Ibe Ndukwe
School of Business and Creative Industries, University of the West of Scotland, Paisley Campus, Paisley, Scotland, UK.
Sci Rep. 2024 Jul 15;14(1):16249. doi: 10.1038/s41598-024-67228-x.
The purpose of this study is to examine the impact of national savings on economic development, as measured by the Human Development Index (HDI), Inequality-adjusted HDI (iHDI), and Multidimensional Poverty Index (MPI), in ten of the poorest countries in Sub-Saharan Africa. The study employs a sequential Generalized Method of Moments (GMM) analysis to address potential endogeneity issues and account for the dynamic nature of the relationships, covering the period from 2009 to 2019. The findings reveal a complex relationship between national savings and the selected development indicators. While national savings exhibit positive impacts on HDI and iHDI, the results are not consistently statistically significant across all the sequential models. However, the analysis suggests that national savings have a positive influence on reducing multidimensional poverty, as measured by MPI, particularly when effectively channeled into productive investments. The study also highlights the significant positive impact of government expenditure and foreign direct investment (FDI) on human development, underscoring the importance of strategic public investments and foreign capital. The results suggest that while national savings are crucial, their effective utilization is essential for enhancing human development indices. Strategic investments in public goods and foreign capital are also important. The mixed effects of inflation and official development assistance (ODA) emphasize the need for stable economic policies and effective utilization of foreign aid. The modest positive impact of institutional quality suggests that improvements in governance and institutional frameworks can contribute to human development. The findings underscore the need for policies promoting financial inclusion, efficient public expenditure, foreign direct investment, and stable macroeconomic conditions to leverage national savings for economic development. The study's findings provide valuable insights for policymakers in Sub-Saharan Africa, highlighting the need for comprehensive strategies that leverage national savings, public expenditure, and foreign investment to drive sustainable economic development and poverty reduction.
本研究的目的是考察撒哈拉以南非洲十个最贫穷国家的国民储蓄对经济发展的影响，经济发展以人类发展指数（HDI）、不平等调整后的人类发展指数（iHDI）和多维贫困指数（MPI）来衡量。该研究采用序列广义矩方法（GMM）分析来解决潜在的内生性问题，并考虑到关系的动态性质，涵盖2009年至2019年期间。研究结果揭示了国民储蓄与选定的发展指标之间的复杂关系。虽然国民储蓄对HDI和iHDI有积极影响，但在所有序列模型中，结果在统计上并不一致显著。然而，分析表明，国民储蓄对以MPI衡量的减少多维贫困有积极影响，特别是当有效地用于生产性投资时。该研究还强调了政府支出和外国直接投资（FDI）对人类发展的显著积极影响，突出了战略公共投资和外国资本的重要性。结果表明，虽然国民储蓄至关重要，但其有效利用对于提高人类发展指数至关重要。对公共产品和外国资本的战略投资也很重要。通货膨胀和官方发展援助（ODA）的混合影响强调了稳定经济政策和有效利用外国援助的必要性。制度质量的适度积极影响表明，治理和制度框架的改善有助于人类发展。研究结果强调了需要制定促进金融包容性、高效公共支出、外国直接投资和稳定宏观经济条件的政策，以利用国民储蓄促进经济发展。该研究的结果为撒哈拉以南非洲的政策制定者提供了宝贵的见解，突出了需要全面战略来利用国民储蓄、公共支出和外国投资来推动可持续经济发展和减贫。
