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Journals / BİLTÜRK Ekonomi ve İlişkili Çalışmalar Dergisi / 2019 / Cilt: 1 - Sayı: 3

Effect of Income Inequality on Economic Growth in Selected West Africa Countries: An Empirical Analysis

Ebrima K. CEESAY
Momodou Mustapha FANNEH
Joseph Bm. TSENKWO
Pages
240–257
Publication Date
2019-07-08
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

On the other hand, inequality and human capita have negative effect on economic growth and slightly statistically significant.The results of this study show that the policy makers should focus on reinvestment in human capital, poverty reduction, land reforms, and infrastructure development as the dynamics of economic growth for these countries.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The paper empirically investigates the effect of income inequality on economic growth in the selected Western African countries for the period of 1969-2016 by using panel data analysis.
📊
Key Findings & Data:The results of panel data method indicates that poverty has positive and statistically significant effect; openness has a negative, and also significant effect on economic growth.
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Conclusion & Impact:On the other hand, inequality and human capita have negative effect on economic growth and slightly statistically significant.The results of this study show that the policy makers should focus on reinvestment in human capital, poverty reduction, land reforms, and infrastructure development as the dynamics of economic growth for these countries.
🔬Design:Research Article
📍Scope:2016 Verileri
⚙️Variables:Hausman tests · Income inequality · Poverty

Abstract

The paper empirically investigates the effect of income inequality on economic growth in the selected Western African countries for the period of 1969-2016 by using panel data analysis. The results of panel data method indicates that poverty has positive and statistically significant effect; openness has a negative, and also significant effect on economic growth. On the other hand, inequality and human capita have negative effect on economic growth and slightly statistically significant.The results of this study show that the policy makers should focus on reinvestment in human capital, poverty reduction, land reforms, and infrastructure development as the dynamics of economic growth for these countries.

Özet

The paper empirically investigates the effect of income inequality on economic growth in the selected Western African countries for the period of 1969-2016 by using panel data analysis. The results of panel data method indicates that poverty has positive and statistically significant effect; openness has a negative, and also significant effect on economic growth. On the other hand, inequality and human capita have negative effect on economic growth and slightly statistically significant.The results of this study show that the policy makers should focus on reinvestment in human capital, poverty reduction, land reforms, and infrastructure development as the dynamics of economic growth for these countries.

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Cite This Article

CEESAY, E. K., FANNEH, M. M., TSENKWO, J. B. (2019). Effect of Income Inequality on Economic Growth in Selected West Africa Countries: An Empirical Analysis. BİLTÜRK Ekonomi ve İlişkili Çalışmalar Dergisi, Cilt: 1 - Sayı: 3, 240–257. https://ajindex.com/articles/6300

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