Trade structure and growth: how does Africa fair against the world? Online publication date: Mon, 12-Oct-2020
by Sibusisiwe Mchani; Andrew Phiri
International Journal of Sustainable Economy (IJSE), Vol. 12, No. 2, 2020
Abstract: We present a comparative analysis on the trade structure-growth nexus using two panel samples representing the top 10 trading African economies and the top 10 global trading economies covering the period 1995-2017. The findings from the pooled mean group estimators show disparities in the diversification/concentration-economic growth relationship between the two samples. On one hand, both diversification and concentration are found to be beneficial for short-run growth in the African sample but insignificant for the global sample. On the other hand, export concentration is harmful to long-run growth for the African sample but beneficial for long-run growth in the global sample. In further applying panel causality tests we only observe significant causal relations between export diversification/concentration and economic growth for the global sample and yet none are observed for the African sample and the policy implications of our findings are discussed.
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