Abstract
The focus of this paper is to evaluate similarities and differences between and within three regions: Africa, Asia, and Latin America/Caribbean. The five variables used (per capita GDP, remittances, openness, capital/labor ratio and freedom) broadly classify economic growth in these regions. For each of the five variables the null hypothesis is that the means of the three regions are equal. One-way analysis of variances is the tool of choice. Furthermore, the full samples are employed to test equality of the means between the three regions and all regions. The results show substantial gaps between the groups as well as factors under consideration.
Similar content being viewed by others
References
Aditya A, Acharyya R (2012) Does what countries export matter? The Asian and Latin American experience. J Econ Dev 37(3):47–74
Altman D (2007) Connected 24 hours in the global economy. Farrar, Straws and Giroux, New York
Anderson DR, Sweeney DJ, Williams TA (2008) Statistics for business and economics. Thomson, Mason
Bandyopadhyay S, Roy S (2011) Political economy determinants of non-agricultural trade policy. Fed Reserv Bank St Louis Rev 93(2):89–104
Baumol WJ (1986) Productivity growth, convergence, and welfare: what the long-recap data shows? Am Econ Rev 76(5):1072–1085
Benmanmoun M, Lehnert K (2013) Financing growth: comparing the effects of FDI, ODA and international remittances. J Econ Dev 38(2):43–65
Das DK, Dutta CB (2013) Global financial crisis and foreign development assistance shocks in least developing countries. J Econ Dev 38(2):1–41
El-Wassal KA (2012) Foreign direct investment and economic growth in Arab countries (1970–2008): an inquiry into determinates of growth benefits. J Econ Dev 37(4):79–100
Fields GS (1980) Poverty, inequality and development. Cambridge University Press, Cambridge
Friedman M (1962) Capitalism and freedom. University of Chicago Press, Chicago
Garrett TA, Rhine RM (2011) Economic freedom and employment growth in U.S. States. Fed Reserv Bank St Louis Rev 93(1):1–18
Khan MZS (2012) Examining Friedman hypothesis on political, civil and economic freedom for SAARC countries: a dynamic panel data analysis. J Econ Dev 37(3):107–127
Kochi I, Rodriguez RAP (2010) Do remittances crowd out the government’s redistributive policy? J Econ Dev 35(4):45–72
Lautier M, Moreaub F (2012) Domestic investment and FDI in developing countries: the missing link. J Econ Dev 37(3):1–23
Lozada C (1999) Economic policy trends in post-world war II Latin America. Fed Reserv Bank St Louis Rev 84(4):38–45
Makhlouf F, Mughal M (2013) Remittances, dutch disease, and competitiveness: a Bayesian analysis. J Econ Dev 38(2):67–97
Nsiah C, Fayissa B (2013) Remittances and economic growth in Africa, Asia, and Latin American-Caribbean countries: a panel unit and panel cointegration analysis. J Econ Financ 37(3):424–441
Peláez RF (2009) Economic freedom: a comparative study. J Econ Financ 33(3):246–258
Roy S (2010) Is corruption anti-labour? Appl Econ Lett 17(4):329–333
Serino MNV, Kim D (2011) How do international remittance affect poverty in developing countries? A quantile regression analysis. J Econ Dev 36(4):17–40
Uneze E (2012) Foreign aid, aid uncertainty and private investment in West Africa: an unobserved country effect model. J Econ Dev 37(4):101–123
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Collins, S., Nissan, E. Comparing Africa, Asia and Latin America/Caribbean countries using per capita GDP, remittances, openness, capital/labor ratios and freedom. J Econ Finan 40, 188–198 (2016). https://doi.org/10.1007/s12197-014-9301-7
Published:
Issue Date:
DOI: https://doi.org/10.1007/s12197-014-9301-7