Growth Without Development in West Africa: Is It a Paradox?

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

Abstract

In the last 15 years, countries in West Africa have had reasonable growth rates averaging about 5 %; growth has been propelled by high prices of commodity exports. The paper examined whether growth has resulted in economic development of the sub-region. The lack of consistent data on relevant economic and social variables such as unemployment, primary and secondary school completion rates prevent a robust analysis of the growth—development nexus. Nonetheless, panel regression results show that public investment and democracy are positively related to economic development while lack of access to sanitation and water reveal a negative relationship to development. In addition, stylized facts show that marginal gains were achieved as regards development indicators. It is important that leaders, policy-makers and technocrats implement policies and programmes that stress sustained growth and inclusive development.

Keywords

Growth Inclusive development West Africa 

JEL Classification

H11 011 

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Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

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

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