The Impact of Aid and Public Investment Volatility on Economic Growth in Sub-Saharan Africa

被引：23
|
作者：
Museru, Malimu [1 ]
Toerien, Francois [1 ]
Gossel, Sean [1 ]
机构：
[1] Univ Cape Town, ZA-7700 Rondebosch, South Africa
来源：
WORLD DEVELOPMENT | 2014年 / 57卷
关键词：
aid; economic growth; public investment; Sub-Saharan Africa; volatility; FOREIGN-AID; MARKETS; TIME;
D O I：
10.1016/j.worlddev.2013.12.001
中图分类号：
F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];
学科分类号：
0201 ; 020105 ; 03 ; 0303 ;
摘要：
This study investigates the effects of aid inflows and the volatility of public investment on economic growth in 26 Sub-Saharan African countries over the period from 1992 to 2011. Three volatility variables comprising aid, government revenue, and public investment are incorporated into an aid-growth model to test for their effect on economic growth. Using the Generalized Method of Moments (GMM) technique and averaged data for five four-year sub-periods, we show that although foreign aid has a positive impact on growth once potential endogeneity has been accounted for, aid effectiveness may have been eroded by volatility in public investment. (C) 2013 Elsevier Ltd. All rights reserved.
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页码：138 / 147
页数：10
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