Macroeconomic Models and the Challenge of Growth in African Economies: The Context

Journal of Economics and Sustainable Development, Vol.3, No. 10, p. 203, 2012

10 Pages Posted: 4 Nov 2012

See all articles by Moses Oduh

Moses Oduh

University of Nigeria - Department of Economics

Emmanuel O. Nwosu

University of Nigeria - Department of Economics

Nathaniel Urama

University of Nigeria Nsukka - Department of Economics; University of Reading, United Kingdom; African Institute for Applied Economics (AIAE)

Date Written: September 3, 2012

Abstract

This study addresses the challenges of theorizing the economy of Africa in the context of using macroeconomic models to reshape the future of its non-inclusive growth. It argues that the catastrophic policy summersault of economies that rely on theoretical macro models is traceable to the fact that such models rather than represent the uniqueness of every economy sees all economies as having the same characteristics. Thus it avers for eclectic African models that can redefine economic theory rather than use economic theory to define the economies of Africa. This calls for portfolio of complementary models through constant refinements rather than portfolio of outcompeting models.

Keywords: Africa, challenge of growth, eclectic model, macroeconomic model

JEL Classification: E10, E17

Suggested Citation

Oduh, Moses and Nwosu, Emmanuel O. and Urama, Nathaniel, Macroeconomic Models and the Challenge of Growth in African Economies: The Context (September 3, 2012). Journal of Economics and Sustainable Development, Vol.3, No. 10, p. 203, 2012, Available at SSRN: https://ssrn.com/abstract=2170815

Moses Oduh

University of Nigeria - Department of Economics ( email )

Department of Economics,
University of Nigeria Nsukka
Nsukka
Nigeria

Emmanuel O. Nwosu (Contact Author)

University of Nigeria - Department of Economics ( email )

Department of Economics,
University of Nigeria Nsukka
Enugu, 4100002
Nigeria

HOME PAGE: http://www.unn.edu.ng

Nathaniel Urama

University of Nigeria Nsukka - Department of Economics ( email )

Department of Economics,
University of Nigeria Nsukka
Nsukka
Nigeria

University of Reading, United Kingdom ( email )

School of Politics, Economics and Int. Relations
University of Reading
Reading, Berkshire RG1 5JG
United Kingdom
+447767906094 (Phone)

African Institute for Applied Economics (AIAE) ( email )

128 Park Avenue
GRA, Box 2147
Enugu, 004021
Nigeria

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
122
Abstract Views
989
Rank
414,744
PlumX Metrics