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Private Sector Development in West AfricaThe Role of the State in Promoting Regional Integration and Private Sector Development

Private Sector Development in West Africa: The Role of the State in Promoting Regional... [The private sector remains an essential component of an economy’s development process, with positive impact on development challenges such as job creation and inclusive growth. This paper investigates the determinants of private investment in a panel of 14 West African countries from 1985 to 2011. Using system GMM regression techniques, the empirical findings support the need for an educated workforce as well as the complementary role of foreign capital investment as key determinants of private investment. Besides the necessity for a stable macroeconomic environment, the results underscore the need to boost the levels of public investment in order to address infrastructural deficits which bind the growth of entrepreneurial activities in the region.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Private Sector Development in West AfricaThe Role of the State in Promoting Regional Integration and Private Sector Development

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Publisher
Springer International Publishing
Copyright
© Springer International Publishing Switzerland 2014
ISBN
978-3-319-05187-1
Pages
187 –198
DOI
10.1007/978-3-319-05188-8_9
Publisher site
See Chapter on Publisher Site

Abstract

[The private sector remains an essential component of an economy’s development process, with positive impact on development challenges such as job creation and inclusive growth. This paper investigates the determinants of private investment in a panel of 14 West African countries from 1985 to 2011. Using system GMM regression techniques, the empirical findings support the need for an educated workforce as well as the complementary role of foreign capital investment as key determinants of private investment. Besides the necessity for a stable macroeconomic environment, the results underscore the need to boost the levels of public investment in order to address infrastructural deficits which bind the growth of entrepreneurial activities in the region.]

Published: May 16, 2014

Keywords: Private investment; System GMM; West Africa

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