By Diery Seck
The publication offers an in depth research of the factors of West Africa’s present monetary high-growth episode and proposes how you can expand it sustainably. It examines the capability position of local integration during the institution of a standard foreign money union and of different coverage techniques which can increase financial development. The authors recommend applicable tools of coordination among macroeconomic coverage and industrialization to accomplish larger fiscal development and likewise research why pro-poor recommendations haven't been profitable. The booklet underscores the demanding situations and possibilities that would come up from the structural switch to the region’s economies caused by the required funding in production exports, ICT and infrastructure, that are key cars for prolonged progress. Readers will learn the way the area can greater succeed in its developmental targets by way of securing and perpetuating political liberty and transactional freedom for all its electorate.
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Extra info for Accelerated Economic Growth in West Africa
In recent times and Growth Without Development in West Africa: Is It a Paradox? 39 in most countries growth has not translated into development; rather than confronting the seeming paradox, economists, especially those in the Bretonwoods Institutions have coined a new concept known as “inclusive growth”. The concept de-emphasizes economic development and thus reduces the role of the state in the growth and development praxis. All economies that have leap frogged from underdevelopment to developed knowledge-based countries have been guided by well thought and executed economic blue prints.
In terms of policy implications, since capital is the greatest contributor to growth in the ECOWAS region, it is imperative for the policy makers to design strategies for labors’ contribution to increase as this would ameliorate income inequality problem. This rests on the idea that ECOWAS Countries are labour surplus and capital scare. As a majority of the people are employed in the agricultural sector, which do not involve huge capital in operation while few individuals have access to capital inequality in income widens.
9 %) are the countries with negative contribution of total factor productivity. This suggests that while capital accumulation was evident in these countries, its productivity was not an opportunity to the countries, implying there was decay in capital quality rather than increase in its quality or productivity. 2 % to growth of output. However, in both countries real capital accumulation was negative. Suggesting that capital declined in real terms but its productivity however increased. 5 %), Growth Accounting in ECOWAS Countries: A Panel Unit Root and Cointegration.