Keyword : Advanced factor endowments, Economic growth, Government expenditure, education, Health
Author(s) : Saheed, Zakaree S. & Kabir, Fadila
Abstract :
The study used panel data approach developed by Pedroni, employing the Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Square (DOLS) methods to investigate the impact of advanced factor endowments on the economic growth of ECOWAS member countries over the period 1980 - 2017. The findings shows a positive and significant relationship between GDP and government expenditure on education, expenditure on health and school enrollment in ECOWAS countries. The study recommended that ECOWAS member countries need to increase budgetary allocation to both education and health sectors. There is also the need for incentives to improve the quality of teachers and health personnel. This implies that if funds channeled into education and health sectors are properly managed and utilized efficiently it would help in no small measure to enhance the economies of ECOWAS members
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