Menu
Home
Log in / Register
 
Home arrow Economics arrow Accelerated Economic Growth in West Africa
< Prev   CONTENTS

8 Conclusion

This paper analyzed the impact of infrastructure on regional economic growth. Our focus was also on the convergence of per capita GDP in the WAEMU. The analysis was based on the descriptive statistics of the eight WAEMU member-countries observed during the period 1980–2012. These statistical results show a downward trend in the relative difference in per capita GDP in the Union. A conditional convergence model was then estimated using the Arellano and Bond GMM dynamic panel (Arellano and Bond 1991).

The results show that road infrastructure and ICT are key factors for sustainable growth in the WAEMU. These results highlight the critical importance of infrastructure for both structural transformation and regional trade. In this way, infrastructure plays a role in the dynamics of regional integration.

In addition, improvement in other indicators, namely access to education, life expectancy, and physical capital accumulation induce significant gains in growth in the Union. The results of this study suggest an improvement in economic and social infrastructure in the WAEMU otherwise impede progress towards sustainable regional growth. However, the physical infrastructure is only part of the solution; infrastructure services should also be improved in terms of quality and price. These intangible dimensions of infrastructure could be improved only through effective regulation at national and regional levels.

References

Aghion P, Howitt P, Murtin F (2010) Le be´ne´fice de la sante´: un apport des the´ories de la croissance. Revue de l'OFCE 112:88–108

Anyanwu JC, Erhijakpor A (2009) The impact of road infrastructure on poverty reduction in Africa. In: Beasley TW (ed) Poverty in Africa. Nova Science, New York

Arellano M, Bond S (1991) Some tests for specification of panel data: Monte Carlo evidence and an application to employment equations. Rev Econ Stud 58:277–297

Barro R (1991) Economic growth in a cross-section of countries. Q J Econ 106:407–444

Barro R, Sala-I-Martin X (1991) Convergence across states and regions. Brook Pap Econ Act 1:107–182

Barro R, Sala-I-Martin X (1992) Convergence. J Polit Econ 100(2):223–251

Ben Youssef A, Mhenni H (2004) Les effets des Technologies de l'Information et de la communication sur la croissance e´conomique : le cas de la Tunisie. Re´gion et De´veloppement 19:131–150

Berthelemy J, Vadourkakis A (1996) Economic growth, convergence clubs and the role of financial development. Oxf Econ Pap 48(2):300–328

Berthelemy J (2006) Clubs de convergence et e´quilibres multiples : comment les e´conomies e´mergentes ont-elles re´ussi 'a e´chapper au pie`ge du sous-de´veloppement? Revue Economique du De´veloppement 195:5–44

Guillaumont P, Geourjeon A, Gue´rineau S (2012) Evaluation des gains attendus de l'inte´gration e´conomique re´gionale dans les pays africains de la Zone franc, FERDI, Rapport d'Etude

Holtz-Eakin D, Schwartz A (1995) Spatial productivity spillovers from public infrastructure: evidence from state highways. Int Tax Public Financ 2(3):459–468

Mankiw G, Romer D, Weil N (1992) A contribution to the empirics of economic growth. Q J Econ 107(2):407–438

Ondo-Ossa A (1999) La proble´matique de l'inte´gration en Afrique subsaharienne (la cas des pays de la CEMAC). Revue Economie et Gestion, LEA 1(2):24–46

Quah D (1996) Convergence empirics across countries with (some) capital mobility. J Econ Growth 1:95–124

Venables AJ (2000) Les accords d'inte´gration re´gionale: facteurs de convergence ou de divergence ? Revue d'e´conomie du de´veloppement (1–2):227–246

Zhang J, Zhang J, Lee R (2003) Rising longevity, education, savings, and growth. J Dev Econ 70:103–117

 
Found a mistake? Please highlight the word and press Shift + Enter  
< Prev   CONTENTS
 
Subjects
Accounting
Business & Finance
Communication
Computer Science
Economics
Education
Engineering
Environment
Geography
Health
History
Language & Literature
Law
Management
Marketing
Philosophy
Political science
Psychology
Religion
Sociology
Travel