http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
Foreign capital inflow, infrastructure and role of institutions on economic growth in ECOWAS countries
Foreign capital inflow, infrastructure and good institution are significant variables in explaining long run growth in both developed and developing countries of the world. However, capital gap, decay infrastructures and weak institution has been identified as the main bane affecting the process of growth and development in ECOW AS economies. This study examined the impact of foreign capital inflows, infrastructures and the role of institutions on economic growth across ECOWAS -15 nations with the use of a panel and cross-section for the period of 1981-2017. In line with the Augmented Solow Model, the relationship between capital inflows, infrastructures and the role of institutions on economic growth in the ECOW AS member countries are investigated. To achieve the objectives of this study, quantitative method of analysis was used. The m thods employed are dynamic panel data using Panel Dynamic Ordinary Least Square (PDOLS), Pool mean Group (PMG), Generalised Ordinary Least Square (GLS), and panel-corrected standard errors (PCSEs) to test for the long run relationship. Findings from the Dynamic panel models result showed that economic growth in ECOW AS countries are determined by foreign capital inflows, infrastructures, and strong institution similarities, human capital development, domestic investment and exchange rate. However, weak institutional quality and capital flight among the ECOWAS countries in West Africa have been hindering economic growth of ECOWAS economies. On these premises, th tudy suggested that ECOW AS countries must address the issue of decay infrastructures, capital flight and weak institutional structures within their region in order to enhance sustainable growth in ECOWAS economies. Based on these findings, some policy issues were highlighted, and policy recommendations were developed, economic policies should be targeted at providing a strong institution, encouraging foreign capital a cumulation and, human capital development, especially on foreign direct investment, official development assistance that exerts a positive impact on economic growth of the sub-region. Therefore, the training required to prepare the labour force to work with new technologies and promote efficient enterprise for ECOWAS economies to compete with emerging countries and developed economies.
1. Introduction -- 2. Overview -- 3. Theoretical literature review -- 4. Research methodology -- 5. Discussion of results -- 6. The conclusion, summary and policy implication
Thesis (Degree of Doctor of Philosophy) - Universiti Sultan Zainal Abidin, 2020
Includes bibliographical references (leaves 185-216)