EVALUATION OF EXPORT EXPANSION IMPACT ON THE ECONOMIC GROWTH IN SUB-SAHARAN AFRICA
Journal Title: VADYBA - Year 2016, Vol 29, Issue 2
Abstract
There is no unanimity in the empirical and theoretical literature on the causal relationship between exports and economic growth. Hence, the article aims to investigate empirically how export determines and sustains economic growth in Sub-Saharan Africa using Angola, Cote d’ Ivoire, Nigeria, and South Africa as case studies. The study employs the estimation of the Augmented Dickey Fuller (ADF), unit root, and Granger causality tests to examine the positive effects of export expansion and diversification to economic growth with the aid of a vector auto regression (VAR) model. The empirical results indicate that the total export of the examined countries positively affects their economic growth (GDP) at a rate of 85.7%, 49.1%, 76.9%, and 87%, for Angola, Cote d’ Ivoire, Nigeria, and South Africa respectively. The study suggests appropriate and progressive policies to be implemented in order to diversify and promote exports (including non-oil exports) and construct efficient service infrastructure to support and attract domestic and foreign investment.
Authors and Affiliations
Alieu Gibba
Keywords
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- EP ID EP466730
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