Export intensity of foreign subsidiaries of multinational enterprises: The role of trade finance availability

We examine the relationship between the role of trade finance availability and the export intensity of foreign subsidiaries of multinational enterprises (MNEs). In developing our hypotheses, we draw upon insights derived from “new” internalisation theory (international business literature) and international trade finance (international economics literature). We empirically test these hypotheses using survey data compiled from subsidiary managers in six ASEAN countries, supplemented with host-country level data. We conceptualise, empirically test, and establish that the subsidiary-level capability in combining and utilising internal and external debts is an important subsidiary-specific advantage to support export intensity. We find that subsidiaries employ intra-firm loans from MNE internal capital markets and, to some extent, bank loans from external financial institutions to boost their export intensity. Subsidiaries may have concerns about foreign exchange risks, but the use of appropriate foreign exchange risk management is positively associated with export intensity. We discuss the implications of our findings for theory and practice.     

On the transferability of the Asian rice green revolution to rainfed areas in sub‐Saharan Africa: an assessment of technology intervention in Northern Ghana

This article investigates the impact of technical intervention on the adoption of a set of improved rice production technologies, as well as on productivity and profit for smallholders in rainfed lowland areas in Northern Ghana. The key finding is that productivity and profit are significantly enhanced when modern varieties (MVs) and chemical fertilizer are adopted, coupled with water control techniques. This is essentially the transfer of the Asian Green Revolution to sub‐Saharan Africa. Such transfer, however, is not truly successful unless information about the use of MVs and fertilizer is directly disseminated by extension activities.     

SOURCES OF ECONOMIC GROWTH AND TECHNOLOGY TRANSFER IN SUB‐SAHARAN AFRICA1

This paper provides some empirical evidence on the sources of growth in sub‐Saharan Africa (SSA). Within the classical convergence framework, several macroeconomic, socio and political factors are identified as affecting the steady state growth paths of the SSA countries. The rejection of the constant technology growth rate assumption implied by the linearised Solow‐Swan growth specification suggests differences in the economies' technology growth rates. An endogenous technology growth model is estimated to measure contributions of diminishing returns and technology transfer to the rate of conditional convergence in the region. The results carry important policy implications for improving the standard of living and economic growth rate of African countries.     

广东省制造业产业升级的实证分析——基于动态偏离份额法

本文用动态偏离份额分析法（Dynamic Shift—Share Analysis,DSSA）,构建了单结构动态模型;并应用动态模型获得了产业结构差异数据,重点分析了广东主要产业的结构动态变化。在此基础上,提出了产业结构升级的主要途径。     

Measuring heterogeneity,survey engagement and response quality in preferences for organic products in Nigeria

The identification of the market potentials of organic products is important in the drive towards a sustainable agricultural development in sub-Saharan Africa (SSA). However, available evidence shows that valuing attributes of credence goods (such as organic products) while using stated preference methods faces additional obstacles compared to other normal goods. In this study, we examine consumers’ preferences and willingness-to-pay (WTP) for health and environmental attributes of organic products in Nigeria. We employ an approach that allows us to adequately capture the value of organic products by linking part of the heterogeneity across respondents to differences in scale, while making use of indicators of survey engagement, without risks of endogeneity bias and measurement error that arise from the deterministic methods. The empirical results show that market for organic products exists in Nigeria, with reduction in pesticide residues attribute attracting the highest value, followed by the certification programme. Furthermore, we observe that increases in the latent engagement variable lead to a greater probability of agreement with statements relating to survey understanding and realism, and hence more substantive output.     

Information communications technology and economic growth in Sub-Saharan Africa: A panel data approach

This research empirically analyzed the impact of mobile phone and the Internet on per capita income of Sub-Saharan Africa (SSA) for the period of 2006–2015 using a panel data of 40 countries. We have employed the robust two-step system GMM. Results showed that growth in mobile phone penetration has contributed significantly to the GDP per capita of the region after controlling for a number of other variables. A 10% increase in mobile phone penetration results in a 1.2% change in GDP per capita. Therefore, improving access to mobile phones will play a critical role in reducing the poverty level of the region through raising the per capita income of the population.However, the Internet has not contributed to the per capita GDP during the study period. The insignificant impact of the Internet could be due to low penetration of the technology, low ICT skill of Internet users, lack of or insufficient local content on the global network, and the relatively immature state of the technology in the region. Therefore, governments and other stakeholders should design policies that encourage expansion of the Internet. In addition to improving Internet access, policies which focus on ICT skill development and local content creation should also be designed and implemented.     

Determinants of a Digital Divide in Sub-Saharan Africa: A Spatial Econometric Analysis of Cell Phone Coverage

This paper investigates the determinants of disparities in coverage by cell telephone systems in Sub-Saharan Africa. It uses a spatially disaggregated probit for over 990,000 grid cells with adjustments for spatial autocorrelation. Determinants include potential market size (population); cost factors related to accessibility (elevation, slope, distance from a main road, and distance from the nearest large city); and competition policy. Estimates indicate significant results for the supply–demand variables, and very strong results for the competition policy index.Simulations suggest that a generalized improvement in competition policy could lead to huge improvements in cell phone area coverage, and to an overall coverage increase of nearly 100%.     

Monthly forecasting of GDP with mixed-frequency multivariate singular spectrum analysis

The literature on mixed-frequency models is relatively recent and has found applications across economics and finance. The standard application in economics considers the use of (usually) monthly variables (e.g. industrial production) for predicting/fitting quarterly variables (e.g. real GDP). This paper proposes a multivariate singular spectrum analysis (MSSA) based method for mixed-frequency interpolation and forecasting, which can be used for any mixed-frequency combination. The novelty of the proposed approach rests on the grounds of simplicity within the MSSA framework. We present our method using a combination of monthly and quarterly series and apply MSSA decomposition and reconstruction to obtain monthly estimates and forecasts for the quarterly series. Our empirical application shows that the suggested approach works well, as it offers forecasting improvements on a dataset of eleven developed countries over the last 50 years. The implications for mixed-frequency modelling and forecasting, and useful extensions of this method, are also discussed.     

中国三大区域省际趋同效应识别研究——基于就业结构变迁视角

利用转移-份额分析法(SSA)、改进的Baumol模型和Barro模型估计法对我国东中西部28个省市自治区2000-2010年的就业结构变迁、经济趋同效应进行实证研究发现:经典的配第克拉克-定律在我国依然有效,我国三大区域省际之间不存在绝对β趋同效应；但存在省际条件β趋同效应和省际σ趋同效应,在东中西三大区域内分别存在着以政策区划分的俱乐部趋同规律,俱乐部趋同速率分别为:2.1％、0.2％和0.2％.     

产业结构框架下中国吸纳劳动能力的区域差异研究

运用SSA模型对中国2001~2008年期间六大区域的就业增长情况进行分析,计算出各地的产业结构和区位因素对就业增长的影响程度,以此为依据,分析了中国六大区域在吸纳就业能力方面存在的差异和差异产生的原因,在此基础上提出了相应的政策建议。