Institutional transformation as an effective tool for reducing corruption and enhancing economic growth: A panel study of West African countries

2020 ◽  
Author(s):  
Edmund Ntom Udemba ◽  
Ifeoma Onyenegecha ◽  
Godwin Olasehinde‐Williams
Keyword(s):  
Economic Growth ◽  
Panel Study ◽  
West African ◽  
Institutional Transformation ◽  
African Countries

Economic Growth of West African Countries and the Validity of Wagner’s Law: A Panel Analysis

2016 ◽  
Vol 3 (1) ◽  
pp. 71-83 ◽  
Author(s):  
Udo Aniefiok Benedict ◽  
◽  
Effiong Charles Efefiom ◽  
Ogar Ohiama Ochagu ◽  
◽  
...  
Keyword(s):  
Economic Growth ◽  
West African ◽  
Panel Analysis ◽  
African Countries ◽  
Wagner’S Law ◽  
Wagner's Law

scholarly journals Impact of Remittances on Economic Growth: Evidence from Selected West African Countries (Cameroon, Cape Verde, Nigeria and Senegal)

2015 ◽  
Vol 1 (2) ◽  
Author(s):  
Muriel Adarkwa ◽  
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
West African ◽  
Cape Verde ◽  
Series Data ◽  
African Countries ◽  
The World Bank ◽  
Negative Effect ◽  
The Impact ◽  
Positive Effect

Remittances from abroad play a key role in the development of many West African countries. Remittances tend to increase the income of recipients, reduce shortage of foreign exchange and help alleviate poverty. This research examines the impact of remittances on economic growth in four selected West African countries: Cameroon, Cape Verde, Nigeria and Senegal. Using developmentalist, structuralist and pluralist views on remittances, a linear regression was run on time series data from the World Bank database for the period 2000–2010. After a critical analysis of the impact of remittances on economic growth in these four countries, it was found that inflow of remittances to Senegal and Nigeria has a positive effect on these countries’ gross domestic product whereas for Cape Verde and Cameroon it had a negative effect. Cameroon benefitted the least from remittances and Nigeria benefitted the most within the period. One contribution of this study is the finding that remittance inflows need to be invested in productive sectors. Even if remittances continue to increase, without investment in productive sectors they cannot have any meaningful impact on economic growth in these countries.

scholarly journals Econometrics Analysis of the Relationship between Climate Change and Economic Growth in Selected West African Countries

2020 ◽  
Vol 10 (2) ◽  
pp. 39
Author(s):  
Ebrima K. Ceesay ◽  
Hafeez O. Oladejo ◽  
Prince Abokye ◽  
Ogechi N. Ugbor
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Rural Areas ◽  
Poverty Reduction ◽  
Random Effect ◽  
West African ◽  
Estimation Methods ◽  
African Countries ◽  
Climate Change Effects ◽  
The Government

Linkages between Climate Change, Economic Growth and Poverty Reduction have become increasingly popular in local and international communities. This is due to the fact that we are currently facing pressing issues about climate change and poverty reduction effects in our planet. In this paper an empirical testing of the effects of Climate Change, Economic Growth and Poverty Reduction was carried out. Panel estimation methods of fixed effect, random effect, and panel unit root test-fisher type with trend and constant were applied. From the results, shows that economic growth has a negative and highly significant effect on the growth of poverty in the selected West African countries. Using growth rate of economics as dependent variable, the result shows that growth of poverty is highly significant. The population living in rural areas is significant with growth of poverty and highly significant with growth of food security. The policy recommendation is that the government of the west African countries should put in place strategies to reduce poverty, climate change effects on economics growth by following measures; to have strong institution and avoidance of corruption.Such strategies contain to counter climate change effects and increase the resilience of the economy, society and country in general.

scholarly journals THE SAVINGS-TRADE-FISCAL GAP MODEL: APPLICATION IN SELECTED WEST AFRICAN STATES

2017 ◽  
Author(s):  
Efayena Oba Obukohwo ◽  
Buzugbe Patricia Ngozi
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Policy Making ◽  
Government Expenditure ◽  
Negative Relationship ◽  
Estimation Method ◽  
West African ◽  
Gap Model ◽  
African Countries ◽  
The Impact

With most African economies experiencing adverse economic misalignment in recent times, the need of enhancing the growth process cannot be overemphasized. Using a typical Savings-Trade-Fiscal Gap Model, the paper employed panel data estimation method to examine the impact of savings, trade and fiscal gap on economic growth of 15 West African countries. The paper finds a negative relationship between net trade and economic growth, while savings and government expenditure impacts positively on economic performance. The paper thus, among recommended that it is appropriate for all countries to eliminate fiscal dominance from monetary policy-making, reduce public debt and establish institutions that promote and encourage counter-cyclical fiscal policy, develop their financial systems, establish credibility in fiscal and monetary policy-making as well as encourage trade.

Energy Intensity and Economic Growth in Selected West African Countries

2020 ◽  
Author(s):  
Obindah Gershon ◽  
Morgan Manuchim Wopara ◽  
Romanus Osabohien
Keyword(s):  
Economic Growth ◽  
Energy Intensity ◽  
West African ◽  
African Countries

scholarly journals Manufacturing Sector and Economic Growth: A Panel Study of Selected African Countries

2019 ◽  
Vol 4 (3) ◽  
pp. 114-130
Author(s):  
Clement Moyo ◽  
Leward Jeke
Keyword(s):  
Economic Growth ◽  
Manufacturing Sector ◽  
Panel Study ◽  
Commodity Prices ◽  
Value Added ◽  
African Countries ◽  
Policy Makers ◽  
System Gmm ◽  
The Impact ◽  
Determinants Of Economic Growth

Objective – The manufacturing sector plays an important role in any economy. However, Africa has experienced significant deindustrialisation over the last few decades, whilst economic growth has been on an upward trend over the same period. The high growth rates have mostly been propelled by improved macroeconomic stability and the commodity price boom. Further, the slowdown in commodity prices has recently caused a deceleration of economic growth which begs the question: Does promoting the manufacturing sector result in higher and sustainable economic growth and reduce unemployment? This study assesses the impact of the manufacturing sector on economic growth in 37 African countries. Methodology/Technique – This study employs the System-GMM Model for the period between 1990 and 2017. This technique is ideal as the number of cross-sectional units is greater than the number of time periods. This technique also caters for problems of endogeneity and heteroscedasticity. Findings – The results show that manufacturing value has a positive effect on economic growth in African countries. Therefore, it is recommended that policy makers enact measures to boost manufacturing output. Novelty –The deceleration of economic growth in African countries coupled with high unemployment and poverty levels has brought the issue of re-industrialisation into the spotlight. This study is vital for policy makers in African countries who seek to promote economic growth and employment levels. The study contributes to literature in African countries by incorporating variables such as human capital and institutional quality which are major determinants of economic growth. Type of Paper: Empirical. Keywords: Manufacturing Value Added; Economic Growth; African Countries; System-GMM. Reference to this paper should be made as follows: Moyo, C; Jeke, L. 2019. Manufacturing Sector and Economic Growth: A Panel Study of Selected African Countries, J. Bus. Econ. Review 4(3) 114 – 130 https://doi.org/10.35609/jber.2019.4.3(1) JEL Classification: C23, E23, O14, O40.

Dynamic Effects of Foreign Aid, Trade Openness and Fdi on Economic Growth for West African Countries

2022 ◽  
Vol 56 (2) ◽  
pp. 49-63
Author(s):  
Olufemi Muibi Saibu ◽  
Ogbuagu Matthew Ikechukwu ◽  
Philip Ifeakachukwu Nwosa
Keyword(s):  
Economic Growth ◽  
Foreign Aid ◽  
Trade Openness ◽  
West African ◽  
Dynamic Effects ◽  
African Countries

Impact of economic growth on carbon emissions in selected West African countries, 1980–2019

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Richard Osadume ◽  
Edih O. University
Keyword(s):  
Economic Growth ◽  
Carbon Emissions ◽  
Secondary Data ◽  
West African ◽  
World Bank Group ◽  
Economic Activities ◽  
African Region ◽  
African Countries ◽  
Content Type ◽  
The Impact

PurposeThis study investigated the impact of economic growth on carbon emissions on selected West African countries between 1980 and 2019. Simon-Steinmann's economic growth model provides the relevant theoretical foundation. The main objective of this study was to ascertain whether economic growth will impact carbon emissions.Design/methodology/approachThe study selected six-sample countries in West Africa and used secondary data obtained through the World Bank Group online database covering the period 1980–2019, employing panel econometric methods of statistical analysis.FindingsThe outcome indicates that the independent variable showed a positively significant impact on the dependent variable for the pooled samples in the short-run, with significant cointegration.Research limitations/implicationsThe study concluded that economic growth significantly impacts the emissions of carbon, and a 1% rise in economic growth will result to 3.11121% unit rise in carbon emissions.Practical implicationsPolicy implementation should encourage the use of energy efficient facilities by firms and government and the establishment of carbon trading hubs.Social implicationsFailure by governments to heed the recommendations of this research will result to serious climate change issues on economic activities with attendant consequences on human health within the region and globally.Originality/valueThis is one of the comprehensive works on subject covering the West African region within the continent.

Does FDI and economic growth harm environment? Evidence from selected West African countries

2020 ◽  
pp. 1-15
Author(s):  
Ahmed Malumfashi Halliru ◽  
Nanthakumar Loganathan ◽  
Asan Ali Golam Hassan
Keyword(s):  
Economic Growth ◽  
West African ◽  
African Countries

scholarly journals Differences in Colonial Experience and the Institution-Economic Growth Nexus in West Africa

2020 ◽  
Vol 13 (2) ◽  
pp. 27-58
Author(s):  
Isiaka Akande Raifu ◽  
Obianuju Ogochukwu Nnadozie ◽  
Olaide Sekinat Opeloyeru
Keyword(s):  
Economic Growth ◽  
West Africa ◽  
West African ◽  
African Countries ◽  
Institutional Variables ◽  
Panel Data Estimation ◽  
Quality Of Institutions ◽  
Colonial Experience ◽  
The Impact

Does the quality of institutions affect economic growth in West African countries? Which institutional variable aids or harms economic growth in the region? Is the effect of institutions on economic growth in former French-colonised countries different from that of British-colonised countries? This study addresses these questions. Specifically, we first examined the effect of six institutional variables on economic growth for each of the 13 West African countries. Then, we employed panel data estimation techniques to examine the overall effect of the quality of institutions on the economies of the region. Finally, we grouped the 13 countries into French-colonised and British colonised countries following the argument of Acemoglu, Johnson and Robinson (2001,2005) and then examined the impact of institutional quality on the economic growth of these subgroups. Our findings reveal that the effect of institutional variables on the economy of each country varies. Overall, we find that government stability and democratic accountability have a positive and significant influence on economic growth, while control of corruption and socioeconomic conditions have deleterious effects on economic growth. Finally, institutions contribute positively to economic growth in French-colonised countries compared to British-colonised countries. The results imply that there is a need to strengthen institutions in West Africa, especially in former British colonies.

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