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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2020.1
- 수록면
- 100 - 124 (25page)
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This study simultaneously investigates the macroeconomic and the resource determinants of economic growth in the ECOWAS and the COMESA regions. The objective of this study was to empirically ascertain which of the two determinant is key for growth in both regions. To achieve this, the pool mean group technique of analysis was adopted. Empirical findings from the study analysis suggest that long-run economic growth determination in the ECOWAS region, is more reliant on macroeconomic variables and not resource price. While in the COMESA, the impact of macroeconomic determinants on long-run growth is less. In addition, reliance on resource price for long-run growth in the COMESA is found to be growth decelerating. In the short-run, growth determination in the ECOWAS is highly responsive to resource price negatively, while macroeconomic determinants of growth are weak. However, findings for the COMESA region suggest that short-run growth is highly responsive to macroeconomic determinants negatively, and to resource price positively. Hence, for countries in both regions to achieve sustainable long-term growth, there is the need for improvement in their macroeconomic management.
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참고문헌 (42)
참고문헌 신청
Samson Adeniyi Aladejare / 2018 / Resource Price, Macroeconomic Distortions, and Public Outlay: Evidence from Oil-Exporting Countries / International Economic Journal 32(2):199~218
Alege, P. / 2013 / Sustaining economic development of West African countries: A system GMM panel approach
Anderson, T. W. / 1981 / Estimation of dynamic models with error components / Journal of the American Statistical Association 76:598~606
Anderson, T. W. / 1982 / Formulation and estimation of dynamic models using panel data / Journal of Econometrics 18:47~82
Anyanwu, J. C. / 2014 / Factors affecting economic growth in Africa: Are there any lessons from China? / African Development Review 26(3):468~493
Alege, P. / 2013 / Sustaining economic development of West African countries: A system GMM panel approach
Anderson, T. W. / 1981 / Estimation of dynamic models with error components / Journal of the American Statistical Association 76:598~606
Anderson, T. W. / 1982 / Formulation and estimation of dynamic models using panel data / Journal of Econometrics 18:47~82
Anyanwu, J. C. / 2014 / Factors affecting economic growth in Africa: Are there any lessons from China? / African Development Review 26(3):468~493
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