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International Journal of Economics & Management Sciences

.: Home > International Journal of Economics & Management Sciences > 2012 > Volume 2 Number 2 > Ndambiri H. K.1 , Ritho C.2 , Ng’ang’a S. I.3 , Kubowon, P. C.4 , Mairura F.C.3 , Nyangweso P.M. 5 , Muiruri E. M.5 & Cherotwo F. H.4

Determinans of Economic Growth in Sub-Saharan Africa: A Panel Data Approach

Ndambiri H. K.1 , Ritho C.2 , Ng’ang’a S. I.3 , Kubowon, P. C.4 , Mairura F.C.3 , Nyangweso P.M. 5 , Muiruri E. M.5 & Cherotwo F. H.4
1Centre for Environmental Economics and Policy in Africa, University of Pretoria, RSA. 2Department of Agricultural Economics, University of Nairobi, Kenya. 3 Corresponding Author, School of Business and Economics, Karatina University College, Kenya 4Department of Quantitative & Entrepreneurship Studies, Moi University, Kenya. 5Department of Agricultural Economics & Resource Management, Moi University, Kenya
Abstract :

Based on a panel data of 19 Sub Saharan countries for the years 1982-2000, this study explores the determinants of economic growth in the region. Given that economic growth is essentially seen as a dynamic phenomenon, the study employs the Generalized Method of Moments (GMM) to account for the factors that influence the growth of economies in the region. The study results indicate that physical capital formation, a vibrant export sector and human capital formation significantly contribute to the economic growth among subSaharan countries. However, government expenditure, nominal discount rate and foreign aid significantly lead to negative economic growth. As found out in the study, it is recommended that relevant policies be formulated to promote those sectors that enhance economic growth in the region. 

Keywords :
economic growth, sub Saharan Africa, dynamic panel data, GMM methodology

Date Deposited : 18 May 2016 22:04

Last Modified : 19 May 2016 21:55

Official URL: http://www.omicsonline.com/

Volume 2, Number 2, February 2012 , ISSN 2162-6359

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