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The Impact of Foreign Direct Investment on Economic Growth in the Economic Community of West African States

African Journal of Economic Policy

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Title The Impact of Foreign Direct Investment on Economic Growth in the Economic Community of West African States
 
Creator Adamu, PA
Oriakhi, DE
 
Subject Foreign direct investment; Economic growth; Fixed effects model; ECOWAS
 
Description The main objective of this study is to determine the impact of Foreign Direct Investment (FDI) on the economic growth of the countries of the Economic Community of West African States (ECOWAS). The study utilised the fixed effects model to estimate regression coefficients of all ECOWAS countries between 2000 and 2009. The FDI-income ratio, exports and human capital were found to be positively related to economic growth. An important policy recommendation is that ECOWAS countries should provide adequate legal and institutional frameworks to protect foreign investors, improve governance, and ratchet up investment incentives to boost FDI inflows and accelerate economic growth.Keywords: Foreign direct investment; Economic growth; Fixed effects model; ECOWASJEL classification: E22, F21, F43, C33, C32
 
Publisher Department of Economics, University of Ibadan
 
Contributor —
 
Date 2014-02-26
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ajol.info/index.php/ajep/article/view/101523
 
Source African Journal of Economic Policy; Vol 20, No 2 (2013); 89-114
1116-4875
 
Language eng
 
Relation http://www.ajol.info/index.php/ajep/article/view/101523/90715
 
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