Impact Of Trade Openness on Industrial Growth: Evidence from Low-Income Economies in ECOWAS

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dc.contributor.authorGboyinde Victoria Oluwaseye
dc.contributor.authorBalogun Emmanuel Dele
dc.contributor.authorOdeleye Anthonia Taye
dc.date.accessioned2026-09-10T11:47:15Z
dc.date.available2026-09-10T11:47:15Z
dc.date.issued2026
dc.description.abstractThis study investigates the impact of trade openness on industrial growth in low-income economies within the ECOWAS region. Secondary data were sourced from the World Development Indicators (WDI) for the eight low-income ECOWAS countries identified by the World Bank, covering the period 1998–2023. The analysis was based on panel data from these eight countries and estimated using the Driscoll and Kraay regression technique, which corrects for cross-sectional dependence, heteroskedasticity, and serial correlation. The findings reveal that while trade openness does not have a significant impact on industrial growth, gross capital formation and real exchange rates have positive and significant impacts. Conversely, foreign direct investment (FDI) and inflation negatively affect industrial growth in these countries. Therefore, the study concludes that trade openness alone is insufficient to drive industrial growth in low-income ECOWAS countries. It recommends policies that promote capital formation, maintain exchange rate stability, improve the quality and productivity of foreign direct investment, and keep inflation at stable levels to support industrial growth.
dc.identifier.citationGboyinde, V. O., Balogun, E. D., and Odeleye, A. T. (2026). Impact Of Trade Openness on Industrial Growth: Evidence from Low-Income Economies in ECOWAS. Crawford Journal of Economics and Management. Vol. 3(1);Pg. 84-94.
dc.identifier.issn31216943
dc.identifier.urihttps://repository.crawforduniversity.edu.ng/handle/123456789/1436
dc.language.isoen
dc.publisherCrawford Journal of Economics and Management
dc.relation.ispartofseries3; 1
dc.titleImpact Of Trade Openness on Industrial Growth: Evidence from Low-Income Economies in ECOWAS
dc.typeArticle
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