Driving growth through infrastructure: evidence from the West African Economic and Monetary Union (WAEMU) countries

Infrastructure development is widely considered a key driver of economic growth in developing regions such as WAEMU, where infrastructure deficits constrain productivity and competitiveness. This study examines the impact of infrastructure on economic growth in eight WAEMU countries from 2007 to 2023 using panel data and two estimators, including the Augmented Mean Group (AMG). Results show a statistically significant negative effect of infrastructure on growth, suggesting that short- to medium-term adjustment costs and implementation inefficiencies outweigh productivity gains. Investment is positively associated with growth, confirming the importance of capital accumulation. Policy should prioritise efficiency, governance, maintenance, coordination, and effective public–private partnerships.