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A Comparative Analysis of the Impact of Agricultural Exports on Economic Growth of ECOWAS Countries

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  • Richardson Kojo Edeme
  • Innocent A. Ifelunini
  • Nelson C. Nkalu

Abstract

Towards the acceleration of the attainment of sustainable growth, most countries have focused on agricultural exports as a means of driving their economy. Developing countries of Africa are highly dependent on the agricultural sector and agricultural exports are a major determinant of economic growth of these countries. However, the impact of agricultural exports on economic growth of ECOWAS countries remains unclear. This study therefore evaluates the impact of agricultural exports on the economic growth of fifteen ECOWAS countries using panel data for the period 1980-2013. Variables employed are labour force participation rate, capital stock, agricultural exports, non-agricultural exports, inflation and economic growth. The results of the fixed-effect model show that agricultural exports have not impacted significantly on the economic growth of ECOWAS countries such as Côte d'Ivoire and Nigeria with respect to the Republic of Benin, which is the selected baseline. The study also analysed the country combined effect of the agricultural exports and found that it was significant but the rate of impact was weak. The study recommends, among others, that even though agricultural exports had a significant impact on economic growth, there is still a need for ECOWAS governments to improve their agricultural sector as its significance is more noticeable in some countries such as Côte d'Ivoire and Nigeria.

Suggested Citation

  • Richardson Kojo Edeme & Innocent A. Ifelunini & Nelson C. Nkalu, 2016. "A Comparative Analysis of the Impact of Agricultural Exports on Economic Growth of ECOWAS Countries," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2016(5), pages 31-46.
    • Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:5:id:556:p:31-46
    DOI: 10.18267/j.aop.556
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    References listed on IDEAS

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    Cited by:

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    2. Sayef Bakari, 2017. "The Impact of Vegetables Exports on Economic Growth in Tunisia," Economic Research Guardian, Weissberg Publishing, vol. 7(2), pages 72-87, December.
    3. Sayef Bakari & Mohamed Mabrouki, 2017. "The Effect Of Agricultural Exports On Economic Growth In South-Eastern Europe: An Empirical Investigation Using Panel Data," Journal of Smart Economic Growth, , vol. 2(4), pages 49-64, December.
    4. R. Ogunniyi, Olajumoke & Abiodun Okunlola, Funso & A. Alatise, Michael, 2021. "Intra-Africa Agricultural Trade And Hunger Reduction: Africa Economic Analysis," Ilorin Journal of Economic Policy, Department of Economics, University of Ilorin, vol. 8(3), pages 36-52, June.
    5. David Adeabah & Simplice A. Asongu, 2021. "Agricultural Export, Growth and the Poor in Africa: A Meta Analysis," Working Papers 21/082, European Xtramile Centre of African Studies (EXCAS).
    6. Sayef Bakari & Mohamed Mabrouki & Asma Elmakki, 2018. "The Nexus Between Industrial Exports And Economic Growth In Tunisia: Empirical Analysis," Journal of Smart Economic Growth, , vol. 3(2), pages 31-53, December.
    7. Salah Eddine SARI HASSOUN & Abdelkader SAHED & Khayereddine Salim ADDA & Asma Hadjira SEBBANE, 2020. "Not a long ago, the agriculture sector was the main pillar of any economy in the world. It not only provides food production, but it participates to the expansion of the economic growth as well. In th," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(623), S), pages 301-324, Summer.
    8. Onoja, Anthony, 2021. "Trends and Determinants of Cereal Productivity Growth in Southern Africa Region: A DEA and Cointegration Approach," 2021 Conference, August 17-31, 2021, Virtual 315915, International Association of Agricultural Economists.
    9. Koliadenko, Svitlana & Andreichenko, Andrii & Galperina, Liubov & Minenko, Sofiia & Kovylina, Maria, 2020. "Analysis and forecasting of Ukrainian agrarian exports to the EU countries," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 6(3), September.
    10. Daniel Francois Meyer, 2019. "An Assessment Of The Importance Of The Agricultural Sector On Economic Growth And Development In South Africa," Proceedings of International Academic Conferences 9912288, International Institute of Social and Economic Sciences.

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    More about this item

    Keywords

    agricultural exports; economic growth; panel data; random effect; fixed effect; ECOWAS;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F2 - International Economics - - International Factor Movements and International Business

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