Contribution of the Industrial Structure to Economic Growth: the Case of Ecowas

Daniela Ancuta Sarpe, Babacar Ndiaye and Cyril Manga
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Daniela Ancuta Sarpe: Dunarea de Jos University of Galati, Romania
Babacar Ndiaye: Assane Seck University of Ziguinchor, Senegal
Cyril Manga: Cheikh Anta Diop University of Dakar, Senegal

Economics and Applied Informatics, 2017, issue 3, 148-157

Abstract: This paper proposes to determine the weight of industry in the economic growth of the ECOWAS region. The study is based on the zone approach and entirely uses the statistical tool. Thus, in the context of improving the economic performance of the ECOWAS region in terms of economic growth, the low overall rate of change in real GDP per capita (1,95 %) obtained during 1991 and 2014 certifies that enormous efforts are still to be conducted in this community. On the other hand, the small but still appreciable contributions of the value added of the industry to the real GDP of ECOWAS (0,9 % in 2012, 0,8 % in 2013 and 1,5 % in 2014) show that an improvement in the region's industrial structure is enough for the region to see its growth rate increase. In addition, the low evolution of real GDP per capita, which is often short-term, also suggests that economic growth in the ECOWAS region is unstable and heterogeneous. Improved economic performance via growth rate of ECOWAS requires a better valuation of the secondary sector by the authorities. The latter must make this sector a fast growing and diversified growth engine, especially through good industrial policies. In fact, it is mainly about a better valuation of the natural resources of the region, for example of agricultural productions. This could contribute to the endogenous transformation of these products and develop the intra-regional trade, which in turn will lead to regional integration that is also one of the main objectives of the community.

Keywords: Industry; Economic growth; ECOWAS (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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