Skip to main content Accessibility help
×
Hostname: page-component-77c89778f8-vpsfw Total loading time: 0 Render date: 2024-07-19T06:13:47.862Z Has data issue: false hasContentIssue false

General conclusion

Published online by Cambridge University Press:  26 May 2010

Jean-Paul Azam
Affiliation:
Université de Toulouse
Get access

Summary

Much remains to be done to understand the macroeconomics of African economies. Nevertheless, this book has hopefully shown that some progress can be achieved. The method advocated here combines case studies, focusing on some salient events and policy changes, with analytical modeling and econometric testing, when possible. After all, the take-off of macroeconomics in the West was triggered by a similar concern, as Keynes was trying to understand why there was so much unemployment in Britain in the wake of the 1929 crisis; econometrics came later. Much relevant information is not captured by the statistician's net, and must be replaced by some kind of sophisticated guesswork, taking advantage of any available indirect observations. Equilibrium modeling is an important tool for self-discipline, and the validity of some of the assumptions made can be put to the test by evaluating how much of the available information can be accommodated in the story. The work of the macroeconomist is often akin to that of a detective, trying to find the relevant clues to choose among different possible models. There is not yet any better solution than going to visit the country that one wants to analyze, and trying to put the right questions to the right people. Bon voyage!

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2006

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • General conclusion
  • Jean-Paul Azam, Université de Toulouse
  • Book: Trade, Exchange Rate, and Growth in Sub-Saharan Africa
  • Online publication: 26 May 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511618338.011
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • General conclusion
  • Jean-Paul Azam, Université de Toulouse
  • Book: Trade, Exchange Rate, and Growth in Sub-Saharan Africa
  • Online publication: 26 May 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511618338.011
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • General conclusion
  • Jean-Paul Azam, Université de Toulouse
  • Book: Trade, Exchange Rate, and Growth in Sub-Saharan Africa
  • Online publication: 26 May 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511618338.011
Available formats
×