Authors : Sola Olorunfemi and Olorunsola E. Olowofeso
Abstract: This study looked at the impact of export on economic growth in the countries that form the West Africa Monetary Zone (WAMZ) of the ECOWAS countries. The work adopts unit root, cointegration and error correction approaches which are suitable for modeling export and growth in a non-stationary environment. The value of the coefficient of aggregate export for all the countries is low. However, the results indicate that export contributed to growth in the WAMZ countries. Therefore, an improvement in export is advocated to put the nation on the right track of development. The positive and significant coefficient of aggregate export in all the four countries confirms the results from the statistical data that export is the engine of growth in the ECOWAS countries. The study suggested that more accurate export drive be put in place and for import to be redirected.
Sola Olorunfemi and Olorunsola E. Olowofeso , 2006. Time Series Analysis of Export and Economic Growth in the Ecowas Countries. The Social Sciences, 1: 344-350.