By Diery Seck
The ebook offers a close research of the motives of West Africa’s present monetary high-growth episode and proposes how you can expand it sustainably. It examines the aptitude position of local integration in the course of the institution of a standard forex union and of alternative coverage recommendations that could increase monetary progress. The authors recommend applicable equipment of coordination among macroeconomic coverage and industrialization to accomplish better financial progress and likewise study why pro-poor options haven't been profitable. The e-book underscores the demanding situations and possibilities that might come up from the structural swap to the region’s economies as a result of the required funding in production exports, ICT and infrastructure, that are key automobiles for prolonged development. Readers will learn the way the quarter can larger achieve its developmental targets by means of securing and perpetuating political liberty and transactional freedom for all its electorate.
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Extra resources for Accelerated Economic Growth in West Africa
Example text
F. 1 Prob. 000014 Prob. O. D. 8 Table 12 shows the contributions of capital accumulation, labour growth and total factor productivity to growth in the ECOWAS countries during the period 1982–2012. The table shows that in seven (7) of the 14 ECOWAS countries in the Sample, total factor productivity made a negative contribution to growth. 4 % respectively). 2 % respectively. 9 %) are the countries with negative contribution of total factor productivity. This suggests that while capital accumulation was evident in these countries, its productivity was not an opportunity to the countries, implying there was decay in capital quality rather than increase in its quality or productivity.
This is confirmed by the fact that the Pedroni and Kao tests for cointegration and the Weterlund test for the existence of panel error correction model (an indirect way of testing for cointegration) all reject the null hypothesis of cointegration between the two variables. O. D. 009 Prob. 963 Table 6 The Johansen Fisher cointegration test Series: LNYPW DLNKPW Sample: 1980–2012 Included observations: 462 Trend assumption: linear deterministic trend Lags interval (in first differences): 1 1 Unrestricted cointegration rank test (trace and maximum Eigenvalue) Hypothesized No.
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