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Basic Infrastructure, Growth and Convergence in WAEMU

In: Accelerated Economic Growth in West Africa

Author

Listed:
  • Béké Tite Ehuitché

    (Felix Houphouët-Boigny University of Cocody-Abidjan)

Abstract

The objective of this study is to analyze the role played by basic infrastructure in the growth and convergence of the economies of the West African Economic and Monetary Union (WAEMU). After a description of the dynamics of the basic infrastructure of WAEMU and a literature review on theories of integration, we will discuss the model of convergence used for this analysis. Data for this study consists of panel data for the eight member countries of WAEMU gathered between 1980 and 2012. Statistical data was retrieved from the World Bank. The conditional convergence model is estimated by GMM in dynamic panel of Arellano and Bond. The results show a phenomenon of conditional convergence in the Union. Moreover, they demonstrate that an improvement in economic and social infrastructure in the region would result from significant gains in per capita income growth.

Suggested Citation

  • Béké Tite Ehuitché, 2016. "Basic Infrastructure, Growth and Convergence in WAEMU," Advances in African Economic, Social and Political Development, in: Diery Seck (ed.), Accelerated Economic Growth in West Africa, edition 127, pages 197-211, Springer.
    • Handle: RePEc:spr:aaechp:978-3-319-16826-5_10
    DOI: 10.1007/978-3-319-16826-5_10
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    More about this item

    Keywords

    Infrastructure; Convergence; Growth; Dynamic panel; Economic integration;
    All these keywords.

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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