By Diery Seck
The ebook presents an in depth research of the explanations of West Africa’s present fiscal high-growth episode and proposes how one can expand it sustainably. It examines the aptitude function of neighborhood integration during the institution of a standard forex union and of alternative coverage thoughts that could improve monetary development. The authors recommend applicable equipment of coordination among macroeconomic coverage and industrialization to accomplish better monetary progress and likewise learn why pro-poor innovations haven't been profitable. The booklet underscores the demanding situations and possibilities that would come up from the structural switch to the region’s economies because of the mandatory funding in production exports, ICT and infrastructure, that are key cars for prolonged development. Readers will learn the way the quarter can higher achieve its developmental ambitions through securing and perpetuating political liberty and transactional freedom for all its electorate.
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Extra info for Accelerated Economic Growth in West Africa
2 % during the period 2000–2005 (see Table 3). 9 % in 2009. 1 % at the height of the global economic crisis. 5 % during the same period. These growth rates were driven by high mineral and commodity export prices. In terms of real GDP per capita, for the period 2005–2013, almost all the countries showed growth rates higher than that of the growth of population. H. 3 Source: African Development Bank. 1) Growth Without Development in West Africa: Is It a Paradox? 8 Source: WAIFEM annual report, various issues real GDP per capita is a proxy for development, does it imply that the economy of Sierra Leone is experiencing growth and development?
Growth of total factor productivity was negative in 7 of the 14 countries, during the period 1980–2012 and where it was positive, it was low in most of the countries. 2 % respectively. In the two countries with relative strong growth of total factor productivity, the contribution of capital to growth during the period was negative. This emanated from negative growths in real capital in the two countries (Nigeria and Cote d’Ivoire). 5 %) during the period 1980–2012. Hence growth of the region during the period 1980–2012 was driven more by factor accumulation, especially capital but not factor productivity, which is what sustains long run growth and development.
0 Growth Accounting in ECOWAS Countries: A Panel Unit Root and Cointegration. . O. D. Korsu emphasis has to be placed by policymakers on their drive towards sustainable growth that is inclusive. There are studies at country specific levels on the issue but a holistic study on ECOWAS Countries is not a common place in the literature. For example, Dike (1995) and Kallon (2013) where on Nigeria and Sierra Leone respectively. There are also studies on group of countries, for example, Zelleke and Sraiheen (2012) for 31 sub-Sahara African countries and Shaaeldin (1989) on Tanzanian, Zambia and Zimbabwe.
Accelerated Economic Growth in West Africa by Diery Seck