Analyzing Macroeconomic Indicators that May Affect Economic Growth in Sub-Saharan African Countries: A Panel Data Analysis in the Context of Income Level Classification (1990-2019)

Eylül Kabakçı Günay; Meltem Ince Yenilmez

Makale detayları

Analyzing Macroeconomic Indicators that May Affect Economic Growth in Sub-Saharan African Countries: A Panel Data Analysis in the Context of Income Level Classification (1990-2019)

Yazarlar:

Eylül Kabakçı Günay | Meltem Ince Yenilmez

Yayıncı:

Kyrgyz-Turkish Manas University

Ana Başlıklar:

Panel Veri Analizi | Büyüme | Makro İktisat (Diğer) | Kamu Ekonomisi - Vergilendirme ve Gelir

Dergi:

MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 2, pp.490-498

Belge Tipi:

Makale

Yayın Tarihi:

4/2024

Belge Dili:

İngilizce

Document ID (Org No.):

2001315380

pISSN:

1694-7215

Anahtar kelimeler:

Özet:

 The purpose of the study was to ascertain whether the export-import coverage ratio EXIM, the income of natural resources NATR, labour force participation rate LFPR, and foreign direct investment FDI had a positive or negative impact on economic growth for 34 Sub-Saharan African countries using data from 1990 to 2019. The change in Gross Domestic Product Per Capita  is used in the study as a proxy for the economic growth variable, and Sub-Saharan African nations were categorized based on the United Nations income classification system to create more homogeneous groups and consequently more accurate analysis results. To do this, 34 Sub-Saharan African nations were divided into three income categories: lower-middle-income, upper-middle-income, and low-income. The income categories established by the UN were considered while drawing this distinction. This divide led to the analysis of 18 low-income nations, 12 lower-middle-income countries, and 4 upper-middle-income countries. One of the dynamic panel data analysis techniques, the two-step system GMM panel data analysis, was used as the econometric analysis approach. According to the estimations, FDI in lower-middle-income sub-Saharan African countries was statistically significant and inversely related to economic growth; it was observed that the coverage ratio of exports to imports has a statistically significant and linear relationship. None of these independent variables were found to influence economic growth in low-income sub-Saharan African countries. There is a statistically significant correlation between the LFPR and NATR and economic development in the upper-middle income category of nations analyzed. As a result, the influence of factors varied and fluctuated on economic growth based on the income levels of different groups.

 The purpose of the study was to ascertain whether the export-import coverage ratio EXIM, the income of natural resources NATR, labour force participation rate LFPR, and foreign direct investment FDI had a positive or negative impact on economic growth for 34 Sub-Saharan African countries using data from 1990 to 2019. The change in Gross Domestic Product Per Capita  is used in the study as a proxy for the economic growth variable, and Sub-Saharan African nations were categorized based on the United Nations income classification system to create more homogeneous groups and consequently more accurate analysis results. To do this, 34 Sub-Saharan African nations were divided into three income categories: lower-middle-income, upper-middle-income, and low-income. The income categories established by the UN were considered while drawing this distinction. This divide led to the analysis of 18 low-income nations, 12 lower-middle-income countries, and 4 upper-middle-income countries. One of the dynamic panel data analysis techniques, the two-step system GMM panel data analysis, was used as the econometric analysis approach. According to the estimations, FDI in lower-middle-income sub-Saharan African countries was statistically significant and inversely related to economic growth; it was observed that the coverage ratio of exports to imports has a statistically significant and linear relationship. None of these independent variables were found to influence economic growth in low-income sub-Saharan African countries. There is a statistically significant correlation between the LFPR and NATR and economic development in the upper-middle income category of nations analyzed. As a result, the influence of factors varied and fluctuated on economic growth based on the income levels of different groups.

 The purpose of the study was to ascertain whether the export-import coverage ratio EXIM, the income of natural resources NATR, labour force participation rate LFPR, and foreign direct investment FDI had a positive or negative impact on economic growth for 34 Sub-Saharan African countries using data from 1990 to 2019. The change in Gross Domestic Product Per Capita  is used in the study as a proxy for the economic growth variable, and Sub-Saharan African nations were categorized based on the United Nations income classification system to create more homogeneous groups and consequently more accurate analysis results. To do this, 34 Sub-Saharan African nations were divided into three income categories: lower-middle-income, upper-middle-income, and low-income. The income categories established by the UN were considered while drawing this distinction. This divide led to the analysis of 18 low-income nations, 12 lower-middle-income countries, and 4 upper-middle-income countries. One of the dynamic panel data analysis techniques, the two-step system GMM panel data analysis, was used as the econometric analysis approach. According to the estimations, FDI in lower-middle-income sub-Saharan African countries was statistically significant and inversely related to economic growth; it was observed that the coverage ratio of exports to imports has a statistically significant and linear relationship. None of these independent variables were found to influence economic growth in low-income sub-Saharan African countries. There is a statistically significant correlation between the LFPR and NATR and economic development in the upper-middle income category of nations analyzed. As a result, the influence of factors varied and fluctuated on economic growth based on the income levels of different groups.

 Çalışmada 1990-2019 yılları arasındaki veriler kullanılarak, seçilmiş Sahra altı Afrika ülkeleri için doğrudan yabancı sermaye yatırımları, işgücüne katılım oranı, ihracatın ithalatı karşılama oranı ve doğal kaynak gelirlerinin ekonomik büyümeyi arttırıcı ya da azaltıcı yönde etkisi bulunup bulunmadığı tespit edilmiştir. Ekonomik büyüme değişkenini Kişi Başına Gayri Safi Yurtiçi Hasıla Yıllık Değişim in temsil ettiği çalışmada, gelir farklılıklarının da etkisi görebilmek amacıyla Sahra Altı Afrika ülkeleri Birleşmiş Milletlerin gelir sınıflandırmasına göre sınıflandırılmış, düşük gelirli ülkeler, alt-orta gelirli ülkeler, üst orta gelirli ülkeler olarak ayrılmıştır. Bu ayrım yapılırken Birleşmiş Milletlerin belirlemiş olduğu gelir aralıkları dikkate alınmıştır. Bu ayrım sonucunda düşük gelir sınıfında 19, alt-orta gelir sınıfında 12, üst-orta gelir sınıfında ise 4 ülke analiz edilmiştir. Ekonometrik analiz yöntemi olarak dinamik panel veri analiz yöntemlerinden olan iki aşamalı sistem GMM panel veri analizi kullanılmıştır. Gerçekleştirilen tahminler sonucunda düşük gelirli Sahra altı Afrika ülkelerinde ekonomik büyüme üzerinde söz konusu bağımsız değişkenlerden hiçbirinin etkisine rastlanmamışken; alt-orta gelirli sahra altı Afrika ülkelerinde doğrudan yabancı yatırımların ekonomik büyüme üzerinde istatistiksel olarak anlamlı ve ters yönde; ihracatın ithalatı karşılama oranının ise istatistiksel olarak anlamlı ve doğrusal yönde ilişkiye sahip olduğu görülmüştür. Üst-Orta gelir grubundaki ülkeler ile yapılan analizde ise işgücüne katılım oranının ve doğal kaynak gelirlerinin ekonomik büyüme ile istatistiksel olarak anlamlı bir ilişkiye sahip olduğu görülürken, ilişkinin yönüne bakıldığında ise işgücüne katılım oranının doğrusal, doğal kaynak gelirlerinin ise ters yönde ilişkiye sahip olduğu anlaşılmıştır. Sonuç olarak denilebilir ki gelir gruplarına göre ekonomik büyüme üzerinde etkisi olan değişkenler farklılaşmaktadır.

Makale detayları

Analyzing Macroeconomic Indicators that May Affect Economic Growth in Sub-Saharan African Countries: A Panel Data Analysis in the Context of Income Level Classification (1990-2019)

Yazarlar:

Eylül Kabakçı Günay | Meltem Ince Yenilmez

Yayıncı:

Kyrgyz-Turkish Manas University

Ana Başlıklar:

Panel Veri Analizi | Büyüme | Makro İktisat (Diğer) | Kamu Ekonomisi - Vergilendirme ve Gelir

Dergi:

MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 2, pp.490-498

Belge Tipi:

Makale

Yayın Tarihi:

4/2024

Belge Dili:

İngilizce

Document ID (Org No.):

2001315380

pISSN:

1694-7215

Economics growth

Sub-saharan Africa

Export-import coverage ratio

Foreign direct investment

Income classificationEkonomik büyüme

Sahra Altı Afrika

İhracatın ithalatı karşılama oranı

Doğrudan yabancı yatırım

Gelir sınıflandırması

Sayı

Makale detayları

Yazarlar: Eylül Kabakçı Günay | Meltem Ince Yenilmez

Yayıncı: Kyrgyz-Turkish Manas University

Ana Başlıklar: Panel Veri Analizi | Büyüme | Makro İktisat (Diğer) | Kamu Ekonomisi - Vergilendirme ve Gelir

Dergi: MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 2, pp.490-498

Belge Tipi: Makale

Yayın Tarihi: 4/2024

Belge Dili: İngilizce

Document ID (Org No.): 2001315380

pISSN: 1694-7215

Sayı

Yazarlar:

Eylül Kabakçı Günay | Meltem Ince Yenilmez

Yayıncı:

Kyrgyz-Turkish Manas University

Ana Başlıklar:

Panel Veri Analizi | Büyüme | Makro İktisat (Diğer) | Kamu Ekonomisi - Vergilendirme ve Gelir

Dergi:

MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 2, pp.490-498

Belge Tipi:

Makale

Yayın Tarihi:

4/2024

Belge Dili:

İngilizce

Document ID (Org No.):

2001315380

pISSN:

1694-7215