GROWTH WITHOUT DEVELOPMENT IN WEST AFRICA: IS IT A PARADOX?


Akpan H. Ekpo

ABSTRACT

In the last fifteen years, countries in West Africa have had reasonably growth rates averaging about 5 percent.  During the global financial crisis, economies in the sub-region registered satisfactory growth rates.  To some extent, growth has been propelled by commodity exports (high prices) particularly in the mining/mineral sector.  In a neo-liberal economic framework, the growth should have resulted in improved standard of living for citizens in the sub-region. In-spite of satisfactory growth trajectory and macroeconomic stability, the economies in the sub-region have very high rates of unemployment, for example.  This paper examines empirically the growth-development nexus in selected countries in the sub-region. It is expected that the outcome of the paper would guide policy design and implementation on how best to organize the growth potentials of the sub-region.


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