By Diery Seck
The ebook offers a close research of the motives of West Africa’s present fiscal high-growth episode and proposes how one can expand it sustainably. It examines the aptitude position of neighborhood integration in the course of the institution of a typical forex union and of different coverage techniques that may increase monetary development. The authors recommend applicable equipment of coordination among macroeconomic coverage and industrialization to accomplish larger financial progress and in addition research why pro-poor suggestions haven't been profitable. The booklet underscores the demanding situations and possibilities that might come up from the structural switch to the region’s economies caused by the mandatory funding in production exports, ICT and infrastructure, that are key automobiles for prolonged progress. Readers will learn the way the area can greater achieve its developmental ambitions through securing and perpetuating political liberty and transactional freedom for all its voters.
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Additional resources for Accelerated Economic Growth in West Africa (Advances in African Economic, Social and Political Development)
Seck Table 6 Probability of default on sovereign debt under selected levels of assets and promised payment (assuming s ¼ 40 %, T ¼ 1) Prom. 5 % applies to a loan with a promised payment of $60 and a level of assets of $100. It also applies to a promised payment of $90 and a level of assets of $150. So to maintain the same probability of default a country would need to increase its level of assets by $50 (from $100 to $150) to compensate for an increase of $30 (from $60 to $90) in its promised payment.
K 1980 ¼ I1980 δ þ I gð1980À2012Þ ð6Þ Where Ig is the growth of investment (gross fixed capital formation) from 1980 to 2012. Because investment growth is negative for some countries over some periods and the possibility of non-normality of the series for some countries, we use the median of the annual growth rates instead of the average of annual growth rates to represent the growth rate of investment over the period 1980–2012. The data for capital stock is in real form as the constant price gross capital formation was is used.
3 examines the review of the underlying theoretical issues; Sect. 4 reviews the methodology and empirical results. We conclude in Sect. 5. It is expected that the analysis in the paper would generate further robust debate on the subject matter. 2 Performance of the West African Economy: Stylized Facts The performance of the economies in West Africa provides insights of the growth trajectory. ) on a consistent time series prevents a robust analysis of the performance of the economies of the sub-region.