Accelerated Economic Growth in West Africa

The book provides a detailed analysis of the causes of West Africa's current economic high-growth episode and proposes ways to extend it sustainably. It examines the potential role of regional integration through the establishment of a common currency union and of other policy options that can enhance economic growth. The authors suggest appropriate methods of coordination between macroeconomic policy and industrialization to achieve higher economic growth and also examine why pro-poor strategies have not been successful. The book underscores the challenges and opportunities that will arise from the structural change to the region's economies resulting from the necessary investment in manufacturing exports, ICT and infrastructure, which are key vehicles for extended growth. Readers will learn how the region can better reach its developmental goals by securing and perpetuating political liberty and transactional freedom for all its citizens. Diery Seckis Director of the Center for Research on Political Economy (CREPOL), based in Dakar, Senegal. He was Director of the United Nations African Institute for Economic Development and Planning (UNIDEP). Previously he served as Executive Director of the Secretariat for Institutional Support for Economic Research in Africa (SISERA) of Canada's International Development Research Centre (IDRC). Before returning to Africa in 1995, he was Associate Professor of Finance at the University of Windsor in Canada and Economist at the World Bank in Washington D.C. He specializes in financial economics and development economics. Dr. Seck has authored several articles in academic journals and published books on economic development. He was co-editor of the Journal of African Finance and Economic Development. He is currently a member of the Editorial Boards of Global Governance Journal(University of Warwick), and the Journal of African Development. His latest books are entitled NEPAD and the Future of Economic Policy in Africa; Growth and Development in Africa; Back on Track: Sector-led Growth in Africa and Implications for Development; West Africa and the Global Financial Crisis; Regional Integration in West Africa; and Private Sector Development in West Africa.

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Year of publication:	2015 ; 1. Aufl.
Authors:	Seck, Diery
Publisher:	[s.l.] : Springer-Verlag
Subject:	Wirtschaftswachstum \| Economic growth \| Westafrika \| West Africa \| Wirtschaftliche Konvergenz \| Economic convergence \| Industrialisierung \| Industrialization \| Demokratisierung \| Democratization \| Soziale Ungleichheit \| Social inequality

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Extent:	Online Ressource (3948 KB, 211 S.)
Series:	Advances in African Economic, Social and Political Development
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Introduction; Contents; Part I: Analysis of West Africa´s Economic Growth; Impact of Common Currency Membership on West African Countries´ Enhanced Economic Growth; 1 Introduction; 2 Current Economic Situation of West African Economies; 2.1 Historical Economic Growth Performance of ECOWAS Countries; 3 Contingent Claims Approach to Risk Assessment and Pricing of Sovereign Debt; 4 Membership in a Common Currency Union and Riskiness of Sovereign Debt; 5 Conclusion; References; Growth Accounting in ECOWAS Countries: A Panel Unit Root and Cointegration Approach; 1 Introduction; 2 Methodology 2.1 Specification of the Production Function2.2 How the Output Elasticities Are Estimated; 2.3 Data Consideration; 2.4 Estimation Technique for the Specified Model; 3 Empirical Results; 3.1 Panel Unit Root Tests; 3.2 Panel Cointegration and Panel Error Correction Model Test Results; 3.3 The Output per Worker Model; 3.4 Estimating the Productivity of Labour and Capital; 4 Conclusion; References; Growth Without Development in West Africa: Is It a Paradox?; 1 Introduction; 2 Performance of the West African Economy: Stylized Facts; 3 Growth and Development: Review and Theoretical Issues 4 Methodology and Empirics5 Conclusion; References; Group Formation and Growth Enhancing Variables: Evidence from Selected WAMZ Countries; 1 Introduction; 2 Sub-regional Characteristics and Some Stylized Facts; 3 Tests of Cross-Section Dependence; 3.1 Pesaran´s CD Test; 3.2 Friedman´s Test; 3.3 Levene Test; 3.4 Frees´ Test; 3.5 Application of Cross-Sectional Dependence: The CD Test; 3.6 Theoretical Model of Growth Enhancing Variables; 4 Data and Empirical Results of Growth Enhancing Variables; 4.1 Empirical Results and Economic Implications; 4.1.1 Stationarity Tests; 4.1.2 Estimated Results 4.1.3 Post-estimation Analysis5 Conclusion; References; Part II: Political Economy of Economic Growth; Revisiting the African Economic Growth Agenda: Focus on Inclusive and Pro-poor Growth?; 1 Introduction; 2 The Concept of Pro-poor Growth; 3 Regional Evidence of Growth and Poverty Reduction; 4 Country Evidence of Growth and Poverty Reduction; 5 Has the Recent Growth Episode in Africa Been Pro-poor?; 5.1 Analysis of Poverty Growth in Africa; 6 Lessons on Policies for Promoting Inclusive Growth in Africa; 7 Conclusion; References; Freedom, Growth and Development: Evidence from West Africa 1 Introduction2 Which One Leads the Other: Economic Development or Political Liberty? A Debate; 3 Market Transactional and Political Freedoms; 4 Market and Transactional Freedom; 5 Political Liberty; 6 Trust in National Governments in Africa; 7 Civil Liberties, Education and Economic Security; 8 The Power of Freedom to Bring About Development; 9 An ECOWAS Wide Agenda for Political and Market Transactional Freedom; 10 Conclusion; Appendix 1: African Economists and Finance Professionals Speak on Economic Development and Democracy; Last Post Was Made on May 19, 2014; Insufficient Emancipation Poverty vs. Democracy
ISBN:	3-319-16825-8 ; 3-319-16826-6 ; 978-3-319-16826-5 ; 978-3-319-16825-8
Source:	ECONIS - Online Catalogue of the ZBW

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