A Comparative Study of Economic Growth in the West African States
Journal of World Economic Research
Volume 6, Issue 6, December 2017, Pages: 75-79
Received: Dec. 18, 2017; Accepted: Jan. 2, 2018; Published: Jan. 19, 2018
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Author
Ndife Chinelo Franca, Department of Business Administration & Management, School of Business Studies, Federal Polytechnic, Oko, Nigeria
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Abstract
A slowdown in the pace of activity has been observed in most ECOWAS countries. Nigeria which is the biggest economy in African managed to struggle out of recently entered recession this year 2017. In all these there is need to critically examine if there has been a significant economic growth in West Africa within the study period, especially in the face of several regional economic integration and treaties existence in West Africa. The Analysis of Variance technique was used to test to variations across the selected countries (column) and over the years (rows). The results of this study have been presented. The result shows that economic growth variables significantly vary across the selected countries but are significantly the same over the years. This implies that economic growth have over the study period been stagnant. There is statistically significant variation in GDP of selected countries but the GDP of the respective countries do not seem to change over the years. There is no significant variation in GDP growth over the years and across the countries. This paper therefore concludes that the West African States and the selected countries in particular have only witnessed a steady growth rate over the years and little variation in countries economic growth within the study period. Furthermore, due to economic integration that is fully functional in the area, economic growth may have been made stable by the existence of common economic policies.
Keywords
GDP, Economic Growth, West African Economy, GDP Growth Rate, GDP Per Capita
To cite this article
Ndife Chinelo Franca, A Comparative Study of Economic Growth in the West African States, Journal of World Economic Research. Vol. 6, No. 6, 2017, pp. 75-79. doi: 10.11648/j.jwer.20170606.12
Copyright
Copyright © 2017 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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