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Impact of Innovation and Trade Participation on Economic Growth Among Selected African Countries

Author

Listed:
  • Victor Ushahemba Ijirshar

    (Benue State University, Makurdi)

  • Isa Jibrin Okpe

    (Benue State University, Makurdi)

  • Jerome Terhemba Andohol

    (Benue State University, Makurdi)

Abstract

This study examines the impact of innovation and trade participation on economic growth among selected African countries from 1996 to 2021. This study applied nonstationary heterogeneous panel models utilizing pooled mean group estimators, mean group estimators and dynamic fixed effects estimators. Based on the results of the Hausman test, the PMG estimator was considered for the data analysis. The study revealed the significant role of industrial design, patents, trademarks, research and development, exports, and balanced trade policies in driving long-term economic growth in Africa. The synergies between innovation and trade participation are studied, emphasizing their amplified impact on economic growth. The study suggests practical policy recommendations for the selected African countries, urging governments to establish innovation ecosystems, encourage investments in design, strengthen intellectual property protection, prioritize infrastructure development, and develop balanced trade policies. Focusing on SMEs, offering incentives for research and development, and establishing trade promotion agencies are also recommended to create a conducive environment for innovation, trade, and sustained economic growth.

Suggested Citation

  • Victor Ushahemba Ijirshar & Isa Jibrin Okpe & Jerome Terhemba Andohol, 2024. "Impact of Innovation and Trade Participation on Economic Growth Among Selected African Countries," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 71(4), pages 519-546, December.
    • Handle: RePEc:aic:saebjn:v:71:y:2024:i:4:p:519-546:n:3
    DOI: 10.47743/saeb-2024-0024
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