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Policy Mix, Convergence and Growth in ECOWAS Countries

Authors: ONAKOYA Adegbemi

Publication Type: Journal article

Journal: Journal Of Economics And Sustainable Development

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Abstract

Over the decades, the concepts of This study attempts to examine the convergence of macro-economic policy variables among Economic Community of West African Countries (ECOWAS); examines the nature of convergence of macroeconomic policy variables among ECOWAS countries and analyze the impact of convergence in policy mix on growth in ECOWAS countries. This was in view of examining policy mix, convergence and growth in ECOWAS countries. The study deploys the endogenous growth framework of SolowSwan (1956) as modified by Ramsey using the Cobb Douglas production function for both the convergence equation and growth equation. The study employed Panel Ordinary Least Square method on panel annual timeseries data and analyzed with fixed-effect since a common attribute is expected from the selected countries. Panel unit root data tests were conducted in order to determine whether the series has a problem of unit-root using Dickey-Fuller. The finding of the study showed that all the selected countries diverge in their fiscal variables while they converge in monetary policy. Hence the study recommended that future researches based on regions and geographical zones so as to account for economic integration issues and linkages among African countries.

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ONAKOYA,A. . (0000). Policy Mix, Convergence and Growth in ECOWAS Countries, 4 (), 69-69.

ONAKOYA,A. . "Policy Mix, Convergence and Growth in ECOWAS Countries" 4, no (), (0000): 69-69.

ONAKOYA,A. and . (0000). Policy Mix, Convergence and Growth in ECOWAS Countries, 4 (), pp69-69.

ONAKOYAA, . Policy Mix, Convergence and Growth in ECOWAS Countries. 0000, 4 ():69-69.

ONAKOYA,Adegbemi , . "Policy Mix, Convergence and Growth in ECOWAS Countries", 4 . (0000) : 69-69.

O.Adegbemi , "Policy Mix, Convergence and Growth in ECOWAS Countries" vol.4, no., pp. 69-69, 0000.

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