@article{MAKHILLJET20148228558,
    title = {A Dynamic Panel Analysis of the Determinants of Economic Growth in Some Selected Sub-Sahara African Countries},
    journal = {Journal of Economics Theory},
    volume = {8},
    number = {2},
    pages = {32-37},
    year = {2014},
    issn = {1994-8212},
    doi = {jeth.2014.32.37},
    url = {https://makhillpublications.co/view-article.php?issn=1994-8212&doi=jeth.2014.32.37},
    author = {Joseph Ayoola},
    keywords = {Dynamic panel,trade openness,investment,,economic growth,Nigeria},
    abstract = {The preoccupation of this study is to examine the cointegrating 
  relationship and direction of causality between trade openness, foreign direct 
  investment, domestic investment, government expenditure and economic growth 
  for a panel of 17 highly aid-dependent sub-Sahara African countries, for the 
  period 1975-2010. The selected countries are: Benin, Botswana, Burkina Faso, 
  Cameroon, Cote d’Ivoire, Gabon, 
  Gambia, Ghana, Kenya, Liberia, Malawi, Nigeria, Senegal, Sierra Leone, Togo, 
  Zambia and Zimbabwe. The Kao and the Johansen-Fisher panel cointegration tests 
  identify cointegrating relationships between the panel variables. The long-run 
  effects of trade openness, domestic investment and government expenditure on 
  economic growth are significantly positive. However, the long-run effect of 
  foreign direct investment on economic growth is insignificant. The direction 
  of causality between the panel variables is also examined by performing the 
  test on the first-differenced variables. Since, the long-run elasticities of 
  economic growth with respect to trade openness, domestic investment and government 
  expenditure are greater than the short-run elasticities, it is recommended that 
  greater openness to international trade and increases in domestic investment 
  and government expenditure will expectedly raise the economic growth of the 
  sub-Sahara African countries.}
    }