Determinants of Trade Openness in Western Bloc Of Africa: Do Threshold of Industrial Value Added And Institutions Matter?
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Date
2024
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Publisher
Journal of Management Studies
Abstract
The research work explores the determinants of trade openness in Western bloc of Africa with critical emphasis on value added by the industrial sector of the economy and quality of institutions in the bloc. With the pre estimation test of unit root test that suggested panel autoregressive distributed lag and fully modified least square for the robustness check for the period of 1996 to 2020 the result of the analysis revealed that the threshold of industrial value added, quality institutions and financial deepening as vital determinants of trade openness in the bloc. Unfortunately, the interaction of the existing institutions with the threshold of value added by the industrial sector of the economy has no impact on trade openness. Conclusion of the research work was on more development of financial deepening, quality institutions and improved value added by the industrial sectors for the bloc to engage in trading beyond primary agrarian products.
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Citation
Idoko Suzan A et al. (2024). Determinants of Trade Openness in Western Bloc Of Africa: Do Threshold of Industrial Value Added And Institutions Matter?. Journal of Management Studies. Vol. 38(1); 47-61.