African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter?
The Africa Growth and Opportunity Act was introduced by the United States of America to enable beneficiary countries to boost their export volumes and make way for growth and development. The study aims at estimating the effect of the Act on export from sub-Saharan African countries to the United St...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Elsevier
2023-07-01
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| Series: | Heliyon |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844023052763 |
| _version_ | 1797771411205390336 |
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| author | Evans Kulu Isaac Bentum-Ennin |
| author_facet | Evans Kulu Isaac Bentum-Ennin |
| author_sort | Evans Kulu |
| collection | DOAJ |
| description | The Africa Growth and Opportunity Act was introduced by the United States of America to enable beneficiary countries to boost their export volumes and make way for growth and development. The study aims at estimating the effect of the Act on export from sub-Saharan African countries to the United States of America considering the role of credit. A panel data for 49 countries sourced from IMF DOTS, WDI, and CEPII for the period 1980 to 2020 was employed. Using the GMM, and the differences in differences estimation techniques, the findings showed that the AGOA trade preference has not achieved the purpose for which it was introduced. It is however found that export to the United States can be improved under the trade preference if credit is provided to the private sector. It is therefore recommended that credit accessibility should be made easy to make way for private sector investment in the production process to feed the export sector. |
| first_indexed | 2024-03-12T21:37:10Z |
| format | Article |
| id | doaj.art-1ae5da0fa226430aa6da313553baf8a6 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-03-12T21:37:10Z |
| publishDate | 2023-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-1ae5da0fa226430aa6da313553baf8a62023-07-27T05:58:26ZengElsevierHeliyon2405-84402023-07-0197e18068African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter?Evans Kulu0Isaac Bentum-Ennin1Department of Industrial Mathematics, School of Mathematics, C.K. Tedam University of Technology and Applied Science, Navrongo, Ghana; Corresponding author.Department of Economic Studies, School of Economics, University of Cape Coast, Cape Coast, GhanaThe Africa Growth and Opportunity Act was introduced by the United States of America to enable beneficiary countries to boost their export volumes and make way for growth and development. The study aims at estimating the effect of the Act on export from sub-Saharan African countries to the United States of America considering the role of credit. A panel data for 49 countries sourced from IMF DOTS, WDI, and CEPII for the period 1980 to 2020 was employed. Using the GMM, and the differences in differences estimation techniques, the findings showed that the AGOA trade preference has not achieved the purpose for which it was introduced. It is however found that export to the United States can be improved under the trade preference if credit is provided to the private sector. It is therefore recommended that credit accessibility should be made easy to make way for private sector investment in the production process to feed the export sector.http://www.sciencedirect.com/science/article/pii/S2405844023052763Africa growth and opportunity act (AGOA)CreditExportsSub-Saharan AfricaUnited States of America |
| spellingShingle | Evans Kulu Isaac Bentum-Ennin African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter? Heliyon Africa growth and opportunity act (AGOA) Credit Exports Sub-Saharan Africa United States of America |
| title | African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter? |
| title_full | African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter? |
| title_fullStr | African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter? |
| title_full_unstemmed | African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter? |
| title_short | African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter? |
| title_sort | african growth and opportunity act agoa and exports of sub saharan african countries to the united states of america does credit matter |
| topic | Africa growth and opportunity act (AGOA) Credit Exports Sub-Saharan Africa United States of America |
| url | http://www.sciencedirect.com/science/article/pii/S2405844023052763 |
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