The impact of capital goods prices on Africa's economic performance

Over the last four decades, the relative price of investment goods in Africa has gone through a relatively large decrease, resulting in a steady convergence towards the levels recorded in high-income countries. This fact begs the following question: To what extent might the relative price decrease be a driving force behind the economic performance of this continent? The paper addresses this question from the perspective of a panel ARDL approach, using the Solow growth model—augmented with barriers to investment—as a framework. The results reveal that a one-unit decrease in the relative price of investment leads, in the long term, to a 4% increase in per capita GDP, an increase that could be neutralised by a 6.5 percentage points decrease in the savings rate. The findings contribute to the case for a policy mix that combines policies geared towards reducing investment distortions with those promoting savings mobilisation.     

“卡脖子”关键核心技术壁垒的关键特征、运行机制与应对策略

基于1997—2022年美国对华实体清单信息，系统分析“卡脖子”关键核心技术壁垒的关键特征，并依据上述外在特征构建关键核心技术壁垒运行的三维动态模型探究其底层运行机制。研究发现，美国设置的对华关键核心技术壁垒具有对象多元、方向特定、过程全流程、政策目的多重、配套政策多维、壁垒力量多边等六大特征，相应地，其运行遵循瞄准重点产业链的全流程打压、多重目标下多维政策组合遏制与多边联合诱发关键核心技术壁垒升级等三大机制。最终依据上述运行机制，有针对性地提出加强关键核心技术壁垒研究与建立“卡脖子”风险排查预警机制，健全以产业领军企业主导、政府多维政策支撑的关键核心技术攻关新型举国体制以及坚持开放国际技术合作、积极参与国际标准与规则制定的应对策略。