Impact of Foreign Aid and Human Capital Development on Economic Growth in the West African Monetary Zone Region

• 발행기관: 한국계량경제학회
• 저자명: Ejime H. Aniemeke Jide Oladipo
• 간행물 정보: 『JOURNAL OF ECONOMIC THEORY AND ECONOMETRICS』Vol.36 No.1, 49~75쪽, 전체 27쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2025.03.31

국문 초록

This study investigates the impact of foreign aid and human capital development on economic growth in the West African Monetary Zone (WAMZ) region, from 1999 - 2023. The study employs the autoregressive distributed lag (ARDL) model for the analysis. The results of the findings reveal that the impact of foreign aid in WAMZ, both in the short-run and long-run is negative but significant only in the long-run, however, human capital development is positive, only in the long-run. Furthermore, the findings indicate that economic growth and human capital development are causally related while foreign aid and economic growth are not. Therefore, the study recommends that aid donors should collaborate with multilateral organizations like the International Monetary Fund (IMF), as they are better suited to manage, oversee and promote economic growth projects. Meanwhile, the governments of WAMZ should strategically invest in vital sectors to increase resilience and self-sufficiency and establish macroeconomic environment that reduces reliance on foreign aid. Also, the policymakers in the WAMZ should ensure universal access to high-quality education that meets the demand of the labour market, and make investments in health-care delivery systems. Ultimately, the study contributes to a deeper understanding of the dynamics between aid-inflows, human capital, and economic growth in the region.

목차

1. INTRODUCTION

2. LITERATURE REVIEW

3. METHODOLOGY

4. DATA ANALYSIS AND DISCUSSION

5. CONCLUSION AND RECOMMENDATIONS

REFERENCES

키워드

Economic growth health expenditure official development assistance secondary school enrolment WAMZ