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Public Investment and Competitiveness in ECOWAS: An Empirical Investigation

Chapter
Part of the Advances in African Economic, Social and Political Development book series (AAESPD)

Abstract

The paper, using regression analysis, ascertains whether public investment and competitiveness enhance economic growth and development in the economies of ECOWAS. Panel data results show that public investment, government consumption democracy have positive impact on growth while openness, private investment and inflation show negative relationship under fixed effects analysis. Similar arguments have positive and negative relationships with economic development and are statistically significant. The vector error correction estimates indicate various speed of adjustments from short to long-run equilibrium conditions.

Keywords

Public investment Government spending Democracy Competitiveness 

JEL Classification

013 021 054 

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Copyright information

© Springer International Publishing Switzerland 2017

Authors and Affiliations

  1. 1.West African Institute for Financial and Economic Management (WAIFEM)LagosNigeria

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