AMJD Volume. 11, Issue 1 (2022)

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Contributor(s)

Usman, O.A, Salako Gbadebo
 

Keywords

Political Globalization Social Globalization Real Gross Domestic product Financial Integration West Africa.
 

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Impact of Political and Social Globalizations on Economic Growth in West Africa (1990-2022)

Abstract: This study examined the impact of political and social globalization on economic growth in West Africa between 1990 and 2022. The World Development Indicators (WDI), World Governance Indicators (WGI), and an updated version of the KOF Globalization Index Data Bases were used to collect data. The data collected was analysed through the use of panel data analysis. The panel data involves the use of static and dynamic methods, which are made up of pooled OLS, fixed effects, and random effects. Based on findings, it is concluded that political globalization positively influences economic growth. In the short run, social globalization also had a positive impact on economic growth, while in the long run, social globalization had a negative impact. In line with the outcome, it is recommended that West African countries formulate policies based on realistic, appropriate globalization and economic integration principles that are peculiar to each country. Relevant complementary policy frameworks that will enable the development of other sectors of the economy should also be formulated.
 
 
 

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