The results show that during the period 1980–2012, with the exception of Nigeria and Cote d’Ivoire productivity growth was not the hardcore of the growth observed in the ECOWAS countries but the growth was driven by factor accumulation. In addition, the contribution of labour to growth was positive but low in all the countries, the contribution of capital was negative in Cote d’Ivoire and Nigeria but positive in the other countries and that of total factor productivity was negative in Burkina Faso, Cape Verde, Ghana, Guinea, Mali, Niger and Senegal. The policy implication of this result is that in order to enhance long run economic growth in ECOWAS countries there is need to exert more efforts at raising productivity of factors of production. This requires more efforts at building human capacity for labour to be more effective and more investment in infrastructure, especially energy, in order to make capital more productive.
Blogs I Follow
- The number of women in Congress hits a record high after 2018 midterm elections
- The 20 years ago wayback machine… DJ Daydream – Make Your Own Kind of Music
- Uber co-founder eyes downtown San Jose historic building
- Small facts I always forget: US has no restrictions on dual citizenship
- Recent experiences with minimum wages
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