TRADE OPENNESS AND ECONOMIC GROWTH IN SUB-SAHARAN AFRICA: A DYNAMIC PANEL DATA ANALYSIS

Tajudeen Egbetunde () and Ibrahim Alley ()
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Tajudeen Egbetunde: Department of Economics, Postal: Federal University of Technology, Akure, Nigeria, https://fssunilorinedu.org/ijbss/index.php
Ibrahim Alley: Department of Economics, Postal: Fountain University, Osogbo, Nigeria,, https://fssunilorinedu.org/ijbss/index.php

Ilorin Journal of Business and Social Sciences, 2016, vol. 18, issue 1, 153-169

Abstract: The paper examines the impact of trade openness on economic growth in subSaharan Africa as well as the role that Foreign Direct Investment (FDI) plays in the nature of relationship between trade openness and economic growth in the region. The paper used dynamic panel General Method of Moment (GMM) in estimating the data. The data used were sourced from World Development Indicators (WDI) and United Nations Conference on Trade and Development (UNCTAD). Results of the dynamic panel GMM show that trade openness had positive impact on economic growth in sub-Saharan Africa. The results further reveal that FDI played a positive role in the effect of trade openness on economic growth in the countries. The paper concludes that FDI enhances trade openness as a means to further developing economic activities in sub-Saharan Africa.

Keywords: Trade openness; economic growth; sub-Saharan Africa; FDI yield. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ilojbs:0008

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