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Environmental performance and economic growth in the West African economies

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Abstract

The importance of sustainable economic growth has been emphasized by the United Nations Sustainable Development Goals (SDG). SDGs 8 and 11 suggest that a sustainable environment can improve economic growth, which has been the priority for some governments worldwide. This study incorporates the environmental performance index (EPI) into the neoclassical growth model to examine the impact of environmental performance on economic growth for the Economic Community of West African States (ECOWAS). Using the two-step generalized method of moments (GMM) model, the empirical investigation finds a positive relationship between environmental performance and economic growth. More specifically, we find that improved environmental performance is observed to accelerate economic growth in non-oil-producing ECOWAS countries, but diminishes growth in oil-producing ECOWAS countries. Based on the findings, we recommend policies that encourage improved environmental performance in non-oil-producing ECOWAS economies.

Suggested Citation

  • Musibau, Hammed & Yanotti, Maria Belen & Vespignani, Joaquin & Nepal, Rabindra, 2024. "Environmental performance and economic growth in the West African economies," Working Papers 2024-06, University of Tasmania, Tasmanian School of Business and Economics.
    • Handle: RePEc:tas:wpaper:28068248
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    More about this item

    Keywords

    economic growth; environmental performance; ECOWAS; environmental governance; GMM; oil-producing economies;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law

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