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The effects of grants and loans on economic growth in Sub-Saharan Africa: Considering different types of income level

Title
The effects of grants and loans on economic growth in Sub-Saharan Africa: Considering different types of income level
Authors
Mah, Jai S.Yoon, Sang-Chul
Ewha Authors
마재신
SCOPUS Author ID
마재신scopus
Issue Date
2020
Journal Title
JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT
ISSN
0963-8199JCR Link

1469-9559JCR Link
Citation
JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT vol. 29, no. 5, pp. 604 - 618
Keywords
Grantsloanseconomic growthSSAMICsLICs
Publisher
ROUTLEDGE JOURNALS, TAYLOR &

FRANCIS LTD
Indexed
SSCI; SCOPUS WOS scopus
Document Type
Article
Abstract
This paper investigates the question of aid's effects on economic growth in Sub-Saharan Africa (SSA) by disaggregating aid into grants and loans during 1994-2015. The estimation results indicate that grants have a positive and statistically significant effect on economic growth, while loans have a negative but insignificant effect on it. When we break down the panel data into Low Income Countries (LICs) and Middle Income Countries (MICs) in order to gain further insight, grants have been effective in spurring growth in both LICs and MICs, while loans have had positive and significant impact on economic growth in neither LICs nor MICs. Accordingly, the main findings of this study provide a consistent evidence in support of the grants-effectiveness on growth in both MICs and LICs, contrary to the ineffectiveness of loans. The other supplementary results show that the domestic investment (GCF) and education (SEC) which are basically public policy variables have significantly positive impacts on economic growth in MICs, while they are not statistically significant in LICs.
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DOI
10.1080/09638199.2019.1708962
Appears in Collections:
스크랜튼대학 > 국제학부 > Journal papers
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