This study examines the effects of physical capital, financial development, workers remittances, labor and population growth on economic growth in 18 Sub-Saharan African countries. The analysis period consists of annual data from 1990 to 2023. The AMG estimator was used as the main estimator, while the CCEMG estimator was utilized as the control estimator. Additionally, the causal relationship between the variables and economic growth, as well as the direction of causality, was examined. The causal relationship was analyzed using the Dumitrescu-Hurlin (2012) test. The CCEMG estimator produces results at both the panel and cross-sectional levels. In this context, it was observed that the findings differed significantly at both the panel and individual level. It is noteworthy that physical capital and labor are the most influential variables on growth across the countries. This suggests that policies to be implemented should be tailored to the specific characteristics of each country. The findings of the causality test indicate that there is a bidirectional causal relationship between growth and physical capital and population growth.
Mehmet Uçar (Mon,) studied this question.