ECONOMIC INTEGRATION AND ECONOMIC DEVELOPMENT IN WEST AFRICA


By

Udoh, Aniefiok Benedict; Ph.D Candidate

Department of Economics

University of Calabar

Aniefiok.benedict@gmail.com

+234 8034042129

 

Antai, Agnes Sylvester; Ph.D

Senior Lecturer, Department of Economics

Unievrsity of Calabar

asylvesterantai@gmail.com

+234 8037236629

 

Nelson, Iboro Ekpo;Ph.D Candidate

Department of Economics

University of Uyo

jesusiboro@yahoo.com

+234 7037616841

 

Abstract

This study is aimed at providing empirical evidence of the links between international trade and economic development among the West African economies. Existing literature relates trade regimes to export growth as well as export growth to economic growth. This implies that there is both direct and indirect relationship between trade policies, export performance and growth. The study adopts a cross-country panel regression for selected West African countries that explains trade shares (export and import) in GDP. Two equations are estimated for export and import shares separately and a growth model for the same group of countries is estimated. However, to take into account the simultaneity problem (of countries) these three panel regressions were re-estimated simultaneously using the full information maximum likelihood method and the result compared. The result reveals that export promotes economic growth across the countries under study.


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