators? A study on European countries”, International Journal of Business and Management, Vol. 12 No. 2, pp. 171-198. Burnside, C. and Dollar, D. (2004), “Aid, policies, and growth: reply”, American Economic Review, Vol. 94 No. 3, pp. 781-784. Crespo-Cuaresma, J., Dimitz, M.A. and Ritzberger-Griinwald, D. (2017), “Growth effects of European integration: implications for EU enlargement”, in Paganetto, L. (Ed.), The Political Economy of the European Constitution, Routledge, London, pp. 75-89. Ding, N. and Field, B.C. (2005), “Natural resource abundance and economic growths”, Land Economics, Vol. 81 No. 4, pp. 496-502. JED 24,1 44Guillaumont, P. (2012), “Aid and African development”, in Aryeetey, E., Devarajan, S., Kanbur, R. and Kasekende, L. (Eds.), The Oxford Companion to the Economics of Africa, Oxford University Press. Havranek, T., Horvath, R. and Zeynalov, A. (2016), “Natural resources and economic growth: a metaanalysis”, World Development, Vol. 88, pp. 134-151. Henrekson, M., Torstensson, J. and Torstensson, R. (1997), “Growth effects of European integration”, European Economic Review, Vol. 41 No. 8, pp. 1537-1557. Im, K.S., Pesaran, M.H. and Shin, Y. (2003), “Testing for unit roots in heterogeneous panels”, Journal of Econometrics, Vol. 115 No. 1, pp. 53-74. Kamau, N.L. (2010), “The impact of regional integration on economic growth: empirical evidence from COMESA, EAC, and SADC trade blocs”, American Journal of Social and Management Sciences, Vol. 1 No. 2, pp. 150-163. Kangning, X. and Jian, W. (2006), “An empirical study of a linkage between natural resource abundance and economic development”, Economic Research Journal, Vol. 1, pp. 78-89. Lederman, D. and Maloney, W. (2002), “Open Questions about the Link between Natural Resources and Economic Growth: Sachs and Warner Revisited”, World Bank Working Paper, The World Bank, Washington, DC. Levin, A., Lin, C.F. and Chu, C.S.J. (2002), “Unit root tests in panel data: asymptotic and finite-sample properties”, Journal of Econometrics, Vol. 108 No. 1, pp. 1-24. Malikane, C. and Chitambara, P. (2017), “Foreign direct investment, democracy and economic growth in Southern Africa”, African Development Review, Vol. 29 No. 1, pp. 92-102. Mallik, G. (2008), “Foreign aid and economic growth: a cointegration analysis of the six poorest african countries”, Economic Analysis and Policy, Vol. 38 No. 2, pp. 251-260. Moyo, C.Z. and Khobai, H. (2018), “Trade openness and economic growth in SADC countries”, International Economics, Vol. 71 No. 4, pp. 417-436. Olamide, E.G. and Maredza, A. (2019), “A dynamic regression panel approach to the determinants of monetary policy and economic growth”, African Journal of Economic and Management Studies, Vol. 10 No. 3, pp. 385-399. Ozekhome, H.O. (2017), “Foreign aid, foreign direct investment, and economic growth in ecowas countries: are there diminishing returns in the aid-growth nexus?”, West African Journal of Monetary and Economic Integration, Vol. 17 No. 1, pp. 61-84. Pesaran, M.H. (2007), “A simple panel unit root test in the presence of cross-section dependence”, Journal of Applied Econometrics, Vol. 22 No. 2, pp. 265-312. Rahman, S.H., Khatri, S. and Brunner, H.P. (2012), Regional Integration and Economic Development in South Asia, Edward Elgar Publishing, Northampton, MA. Rebelo, S. (1991), “Long-run policy analysis and long-run growth”, Journal of Political Economy, Vol. 99 No. 3, pp. 500-521. Rehman, S.U. and Ahmad, H.K. (2016), “The impact of foreign capital inflows on economic growth: pooled mean group analysis for developing countries”, Pakistan Economic and Social Review, Vol. 54 No. 2, pp. 191-203. Sachs, J.D. and Warner, A.M. (1995), “Natural Resource Abundance and Economic Growth”, NBER Working Paper (w5398), NBER. Sachs, J.D. and Warner, A.M. (1997), “Fundamental sources of long-run growth”, The American Economic Review, Vol. 87 No. 2, pp. 184-188. Sadiq, A. and Ghani, E. (2007), South Asia’s Growth and Regional Integration, Macmillan India, Washington DC. Solow, R.M. (1956), “A contribution to the theory of economic growth”, Quarterly Journal of Economics, Vol. 70 No. 1, pp. 65-94. Economic growth in SADC 45Stijns, J.P.C. (2005), “Natural resource abundance and economic growth revisited”, Resources Policy, Vol. 30 No. 2, pp. 107-130. Swan, T.W. (1956), “Economic growth and capital accumulation”, Economic Record, Vol. 32 No. 63, pp. 334-361. Tumwebaze, H.K. and Ijjo, A.T. (2015), “Regional economic integration and economic growth in the COMESA region, 1980–2010”, African Development Review, Vol. 27 No. 1, pp. 67-77. Vanhoudt, P. (1999), “Did the European unification induce economic growth? In search of scale effects and persistent changes”, Weltwirtschaftliches Archive, Vol. 135 No. 2, pp. 193-220. Yiew, T.H. and Lau, E. (2018), “Does foreign aid contribute to or impeded economic growth?”, Journal of International Studies, Vol. 11 No. 3, pp. 21-30.
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02. Tạp chí (Tiếng Anh)

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    Thông tin siêu dữ liệu biểu ghi
    Trường DC Giá trịNgôn ngữ
    dc.contributor.authorGameli Adika
    dc.date.accessioned2023-11-01T10:23:23Z-
    dc.date.available2023-11-01T10:23:23Z-
    dc.date.issued2021
    dc.identifier.isbn2632-5330
    dc.identifier.urihttps://dlib.neu.edu.vn/handle/NEU/58557-
    dc.descriptionRegional economic integration
    dc.description.abstractPurpose – This paper aims to examine the role of economic integration and natural resources and foreign direct investment (FDI) complementarity in explaining economic growth in the Southern African Development Community (SADC). Design/methodology/approach – The study employed the ordinary least square-random effects and the generalized two-stage least square instrumental variables (IV) regression to examine the relationship between the variables. Findings – The authors find that regional economic integration and natural resource abundance are essential for promoting economic growth. The results further show a potential resource curse phenomenon, offset by the complementary effect of FDI in resource-rich countries. The findings are robust after conditioning for different measures of institutional quality. Practical implications – The findings suggest the need for deeper regional trade integration and international cooperation, prudent natural resource management and concerted effort toward economic diversification. Originality/value – Many studies have examined the determinants of economic growth in the Southern African Development Community (SADC). However, these studies did not incorporate or assess the potential of economic integration in the region. Moreover, studies that examined the growth effects of FDI did not assess the complementary role of the region’s natural resource endowment which potentially drives FDI inflows. This study fills these gaps and provides a robust analysis of economic growth drivers in the region.
    dc.description.tableofcontents1. Introduction; 2. Review of empirical literature; 3. Methodology; 4. Empirical analysis; 5. Conclusion and policy recommendations
    dc.format.extentKhổ 21 x 29.7
    dc.language.isoen
    dc.publisherKinh Tế Quốc Dân
    dc.subjectRegional integration, Natural resources, Foreign direct investment, Economic growth, SADC
    dc.titleRegional economic integration, natural resources and foreign direct investment in SADC
    dc.typeJournal of Economics and Development
    dc.identifier.barcode10-1108_JED-02-2021-0021
    dc.relation.referenceAcemoglu, D. and Robinson, J. (2008), The Role of Institutions in Growth and Development, World Bank, Washington DC. Adeniyi, O.A., Omisakin, D., Olusegun, A., Egwaikhide, F. and Oyinlola, A. (2012), “Foreign direct investment, economic growth, and financial sector development in small open developing economies”, Economic Analysis and Policy, Vol. 42 No. 1, pp. 105-127. Adika, G. (2020a), “Economic growth dynamics between resource-rich and resource-poor countries in sub-Saharan Africa: the role of politics and institutions”, African Development Review, Vol. 32 No. 3, pp. 303-315. Adika, G. (2020b), “Sustaining economic growth in COMESA: challenges and prospects”, International Journal of Finance and Economics, Vol. 27 No. 1, pp. 1-11, doi: 10.1002/ijfe.2153. Ahmed, S. (2014), “FDI and Localized Productivity Spillovers: Evidence from Developing and Transitional Countries”, Job Market Paper, George Washington University. Alege, P.O. and Adeyemi, O. (2014), “Foreign direct investment and economic growth in ECOWAS: a system-GMM approach”, Covenant Journal of Business and Social Sciences, Vol. 5 No. 2, pp. 1-22. Alfaro, L., Chanda, A., Kalemli-Ozcan, S. and Sayek, S. (2006), “How does foreign direct investment promote economic growth? Exploring the effects of financial markets on linkages”, NBER Working Paper 12522, Cambridge, MA. Auty, R.M. (Ed.) (2001), Resource Abundance and Economic Development, Oxford University Press, Oxford. Bermejo Carbonell, J. and Werner, R.A. (2018), “Does foreign direct investment generate economic growth? A new empirical approach applied to Spain”, Economic Geography, Vol. 94 No. 4, pp. 425-456. Biyase, M. and Rooderick, S. (2017), “Determinants of growth in SADC countries: a fixed effect vector decomposition approach”, International Journal of Economics and Financial Issues, Vol. 7 No. 4, pp. 746-751. Bong, A. and Premaratne, G. (2018), “Regional integration and economic growth in Southeast Asia”, Global Business Review, Vol. 19 No. 6, pp. 1403-1415. Bose, T.K. and Bristy, J.F. (2017), “Are countries participating in regional integration performing better in growth and liberalization than non-participators? A study on European countries”, International Journal of Business and Management, Vol. 12 No. 2, pp. 171-198. Burnside, C. and Dollar, D. (2004), “Aid, policies, and growth: reply”, American Economic Review, Vol. 94 No. 3, pp. 781-784. Crespo-Cuaresma, J., Dimitz, M.A. and Ritzberger-Griinwald, D. (2017), “Growth effects of European integration: implications for EU enlargement”, in Paganetto, L. (Ed.), The Political Economy of the European Constitution, Routledge, London, pp. 75-89. Ding, N. and Field, B.C. (2005), “Natural resource abundance and economic growths”, Land Economics, Vol. 81 No. 4, pp. 496-502. JED 24,1 44Guillaumont, P. (2012), “Aid and African development”, in Aryeetey, E., Devarajan, S., Kanbur, R. and Kasekende, L. (Eds.), The Oxford Companion to the Economics of Africa, Oxford University Press. Havranek, T., Horvath, R. and Zeynalov, A. (2016), “Natural resources and economic growth: a metaanalysis”, World Development, Vol. 88, pp. 134-151. Henrekson, M., Torstensson, J. and Torstensson, R. (1997), “Growth effects of European integration”, European Economic Review, Vol. 41 No. 8, pp. 1537-1557. Im, K.S., Pesaran, M.H. and Shin, Y. (2003), “Testing for unit roots in heterogeneous panels”, Journal of Econometrics, Vol. 115 No. 1, pp. 53-74. Kamau, N.L. (2010), “The impact of regional integration on economic growth: empirical evidence from COMESA, EAC, and SADC trade blocs”, American Journal of Social and Management Sciences, Vol. 1 No. 2, pp. 150-163. Kangning, X. and Jian, W. (2006), “An empirical study of a linkage between natural resource abundance and economic development”, Economic Research Journal, Vol. 1, pp. 78-89. Lederman, D. and Maloney, W. (2002), “Open Questions about the Link between Natural Resources and Economic Growth: Sachs and Warner Revisited”, World Bank Working Paper, The World Bank, Washington, DC. Levin, A., Lin, C.F. and Chu, C.S.J. (2002), “Unit root tests in panel data: asymptotic and finite-sample properties”, Journal of Econometrics, Vol. 108 No. 1, pp. 1-24. Malikane, C. and Chitambara, P. (2017), “Foreign direct investment, democracy and economic growth in Southern Africa”, African Development Review, Vol. 29 No. 1, pp. 92-102. Mallik, G. (2008), “Foreign aid and economic growth: a cointegration analysis of the six poorest african countries”, Economic Analysis and Policy, Vol. 38 No. 2, pp. 251-260. Moyo, C.Z. and Khobai, H. (2018), “Trade openness and economic growth in SADC countries”, International Economics, Vol. 71 No. 4, pp. 417-436. Olamide, E.G. and Maredza, A. (2019), “A dynamic regression panel approach to the determinants of monetary policy and economic growth”, African Journal of Economic and Management Studies, Vol. 10 No. 3, pp. 385-399. Ozekhome, H.O. (2017), “Foreign aid, foreign direct investment, and economic growth in ecowas countries: are there diminishing returns in the aid-growth nexus?”, West African Journal of Monetary and Economic Integration, Vol. 17 No. 1, pp. 61-84. Pesaran, M.H. (2007), “A simple panel unit root test in the presence of cross-section dependence”, Journal of Applied Econometrics, Vol. 22 No. 2, pp. 265-312. Rahman, S.H., Khatri, S. and Brunner, H.P. (2012), Regional Integration and Economic Development in South Asia, Edward Elgar Publishing, Northampton, MA. Rebelo, S. (1991), “Long-run policy analysis and long-run growth”, Journal of Political Economy, Vol. 99 No. 3, pp. 500-521. Rehman, S.U. and Ahmad, H.K. (2016), “The impact of foreign capital inflows on economic growth: pooled mean group analysis for developing countries”, Pakistan Economic and Social Review, Vol. 54 No. 2, pp. 191-203. Sachs, J.D. and Warner, A.M. (1995), “Natural Resource Abundance and Economic Growth”, NBER Working Paper (w5398), NBER. Sachs, J.D. and Warner, A.M. (1997), “Fundamental sources of long-run growth”, The American Economic Review, Vol. 87 No. 2, pp. 184-188. Sadiq, A. and Ghani, E. (2007), South Asia’s Growth and Regional Integration, Macmillan India, Washington DC. Solow, R.M. (1956), “A contribution to the theory of economic growth”, Quarterly Journal of Economics, Vol. 70 No. 1, pp. 65-94. Economic growth in SADC 45Stijns, J.P.C. (2005), “Natural resource abundance and economic growth revisited”, Resources Policy, Vol. 30 No. 2, pp. 107-130. Swan, T.W. (1956), “Economic growth and capital accumulation”, Economic Record, Vol. 32 No. 63, pp. 334-361. Tumwebaze, H.K. and Ijjo, A.T. (2015), “Regional economic integration and economic growth in the COMESA region, 1980–2010”, African Development Review, Vol. 27 No. 1, pp. 67-77. Vanhoudt, P. (1999), “Did the European unification induce economic growth? In search of scale effects and persistent changes”, Weltwirtschaftliches Archive, Vol. 135 No. 2, pp. 193-220. Yiew, T.H. and Lau, E. (2018), “Does foreign aid contribute to or impeded economic growth?”, Journal of International Studies, Vol. 11 No. 3, pp. 21-30.
    Bộ sưu tập
    		02. Tạp chí (Tiếng Anh)

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  • 10-1108_JED-02-2021-0021.pdf

    • Dung lượng : 190,84 kB

    • Định dạng : Adobe PDF

    • Views : 
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    • Xem trực tuyếnTải tài liệu
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