Analyzing the Evolution of China-Africa Economic Integration: A Wavelet Approach

• 영문명: Analyzing the Evolution of China-Africa Economic Integration: A Wavelet Approach
• 발행기관: 세종대학교 경제통합연구소
• 저자명: Marvellous Ngundu Harold Ngalawa
• 간행물 정보: 『Journal of Economic Integration』제38권 제2호, 302~321쪽, 전체 20쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2023.06.30

영문 초록

This study analyzes the evolution of Africa's degree of economic integration with China from 1993 to 2019. The study period encompasses a number of China-Africa bilateral economic treaties, which the literature claims are prolific and have significantly strengthened Africa's degree of economic integration with China. We develop a theoretical argument that, if this assertion holds, the integration indicator must reflect a long-run upward trend that is less obstructed by noise. To validate this argument, we use a wavelet approach and find no evidence necessitating failure to reject the null hypothesis of no periodicity, suggesting that the integration indicator was statistically noisy over the study period. This finding suggests that interpreting the evolution of China-Africa economic integration primarily through bilateral economic pacts can be deceptive. The interpretation should instead be exploratory in nature to unpack some hidden motivations associated with this integration. Our preliminary investigation revealed that the Angola Model is primarily driving China-Africa economic integration. Therefore, it is plausible to argue that China-Africa economic integration is perpetuated to exploit natural resources rather than to enhance hard infrastructure development in Africa, as purported in the literature.

목차

I. Introduction

II. China-Africa Economic Engagement

III. Empirical Strategy

IV. Estimated Results

V. Conclusion

References

키워드

Angola model China-Africa economic integration wavelet analysis