Almas Heshmati 
Studies on Economic Development and Growth in Selected African Countries 

This book is a collection of studies on economic development and growth in selected African countries. It consists of an introduction/summary and 15 inter-related empirical studies grouped into 5 research areas: women’s empowerment and demand for healthcare; the impact of institutions, aid, inflation and FDI on economic growth; capital structure and bank-loan growth effects; trade, mineral exports and exchange rate; and growth, productivity and efficiency in various industries. While it provides a comprehensive picture of the state of economic development and growth in most parts of the continent, the main focus is on economic development and growth in Ethiopia and Rwanda – two countries undergoing rapid economic and social development.

Table of Content

Chapter 1.An Introduction to the Studies on Economic Development and Growth in selected African Countries.- Part A. Women’s empowerment and demand for healthcare.- Chapter 2:Measuring Women’s Empowerment in Rwanda.- Chapter 3:Role of Insurance in Demand for Healthcare in Rwanda.- Part B. Impact of institutions, aid, inflation and FDI on economic growth.- Chapter 4: Economic Growth and the Impact of Institutions.- Chapter 5: Fiscal Effects of Aid in Rwanda.- Chapter 6:Exploring the Relationship between Inflation and Real Economic Growth in Rwanda.- Chapter 7: Addis YIMER, Macroeconomic, Political and Institutional Determinants of FDI Inflows to Ethiopia.- Part C. Capital structure and bank loan growth effects.- Chapter 8: Yitbarek TAKELE and Daniel BESHIR, Firm-specific Determinants of Insurance Companies’ Capital Structures in Ethiopia.- Chapter 9: Atnafu GEBREMESKEL, Income Distribution and Economic Growth.- Part D. Trade, mineral exports and exchange rate.- Chapter 10: Johannes O. BOCKMANN, SME Trade with sub-Saharan Africa.- Chapter 11: Emmanuel MUSHIMIYIMANA, An Assessment of the Contribution of Mineral Exports to Rwanda’s Total Exports.- Chapter 12: Fentahun BAYLIE, Testing the External Balassa Hypothesis for Low and Middle Income Countries.- Part E. Growth, productivity and efficiency in various industries.- Chapter 13: Hassen AZIME, Gollagari RAMAKRISHNA and Melesse ASFAW,  Agricultural Tax Responsiveness and Economic Growth in Ethiopia.- Chapter 14: Olaide R. AKANDE and Hephzibah O. OBEKPA, Improving Agricultural Productivity in sub-Saharan Africa.- Chapter 15: Eric UWITONZE and Almas HESHMATI, Service Sector Development and its Determinants in Rwanda.- Chapter 16. Masoomeh RASHIDGHALAM, Labor-use Efficiency in Kenyan Manufacturing and Service Industries.

About the author

Almas Heshmati is Professor of Economics at Jönköping University and Sogang University. He held similar positions at the Korea University, Seoul National University, University of Kurdistan Hawler, Korea University and Seoul National University. He was Research Fellow at the World Institute for Development Economics Research (WIDER), the United Nations University during 2001-04. From 1998 till 2001, he was an Associate Professor of Economics at the Stockholm School of Economics. He has a Ph D from the University of Gothenburg (1994), where he held a Senior Researcher’s position until 1998. His research interests include applied microeconomics, globalization, energy, environment, development strategy,  efficiency, productivity and growth with application to manufacturing and services. In addition to more than 150 articles in scientific journals he has published books on the EU Lisbon Process, Global Inequality,


East Asian Manufacturing, the Chinese Economy, Technology Transfer, Information Technology, Water Resources, Landmines, Power Generation, Renewable Energy, Development Economics, World Values, Poverty, Economic Growth and International Airlines.