Effect of government expenditure on real economic growth in ECOWAS: assessing the moderating role of corruption and conflict

Journal article


Okunlola, O., Sani, I., Ayetigbo, O. and Oyadeyi, O. 2024. Effect of government expenditure on real economic growth in ECOWAS: assessing the moderating role of corruption and conflict. Humanities and Social Sciences Communications . https://doi.org/10.1057/s41599-024-03285-x
AuthorsOkunlola, O., Sani, I., Ayetigbo, O. and Oyadeyi, O.
Abstract

This study investigated the effect of government expenditure on real growth in ECOWAS countries. This paper used panel cointegration techniques to examine the impact of government expenditure on economic growth for a sample of 15 ECOWAS countries between 1999 and 2021. The study uses the POLS, FMOLS, and DOLS techniques for estimating four models. The study supports the view that government expenditure positively affects real economic growth in ECOWAS countries. However, we also found that higher control of corruption improves the effectiveness and efficiency of government expenditure in promoting economic growth. Furthermore, a higher incidence of conflict minimizes the effectiveness and efficiency of government expenditure in promoting economic growth. The finding suggests that a well-managed government can contribute positively to economic growth. The finding that government expenditure positively affects real growth in ECOWAS countries suggests that a well-managed government can contribute positively to economic growth. This finding is helpful for policymakers in ECOWAS countries interested in improving their countries’ economic growth.

KeywordsDevelopment studies; Economics ; Finance
Year2024
JournalHumanities and Social Sciences Communications
PublisherSpringer Nature
ISSN2662-9992
Digital Object Identifier (DOI)https://doi.org/10.1057/s41599-024-03285-x
Web address (URL)https://www.nature.com/articles/s41599-024-03285-x
Publisher's version
License
File Access Level
Open
Output statusPublished
Publication dates
Online17 Jun 2024
Publication process dates
Deposited25 Jul 2024
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License: CC BY 4.0
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