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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