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All Journal JURNAL EKONOMI DAN BISNIS AIRLANGGA Journal of Enterprise and Development (JED)
Ajayi, Felix Odunayo
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Economics, Econometrics & Finance

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Journal : Journal of Enterprise and Development (JED)

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Trade openness, poverty, and sustainable development: Testing for causality using Dumitrescu-Hurlin approach Balogun, Adewale Musliudeen; Adelowokan, Oluwaseyi Adedayo; Ajayi, Felix Odunayo; Ogede, Jimoh Sina
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.8572

Abstract

Purpose — This research paper explores the causal links between trade openness, poverty, and sustainable development, shedding light on the potential impact of trade policies on poverty reduction and sustainable development in the Economic Community of West African States (ECOWAS) region.Method — We utilize the Dumitrescu-Hurlin (DH) panel causality test, a robust econometric approach capable of discerning the direction and magnitude of causal relationships among variables. We employ a comprehensive dataset spanning from 1986 to 2020, covering ECOWAS countries, to conduct a rigorous empirical analysis.Result — The empirical findings from the DH causality analysis reveal a unidirectional relationship between trade openness, human capital investment, and both sustainable development and poverty. Additionally, bidirectional causality relationships are observed between human capital investment and poverty. The results also highlight the absence of a consistent and uniform pattern of Granger causality between poverty and sustainability across individual West African economies. This heterogeneity underscores the need for customized policy approaches based on empirical evidence derived from country-specific causality analyses, rather than adopting one-size-fits-all solutions.Novelty  — This research stands out by exploring the causal connections among trade openness, poverty, and sustainable development within the Economic Community of West African States (ECOWAS) region. The adoption of the Dumitrescu-Hurlin (DH) panel causality test enhances the empirical analysis, offering a comprehensive understanding of both the direction and magnitude of these relationships.
Trade openness, poverty, and sustainable development: Testing for causality using Dumitrescu-Hurlin approach Balogun, Adewale Musliudeen; Adelowokan, Oluwaseyi Adedayo; Ajayi, Felix Odunayo; Ogede, Jimoh Sina
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.8572

Abstract

Purpose — This research paper explores the causal links between trade openness, poverty, and sustainable development, shedding light on the potential impact of trade policies on poverty reduction and sustainable development in the Economic Community of West African States (ECOWAS) region.Method — We utilize the Dumitrescu-Hurlin (DH) panel causality test, a robust econometric approach capable of discerning the direction and magnitude of causal relationships among variables. We employ a comprehensive dataset spanning from 1986 to 2020, covering ECOWAS countries, to conduct a rigorous empirical analysis.Result — The empirical findings from the DH causality analysis reveal a unidirectional relationship between trade openness, human capital investment, and both sustainable development and poverty. Additionally, bidirectional causality relationships are observed between human capital investment and poverty. The results also highlight the absence of a consistent and uniform pattern of Granger causality between poverty and sustainability across individual West African economies. This heterogeneity underscores the need for customized policy approaches based on empirical evidence derived from country-specific causality analyses, rather than adopting one-size-fits-all solutions.Novelty  — This research stands out by exploring the causal connections among trade openness, poverty, and sustainable development within the Economic Community of West African States (ECOWAS) region. The adoption of the Dumitrescu-Hurlin (DH) panel causality test enhances the empirical analysis, offering a comprehensive understanding of both the direction and magnitude of these relationships.
Co-Authors Adegboyega, Soliu Bidemi Adelowokan, Oluwaseyi Adedayo Atoyebi, Olayinka E. Atoyebi, Olayinka Esther Balogun, Adewale Musliudeen Odusanya, Ibrahim Abidemi Ogede, Jimoh Sina Siyanbola, Adedamola Akeem Yinusa, Olumuyiwa Ganiyu