Abstract: The preoccupation of this study is to examine the cointegrating relationship and direction of causality between trade openness, foreign direct investment, domestic investment, government expenditure and economic growth for a panel of 17 highly aid-dependent sub-Sahara African countries, for the period 1975-2010. The selected countries are: Benin, Botswana, Burkina Faso, Cameroon, Cote d’Ivoire, Gabon, Gambia, Ghana, Kenya, Liberia, Malawi, Nigeria, Senegal, Sierra Leone, Togo, Zambia and Zimbabwe. The Kao and the Johansen-Fisher panel cointegration tests identify cointegrating relationships between the panel variables. The long-run effects of trade openness, domestic investment and government expenditure on economic growth are significantly positive. However, the long-run effect of foreign direct investment on economic growth is insignificant. The direction of causality between the panel variables is also examined by performing the test on the first-differenced variables. Since, the long-run elasticities of economic growth with respect to trade openness, domestic investment and government expenditure are greater than the short-run elasticities, it is recommended that greater openness to international trade and increases in domestic investment and government expenditure will expectedly raise the economic growth of the sub-Sahara African countries.