Business Dynamics, Knowledge Economy, and the Economic Performance of African Countries

Simplice Asongu, Voxi Heinrich Amavilah and Antonio Andres

No 19/004, Working Papers from European Xtramile Centre of African Studies (EXCAS)

Abstract: This paper develops a framework (a) to examine whether or not the African business environment hinders or promotes the knowledge economy (KE), (b) to determine how the KE affects economic performance, and (c) how economic performance relates to the inequality-adjusted human socioeconomic development (IHDI) of 53 African countries during the 1996-2010 time period. We estimate the linkages with three related equations. The results support a strong correlation between the dynamics of starting and doing business and variations in KE. The results also show that there exists a weak link between KE and economic performance. Nonetheless, KE-influenced performance plays a more important role in socioeconomic development than some of the conventional control variables like foreign direct investment (FDI), foreign aid, and even private investment.

Keywords: Business Dynamics; Knowledge Economy; Economic Performance (search for similar items in EconPapers)
JEL-codes: L59 O10 O20 O30 O55 (search for similar items in EconPapers)
Pages: 45
Date: 2019-01
New Economics Papers: this item is included in nep-cse and nep-knm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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http://publications.excas.org/RePEc/exs/exs-wpaper ... rmance-in-Africa.pdf Revised version, 2019 (application/pdf)

Related works:
Working Paper: Business Dynamics, Knowledge Economy, and the Economic Performance of African Countries (2019)
Working Paper: Business Dynamics, Knowledge Economy, and the Economic Performance of African Countries (2019)
Working Paper: Business Dynamics, Knowledge Economy, and the Economic Performance of African Countries (2019)
Working Paper: Business Dynamics, Knowledge Economy, and the Economic Performance of African Countries (2019)
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