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Papers by Chengetai Munjoma Chinguwa

The quarterly journal of …, Jan 1, 1992

This paper examines whether the Solow growth model is consistent with the international variation... more This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The paper also examines the implications of the Solow model for convergence in standards of living, that is, for whether poor countries tend to grow faster than rich countries. The evidence indicates that, holding population growth and capital accumulation constant, countries converge at about the rate the augmented Solow model predicts.

This paper discusses and models the potential of FDI inflows to affect host country economic grow... more This paper discusses and models the potential of FDI inflows to affect host country economic growth. The paper argues that FDI should have a positive effect on economic growth as a result of technology spillovers and physical capital inflows. Performing both cross-section and panel data analysis on a dataset covering 90 countries during the period 1980 to 2002, the empirical part of the paper finds indications that FDI inflows enhance economic growth in developing economies but not in developed economies.

The Journal of Economic Perspectives, Jan 1, 1993

Dvv evelopment is often taken to mean rising incomes. A still common view equates development wit... more Dvv evelopment is often taken to mean rising incomes. A still common view equates development with growth in average income, though there has been a shift in emphasis since the 1970s to a focus on the distribution of incomes. Discussions of the "goals of development" now ...

Changes in social structures occurring during the process of economic growth can be considered di... more Changes in social structures occurring during the process of economic growth can be considered direct consequences of this process, while other changes are caused by factors such as technological progress, that affect simultaneously social structures and growth. This chapter focuses on that part of the circular argument that goes from growth to social structures. It does not consider the effect of social changes on growth. The chapter is thus an attempt to isolate the pure “income effect” in the evolution of social structures and to disentangle the effect of economic growth from the effect of other factors in observed changes in social structures. Section 1 examines the nature of the statistical relationships existing between social indicators and development across countries and/or across periods, in order to illustrate the differences in social structures associated with differences in income. It also discusses the difficulty of obtaining precise estimates of the size of the income effect from this kind of evidence and the need to rely on more structural analyses. Section 2 reviews theoretical models of the effect of economic growth on social structures, with an emphasis on several dimensions of social differentiation and on economic inequality. Section 3 focuses on the empirical evidence in support of this structural view of the consequences of growth for social structures. Section 4 concludes by emphasizing the importance of sectoral shifts, the role of the market in integrating the economy and society, and the social costs of sectoral adjustments. The effect of changes in social structures on social institutions and on social relations is only briefly discussed in the Conclusions.

Cesifo Economic Studies, Jan 1, 2003

The Journal of Development Studies, Jan 1, 2003

2 This paper argues that the development of the financial system of the recipient country is an i... more 2 This paper argues that the development of the financial system of the recipient country is an important precondition for FDI to have a positive impact on economic growth. A more developed financial system positively contributes to the process of technological diffusion associated with FDI. The paper empirically investigates the role the development of the financial system plays in enhancing the positive relationship between FDI and economic growth. The empirical investigation presented in the paper strongly suggests that this is the case. Of the 67 countries in data set, 37 have a sufficiently developed financial system in order to let FDI contribute positively to economic growth. Most of these countries are in Latin America and Asia.

World development, Jan 1, 1995

Like most countries, our over-reading development objective is rapid increase in the standard of ... more Like most countries, our over-reading development objective is rapid increase in the standard of living of all Nigerians. The standard of living of all depends on the total value of goods and services produced in the country (G. D. .P), and how the people are benefiting from such available goods and services for their economic well-being. The standard on living of the people , therefore, depends on productivity. The rate of production will also determine the rate of growth of the economy.

World development, Jan 1, 1996

Theory suggests that foreign direct investment (FDI) contributes to capital accumulation and tech... more Theory suggests that foreign direct investment (FDI) contributes to capital accumulation and technological progress and is an important catalyst for industrial development. In the context of an endogenous model, we investigate the impact of FDI on economic growth, and test the hypothesis that the beneficial effect of FDI inflows is stronger in those countries with higher level of economic development. Our results show a strong direct impact of FDI on economic growth in developing countries, as well as an indirect impact through the interaction of FDI with human capital. Additionally, our results suggest that the impact of FDI on economic growth is greater among technological leaders. We conclude that absorptive capacity in the host country is important in allowing FDI to positively and fully impact economic growth. JEL Classifications: F21, F23, O47

Journal of development economics, Jan 1, 1983

This paper focuses on a new estimate of Feder (1982)'s model on productivity and externality effe... more This paper focuses on a new estimate of Feder (1982)'s model on productivity and externality effect of exports in six Asian countries. Econometric issues are addressed with the use of cross-sectional analysis. The results show that the coefficients of the models reduce substantially when the analysis is adjusted for stationarity. The effect of exports on growth and productivity is found to be positively significant and the export sector is found to have a positive effect on non-export sector. However, the extent of externality effect will depend on several factors such as size, policy orientation of exports, concentration of export products and processing level of exports. ABSTRAK Kajian ini menumpukan kepada suatu anggaran baru model Feder (1982) keatas produktiviti dan kesan luaran sektor ekspot bagi enam buah negara Asia. Isu-isu ekonometrik dibincang apabila analisis silang rentas digunakan. Keputusan kajian ini menunjukkan bahawa pengkali bagi model Feder berkurangan apabila analisis dibuat setelah penyelarasan bagi kepegunan dibuat. Kesan ekspot keatas pertumbuhan dan produktiviti didapati signifikan secara positif dan sektor ekspot didapati mempunyai kesan luaran positif keatas sektor bukan ekspot. Walau bagaimapun, tahap kesan luaran tersebut bergantung kepada beberapa faktor saperti saiz, polisi orientasi ekspot, pemusatan produk ekspot dan tahap pemprosesan ekspot.

Developed road infrastructure is one of the main ingredients to economic growth. At the same time... more Developed road infrastructure is one of the main ingredients to economic growth. At the same time, economic growth enables further expansion of infrastructure. The co-evolutionary aspects of the growth of economic output and road infrastructure are thus apparent and represent the main motivation for the study presented in this chapter. We develop a model analyzing the interdependence between a country’s economic growth and the development of transportation infrastructure in this country, explicitly taking into account the mutual influence of the rate of economic growth and the transportation capacity. Formulating an optimal control problem, the optimal investment rate can be determined. This model forms a comprehensive framework for understanding the underlying dynamics and the patterns of economic growth in relation to transport infrastructure. An analytical solution for the infinite horizon problem is derived and the steady state is shown to depend crucially on the rate of physical decay of roads. Testing the model for the data of two countries illustrates the usefulness of such an approach to real world problems and possibly policy recommendations, even though the model would have to be adapted to the specific characteristics of each country or region to make precise statements.

... 16 (December. 1982), pp. 1063-77; hb Chenery and M. Syrquin, Patterns of Development, 1950-19... more ... 16 (December. 1982), pp. 1063-77; hb Chenery and M. Syrquin, Patterns of Development, 1950-1970 ... www-wds.worldbank.org/ servlet/ WDSContentServer/ IW3P/ IB/ 2000/ 04/ 08/ 000178830_98101911364677/ Rendered/ PDF/ multi_page.pdf. World Bank Document 21747. ...

European Economic Review, Jan 1, 1996

Journal of economic growth, Jan 1, 2000