Zakaree, Saheed
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Export Diversification and Economic Growth of ECOWAS Member States Olure-Bank, Adeyinka Michael; Mustapha, Muktar; Zakaree, Saheed; Abraham, Alexander; Yakubu, Alfa
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v13i1.37999

Abstract

Research Originality: Using the data of export diversification index which is excluded in previous studies and most the pervious only look at the relationship between ED and GDP, excluding per capita income as basics for development. Again, previous studies results are contradictory on impact of export diversification performance. Additionally, this paper provides robust empirical evidence of a positive effect of export diversification on per capita income growth.Research Objectives: This paper has the objective to examines how export diversification (ED) increase economic growth and per capita income.Research Methods: The paper achieve its objectives using, panel least technique and co-integration test are used on time series data of 1984-2022 for ECOWAS states.Empirical Results: The paper shows that the export diversification index has a significant influence on GDP growth but inverse, however, manufacturing value-added shows weak but a positive influence on the growth per capita income. Again, the paper reveals that high skewness of ECOWAS region to primary products export which could be responsible for the low growth per capita income. The finding of this is not the volume of exported products that matters, but how dynamic is exported products.Implications: The paper therefore recommends ECOWAS countries need to develop processing capability for export that comes from endogenous sufficiency.JEL Classification: C23, F10, O47, O55
Export Diversification and Economic Growth of ECOWAS Member States Olure-Bank, Adeyinka Michael; Mustapha, Muktar; Zakaree, Saheed; Abraham, Alexander; Yakubu, Alfa
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 1 (2024)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v13i1.37999

Abstract

Research Originality: Using the data of export diversification index which is excluded in previous studies and most the pervious only look at the relationship between ED and GDP, excluding per capita income as basics for development. Again, previous studies results are contradictory on impact of export diversification performance. Additionally, this paper provides robust empirical evidence of a positive effect of export diversification on per capita income growth.Research Objectives: This paper has the objective to examines how export diversification (ED) increase economic growth and per capita income.Research Methods: The paper achieve its objectives using, panel least technique and co-integration test are used on time series data of 1984-2022 for ECOWAS states.Empirical Results: The paper shows that the export diversification index has a significant influence on GDP growth but inverse, however, manufacturing value-added shows weak but a positive influence on the growth per capita income. Again, the paper reveals that high skewness of ECOWAS region to primary products export which could be responsible for the low growth per capita income. The finding of this is not the volume of exported products that matters, but how dynamic is exported products.Implications: The paper therefore recommends ECOWAS countries need to develop processing capability for export that comes from endogenous sufficiency.JEL Classification: C23, F10, O47, O55
Infrastructure and economic growth in ECOWAS member states: The Westerlund co-integration approach Kabir Usman, Fadila; Zakaree, Saheed; Muktar, Mustapha; Yakubu, Alfa; Olure-Bank, Adeyinka
Jurnal Perspektif Pembiayaan dan Pembangunan Daerah Vol. 12 No. 1 (2024): Jurnal Perspektif Pembiayaan dan Pembangunan Daerah
Publisher : Program Magister Ilmu Ekonomi Pascasarjana Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/ppd.v12i1.28460

Abstract

This research explores the impact of infrastructure on member states' economic growth in the Economic Community of West African States (ECOWAS). Utilizing panel secondary data sourced from the World Bank Development Indicators (WDI) and the African Infrastructure Development Index (AIDI) across all fifteen ECOWAS Member States over eighteen years, the study employs the panel Non-linear Autoregressive Distributed Lag (NARDL) model and the Westerlund co-integration test for analysis. The findings reveal that investments in infrastructure, improvements in the African Development Index, and enhancements in the Electricity Composite Index significantly contribute to the economic growth of ECOWAS countries. Specifically, infrastructure investment is associated with a 0.01 per cent increase in the Gross Domestic Product (GDP) of the ECOWAS countries studied. In comparison, the African Development Index and the Electricity Composite Index are linked to increases in GDP by 0.292 per cent and 0.987 per cent, respectively, in the long term. Based on these outcomes, the study recommends that ECOWAS country authorities enhance policies to optimize government spending on infrastructure quality. Furthermore, adopting quality-enhancing and efficiency-driven financing policies in infrastructure is advocated to complement ECOWAS's ongoing infrastructural development efforts. The realization of these recommendations hinges on the availability of accurate data for informing decisions and guiding policymakers. Hence, the study underscores the need for the ECOWAS Commission to bolster its capacity for collecting reliable data on infrastructure variables and other indicators. It also proposes that future research should focus on promoting sub-regional peer-review mechanisms for infrastructure indicators among member states and establishing structures to fortify infrastructure in West Africa.