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Impact of Common Currency Membership on West African Countries’ Enhanced Economic Growth Read chapter Read first chapter

2016 | OriginalPaper | Chapter

Manufacturing Export, Infrastructure and Institutions: Reflections from ECOWAS

Authors : Uchenna R. Efobi, Evans S. Osabuohien

Published in: Accelerated Economic Growth in West Africa

Publisher: Springer International Publishing

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Abstract

This study examines the extent of manufacturing export in ECOWAS countries, how it has been affected by the extent of infrastructural development and the distilling role of institutions. In retrospect, we present stylized facts that proves that ECOWAS poor infrastructural development has largely being driven by the poor institutions, which promotes private benefits rather than public good (such as infrastructure). In essence, this has hampered manufacturing export and reduced the extent of competitiveness of these countries.

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previous chapter West Africa’s Economic Growth and Weakening Diversification: Rethinking the Role of Macroeconomic Policies for Industrialization
next chapter Industrial Policy and Structural Change: Some Policy Perspectives
Footnotes
1
Considering that African countries’ average inflation rate of 7.08 for 2003–2010 (according to the United Nations Statistics, available at http://​www.​un.​org/​en/​development/​desa/​policy/​wesp/​wesp_​archive/​2012annex_​tables.​pdf), then the value for US$150 billion in 2010 would be about US$1 trillion, which is over 11 times more than the annual contribution required for infrastructural development.
 
2
For more discussion on the importance of the manufacturing sector, see Mbate (2014), who examined industrial policy and structural changes in ECOWAS countries.
 
3
Emphasis was on the extent of productivity and export of the manufacturing sector.
 
4
Other measure of infrastructure (Logistic Performance Index) was presented in Table 3.
 
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Metadata
Title
Manufacturing Export, Infrastructure and Institutions: Reflections from ECOWAS
Authors
Uchenna R. Efobi
Evans S. Osabuohien
Copyright Year
2016
Book
Accelerated Economic Growth in West Africa

Print ISBN: 978-3-319-16825-8

Electronic ISBN: 978-3-319-16826-5

Copyright Year: 2016

DOI
https://doi.org/10.1007/978-3-319-16826-5_8