Economic development in ECOWAS countries

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The countries of the Economic Community of West African States (ECOWAS) are currently experiencing growing insecurity, leading to an increase in military spending in the zone. The aim of this doctoral thesis is therefore to examine the determinants and effects of military expenditure on economic development in ECOWAS countries. Organized into three (03) essays, this analysis covers thirteen (13) countries over the period 2000 to 2018. Dynamic panel data are used and come from World Development Indicators (WDI, 2018), International Peace Research Institute (SIPRI, 2018), Armed Conflict Location and Event Data Project (ACLED, 2018) International Country Risk Guide (ICRG, 2018). Tests for dependence, panel homogeneity, unit root, cointegration and endogeneity were carried out before the estimation technique was chosen. The first test analyzed the explanatory factors of military expenditure using the Pooled Mean Group (PMG) estimator. The results show that the explanatory factors for military spending are economic and strategic.

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Pages: 116, Paperback, Our Knowledge Publishing