IDEAS home Printed from https://ideas.repec.org/a/taf/intecj/v34y2020i1p100-124.html
   My bibliography  Save this article

Macroeconomic Vs. Resource Determinants of Economic Growth in Africa: A COMESA and ECOWAS Study

Author

Listed:
  • Samson Adeniyi Aladejare

Abstract

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.

Suggested Citation

  • Samson Adeniyi Aladejare, 2020. "Macroeconomic Vs. Resource Determinants of Economic Growth in Africa: A COMESA and ECOWAS Study," International Economic Journal, Taylor & Francis Journals, vol. 34(1), pages 100-124, January.
    • Handle: RePEc:taf:intecj:v:34:y:2020:i:1:p:100-124
    DOI: 10.1080/10168737.2019.1663439
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10168737.2019.1663439
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10168737.2019.1663439?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aladejare, Samson Adeniyi, 2022. "Natural resource rents, globalisation and environmental degradation: New insight from 5 richest African economies," Resources Policy, Elsevier, vol. 78(C).
    2. Emmanuel Opoku & Kwasi Poku & Daniel Domeher, 2024. "Financial Inclusion, Human Capital Development and Economic Growth in Africa: An Examination of the Transmission Channel," SAGE Open, , vol. 14(3), pages 21582440241, August.
    3. Aladejare, Samson Adeniyi, 2023. "Economic prosperity, asymmetric natural resource income, and ecological demands in resource-reliant economies," Resources Policy, Elsevier, vol. 82(C).
    4. Byaro, Mwoya & Pelizzo, Riccardo & Kinyondo, Abel, 2023. "What are the Main Drivers Behind the Acceleration of Tanzania's Economic Growth Over the Past Three Decades?," African Journal of Economic Review, African Journal of Economic Review, vol. 11(4), June.
    5. Ebi, Bassey Okon & Aladejare, Samson Adeniyi, 2022. "Oil Price Transmission, Deficit Financing and Capital Formation," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(1), pages 123-133.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:intecj:v:34:y:2020:i:1:p:100-124. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RIEJ20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.