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本文采用AMSZ准则考察1990—2011年非洲国家宏观投资的动态效率,发现除了毛里塔尼亚与圣多美和普林西比的经济增长在个别年份处于动态无效的均衡之外,非洲国家的经济增长在样本期其他时间都处于动态有效的均衡。实证研究表明,北非国家的宏观投资效率的经济增长效应远高于撒哈拉以南非洲国家,撒哈拉以南非洲国家的宏观投资效率的经济增长效应略低于非洲国家的整体水平,可见非洲国家的经济增长受到宏观投资效率和经济体个体差异的影响。
This paper uses the AMSZ criterion to examine the dynamic efficiency of macroeconomic investment in African countries from 1990 to 2011 and finds that in addition to the dynamic ineffective equilibrium between the economic growth of Mauritania and Sao Tome and Principe in individual years, the economic growth of African countries during the sample period Other times are in a dynamic and effective equilibrium. Empirical studies show that the economic growth effect of macro-investment efficiency in North African countries is much higher than that in sub-Saharan African countries, and the economic growth effect of macro-investment efficiency in sub-Saharan African countries is slightly lower than the overall level in African countries. Thus, the economic growth of African countries Growth is affected by macroeconomic efficiency and individual differences in economies.