European Academic Research ISSN 2286-4822
ISSN-L 2286-4822
Impact Factor: 3.4546 (UIF)
DRJI Value : 5.9 (B+)
Article Details :
Article Name :
Economic Growth, Foreign Direct Investment and International trade, in 10 West African Countries
Author Name :
IGNATIUS ABASIMI1 XUAN LI
Publisher :
Bridge Center
Article URL :
Abstract :
It’s factual and empirically evidenced that Foreign direct investment and economic growth has a positive relationship with economic development. However, while some schools of thought are of the view that economic growth attracts foreign investment some are pessimistic that foreign investment promotes economic growth. Economic globalization and liberalization have also paved way for international trade and international capital inflows and outflows. It’s against this background that this study was conducted to investigates the relationship between economic growth, foreign direct investment and international trade in 10 West African countries; namely, Ghana, Togo, Nigeria, Burkina Faso, Benin, Cote D’Ivoire, Gambia, Mali, Sierra Leone and Niger. The empirical output from the random effect analysis revealed that economic growth can swell and heighten in these 10 West African economies through foreign direct investment, openness to trade and trade freedom. It’s therefore recommended that these economies should create a conducive and enabling environment to attract investors as well as taking strategic domestic policies to magnify and boost their agricultural and export sectors for potential gains in the global market of trade.
Keywords :
Foreign direct investment, economic growth, international trade, random effect, West Africa.

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