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April 21, 2026Cogent Economics & FinanceOpen Access

Effects of economic growth volatility on long-term economic growth in the economic community of West African states: the role of financial development

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Authors

ISIssa SegdaMDM. Diarra

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Overview

Examines how financial development influences the effects of economic volatility on growth in West Africa, suggesting important policy implications.

Key Points

  • The research investigates how financial development affects the relationship between macroeconomic volatility and long-term economic growth.
  • Utilized an instrumental variable mean group (IVMG) estimator for analysis.
  • Analyzed panel data from 15 ECOWAS countries over 1984–2019.
  • Conducted sensitivity analyses with composite indicators and varying GDP growth measures.
  • Found a significant negative effect of macroeconomic volatility on long-term economic growth.
  • Demonstrated that stronger financial systems reduce the adverse impacts of volatility.
  • Results remained consistent across various analytical methods and measures.

Cite This Study

Segda et al. (2026) studied this question.

synapsesocial.com/papers/69e7132bcb99343efc98cecdhttps://doi.org/10.1080/23322039.2026.2646425
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