Ogundipe, Adeyemi A. and Ojeaga, Paul and Ogundipe, Oluwatomisin (2014) Is Aid Really Dead? Evidence from Sub-Saharan Africa. International Journal of Humanities and Social Science Invention, 4 (10). ISSN 2319 – 7722
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Abstract
This study examined the relationship between foreign aid and economic development in Sub-Saharan Africa. The study seeks to examine the role of macroeconomic policy in aid effectiveness in SSA countries by adopting a theoretical framework similar to the Endogenous/New Growth model and the System Generalized Method of Moments (GMM) technique of estimation in attempt to overcome the challenge of endogeneity perceived in the institution variables and aid-growth nexus. It was observed that foreign aid does not significantly influenced Real GDP Per Capita in Sub-Saharan Africa, but the relation reverses after controlling for the role of economic policy; though the response of real GDP per capita tends to be infinitely inelastic. Subsequently, capital stock, labour force, institutional quality and human capital meaningfully contributed to economic development in SSA.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Humanities |
| Depositing User: | Dr Paul Ojeaga |
| Date Deposited: | 25 Mar 2015 21:05 |
| Last Modified: | 25 Mar 2015 21:05 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/4256 |
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