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Industrialization and Economic Development in Sub-Saharan Africa: The Role of Infrastructural Investment

In: Sustainable Education and Development – Sustainable Industrialization and Innovation

Author

Listed:
  • Rachel Jolayemi Fagboyo

    (Samuel Adegboyega University)

  • Rufus Adebayo Ajisafe

    (Obafemi Awolowo University)

Abstract

Purpose: This paper studied the role of infrastructural investment in the nexus between industrialization and Economic Development in 13 Sub-Sahara ranging from 2003 to 2020. Design/Methodology/Approach: The study employed the panel least square technique to examine the relationship between the variables. Findings: Findings indicates that industry value added and transport index had a significant positive effect on economic development in the Sub-Sahara Africa. Analysis suggests that low industrial activities which is largely due to poor infrastructure affect economic development negatively in the region. Implications/Research Limitations: This study can be expanded further by adding more indicators of infrastructure investment which plays an important role in industrialization and in turn can lead to economic development. Practical Implications: The government in these regions should invest in infrastructure as these will improve industrialization as well as expand economic growth. To achieve this, the government should sign a partnership deal with other developed countries who are vast in infrastructural development. Originality/Value: The authenticity of this study lies on the premise that it is a cross-country study as against extant studies which focus were country specific. Also, the study examined the mediating role of infrastructural investment on the nexus between industrialization and Economic growth in an emerging economy like Sub-Saharan Africa.

Suggested Citation

  • Rachel Jolayemi Fagboyo & Rufus Adebayo Ajisafe, 2023. "Industrialization and Economic Development in Sub-Saharan Africa: The Role of Infrastructural Investment," Springer Books, in: Clinton Aigbavboa & Joseph N. Mojekwu & Wellington Didibhuku Thwala & Lawrence Atepor & Emmanuel Adi (ed.), Sustainable Education and Development – Sustainable Industrialization and Innovation, pages 143-152, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-25998-2_11
    DOI: 10.1007/978-3-031-25998-2_11
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