ECONOMIC GROWTH AND ITS DETERMINANTS: A CROSS-COUNTRY EVIDENCE

Adepoju Adedayo A. () and Ogundunmade Tayo P. ()
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Adepoju Adedayo A.: Department of Statistics, University of Ibadan, Oyo State, Nigeria .
Ogundunmade Tayo P.: Department of Statistics, University of Ibadan, Oyo State, Nigeria .

Statistics in Transition New Series, 2019, vol. 20, issue 2, 69-84

Abstract: Empirical evidence from a panel of 126 countries, over the time period of 2010 to 2014, indicates that economic growth is dependent on various factors. This paper finds that government expenditure control, reduced inflation and increased trade openness are the factors that boost the economic growth of a country. Significant evidence is seen for government consumption, fiscal policy and trade openness. No significant relationship has been observed between exchange rate and economic growth, whereas unemployment influences output for African countries. The cross regional analysis of Asian, European, African, Caribbean, and American countries gives specific determinants for these regions. Economic growth is also analysed in developing, developed, least developed, Muslim and petroleum exporting and emerging countries.

Keywords: economic growth; panel data analysis; growth determinants. (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:stintr:v:20:y:2019:i:2:p:69-84:n:10

DOI: 10.21307/stattrans-2019-015

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