Does International Financial Integration Increase the Standard of Living in Africa? A Frontier Approach

Gilles Dufrénot () and Kimiko Sugimoto ()
Additional contact information
Kimiko Sugimoto: Konan University (Hirao School of Management), Japan, http://researchers.adm.konan-u.ac.jp/html/100000405_en.html

No 1913, AMSE Working Papers from Aix-Marseille School of Economics, France

Abstract: We investigate whether a higher financial integration with the rest of the world can help the African countries reduce their production inefficiency and/or push up their efficient frontier of production. We use two alternative empirical approaches based, respectively, on a stochastic frontier analysis and quantile regressions. We provide evidence of heterogeneous situations across countries and time. This paper proposes a new approach for defining, at the aggregate level, a link between financial openness and production efficiency. We show that one size does not fit all: international financial integration can increase or decrease African countries' standard of living.

Keywords: African countries; financial openness; stochastic frontier; quantile regression (search for similar items in EconPapers)
JEL-codes: F33 F34 F36 F41 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2019-04
New Economics Papers: this item is included in nep-eff, nep-fdg and nep-ore
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Citations: View citations in EconPapers (3)

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Working Paper: Does International Financial Integration Increase the Standard of Living in Africa? A Frontier Approach (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:aim:wpaimx:1913

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