Theoretical and Applied Economics
No. 2 / 2018 (615), Summer
Which comes first – savings or growth? Time series evidence from ECOWAS countries
Ecole Nationale Supérieure de Statistique et d’Economie Appliquée (ENSEA), Abidjan, Côte d’Ivoire
Abstract. This study examines the direction of causality between domestic savings and economic growth in twelve West African countries during the period 1981-2014. It uses the autoregressive distributed lag (ARDL) approach to cointegration and the Granger causality test. The results show that economic growth causes domestic savings in Guinea-Bissau and Nigeria, while the reverse causality running from savings to economic growth holds in Benin, Gambia, Mali, Niger, and Senegal. A two-way causality prevails in Ghana. However, no evidence of causality in either direction was recorded for Burkina Faso, Cote d’Ivoire, Sierra Leone and Togo. These findings show that the direction of causality between savings and growth is country-specific among the West African Countries.
Contents
Studying banking performance from an accounting perspective: Evidence from Europe
Corruption, governments’ debts, trade, and global growth
Innovation – trends and patterns at Romanian firms
How to build an economy free of recession and stagnation: results from a multi-commodity macro model
Analyzing the employment rate of the population, unemployment and vacancies in the economy
An implicit model of adjustment costs in differential input demand systems
Diversity and proportionality, challenges or opportunities for the European banking sector?
A competitive economy as the path to future prosperity: Comparative analysis of selected European countries
Studying the political economy of reforms: The Greek case, 2010-2017
Analysis of the evolution of the number of pensioners and pensions in Romania
Inflation unemployment dynamics in Hungary – A structured cointegration and vector error correction model approach
Are defence expenditures the reasons of foreign debts in Turkey?
Exports, imports and economic growth in India: Evidence from cointegration and causality analysis
The role of economic growth and energy consumption on CO2 emissions in E7 countries
Which comes first – savings or growth? Time series evidence from ECOWAS countries