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Knowledge as Determinant of Total Factor Productivity in West African Economic and Monetary Union (WAEMU)

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  • Nogbou Andetchi Aubin Amanzou

    (Université Virtuelle de Côte d’Ivoire
    Centre Suisse de Recherches Scientifiques en Côte d’Ivoire)

  • Alliou Salihini Diarrassouba

    (Université Jean Lorougnon Guédé de Daloa)

  • Arthur Evariste Kouassi

    (Université Virtuelle de Côte d’Ivoire)

  • Konan Jacques Konan

    (Unversité Alassane Ouattara de Bouaké)

Abstract

Knowledge is increasingly analysed in growth models as a proxy of total factor productivity (TFP). However, the link between TFP and knowledge is strongly relevant in the theory, the empirical link is not yet clearly elucidated. This study aims to analyse some type of knowledge in order to underline the main type of knowledge able to represent the TFP in growth models. To reach that aim, we used the econometric model of Rao. As results, we noticed that technology and education act positively on economic growth while institution and innovation act negatively on economic growth in WAEMU. In case that we combine two proxies of TFP, the association of education and technology is the best choice. So, if the combination of the variables concerns three proxies, it is better to use technology, education, and institution. This study also showed that innovation affects badly labour in WAEMU. So government has to encourage technology production and importation in WAEMU in order to boost the economic growth in WAEMU.

Suggested Citation

  • Nogbou Andetchi Aubin Amanzou & Alliou Salihini Diarrassouba & Arthur Evariste Kouassi & Konan Jacques Konan, 2024. "Knowledge as Determinant of Total Factor Productivity in West African Economic and Monetary Union (WAEMU)," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 14405-14419, September.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:3:d:10.1007_s13132-023-01609-x
    DOI: 10.1007/s13132-023-01609-x
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    Keywords

    Total factor productivity; Knowledge; Economic growth; Education; Technological innovation; Communications equipment;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • L63 - Industrial Organization - - Industry Studies: Manufacturing - - - Microelectronics; Computers; Communications Equipment

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