The Impact Of Foreign Direct Investment on Economic Growth of West African Member State’s (A Case Study Of Ecowas) (2001 – 2015) (Published)
Economic Community of West African States (ECOWAS) has been programmed to fuel economic growth of all its member nations not only through trade liberalization and common customs union but through attracting FDI inflow as well. Since its inception, it has been undergoing a series of institutional reforms to achieve its stated objectives. Against this background, this research investigates the relationship between foreign direct investment and economic growth in the Economic Community of West African States (ECOWAS). This study shall use panel data spanning 2001 to 2015. In order to achieve this, the study shall conduct empirical analyses by panel unit root, heterogeneous panel co-integration, and SUR multiple regression. Research findings from Pedroni co-integration test show that there is a cognate relationship between all the factors under investigation concerning ECOWAS region. Co-integration analysis also indicates a positive and significant relationship between variables such as financial development, FDI, domestic trade, and trade openness, while unemployment and social unrest negatively relates to economic growth, though unemployment is not statistically significant. For the sake of caution, this study uses a SUR multiple regression for the robustness test. Empirical result shows FDI strongly relates to economic growth in ECOWAS nation. The results are in consonance with the previous theories on growth-FDI modeling. The research findings suggest that ECOWAS members should provide a conducive and enabling environment to attract a free flow of FDI into their economy.
This study examined the impact of export trade on commercial banks in Nigeria. In carrying out this study, secondary data were utilized. Data were collected from the period of 1983 – 2013, and utilized with the aid of a regression technique. The findings from the analysis revealed that: there is a positive and significant relationship between credit to private sectors and export growth in Nigeria. There is positive and significant relationship between openness of the economy and export growth in Nigeria. There is a positive and significant relationship between exchange rate and export growth in Nigeria and there is a positive and significant relationship between interest rate and export growth in Nigeria.
This study investigates empirically the effect of exchange rate volatility on the output level of the five English speaking countries in ECOWAS, namely Nigeria, Ghana, Gambia, the Sierra Leones and Liberia, over the period 1991 to 2014. Co-integration test and error correction modelling were used as estimation techniques. Estimates of co-integration relations were obtained and the short-run and long-run dynamic relationships between the variables were obtained for each country utilizing the tests. In general, exchange rate volatility has a significant impact on outputs at least for all the countries considered in the study, with all except Liberia having negative impact.
The work examines Economic Community of West African States (ECOWAS) Diplomatic methods of conflict resolution in West Africa. The objectives is to ascertain how effective these methods have been utilized in resolving conflicts in West Africa with a view of making appropriate recommendations based on research findings on how best to employ these methods by the community. The work adopted the doctrinal methodology of research, mainly primary and secondary sources such as: textbooks, official documents from ECOWAS, periodicals and internet resources. The work observed that these methods were successfully used to restore peace in Sierra Leone, Liberia, Togo, Cote d’ivoire, Guinea Bissau, Senegal and Gambia. Thus, the methods are useful in settlement of disputes and should be encouraged because the decision is reached by the parties themselves and enforcement of such agreement may be easier. The current use of council of elders on ad-hoc basis for peaceful resolution of conflicts is not sufficient. The ECOWAS should establish Commission of Mediation, Conciliation and Arbitration as it will serve as a reminder to disputants that there is still the last opportunity to resolve their differences. Those to be appointed mediators should have good track records in terms of high level work experience and character; be endowed with negotiating skills and able to bring about peace and reconciliations that can be employed in potential conflict situations.
TRANSNATIONAL AND INTEGRATIVE CULTURAL ROLES OF NOLLYWOOD ENTERTAINMENT MEDIA IN WEST AFRICA: THE CASE STUDY OF BENIN REPUBLIC AND GHANA (Published)
Nigerian films, under the auspices of Nollywood are becoming extremely popular among the Africans that are residing in the West African sub-region. In line with the integration agenda of ECOWAS, Nollywood films have been re-emphasising African cultural practises into the West African diasporas living in the various countries in sub-Region and in addition re- infusing the African practices and cultures into the original inhabitants of the various countries within the region. In the post-Cold War era, the Nigerian Nollywood industry has been leading a cultural shift from historical and written facts to visual images without losing the touch of Nigerian English and native dialects, which emphasises the concept of informal education of people by enticing images more that persuasion of words. It is a truism that Nollywood films has gained wide acceptance because of its accessibility among the youth and adolescence in West Africa, and are gradually gaining wider acceptance among the African diasporas within the rest of the Region in Africa and African diasporas in Europe ,America, and the Asian countries. This acceptance was made possible because of socio-cultural and educational values. It is hard to avoid Nigerian films in Africa because public buses show them, as do many restaurants and hotels. Nollywood, as the business is known, churns out about 50 full-length features a week, making it the world’s second most prolific film industry after India’s Bollywood. The streets of Lagos and the outskirts are flooded with camera crews shooting on location. West African people enjoy watching Nigerian home video films, thereby reinforcing the historical socio-cultural bond. This paper assesses the transnational roles of Nollywood films, its integration force by binging the West African nationals living in the sub-Region together socio-culturally, thereby promoting the ideals of the founding fathers of ECOWAS. These roles will be assessed and analysed through questionnaires that will be administered and interviews both structured and unstructured that will be conducted Benin Republic and Ghana representing Francophone and Anglophone countries respectively. The conclusion reached will be of benefits to the promoters of Nollywood towards positive projection and delivery of African values, norms and cultures within West Africa, to other African countries, so as to enhance the regional integration of African Union.
UNITED NATIONS-ECOWAS INTERVENTION IN MALI- GUINEA BISSAU: GEO-ECONOMIC AND STRATEGIC ANALYSIS (Review Completed - Accepted)
Intervention in terms of international law, is the term for the use of force by one country or sovereign state in the internal or external affairs of another. In most cases, intervention is considered to be an unlawful. Oppenheim (1992) defines intervention as a forcible or dictorial interference by a State in the affairs of another State calculated to impose certain conduct or consequences on that other State. The military intervention by ECOWAS has not been totally successful in quelling conflicts, crisis of regime change and political succession and military intervention into politics in the West African sub-region and the Africa generally. Intervention can be done by various means, e.g. military, subversive, economic, or diplomatic. The latest of these conflicts in the sub-region which ECOWAS has intervened are Mali and Guinea Bissau in 2012. The objective has been to restore democracy by forcing the military back to the barracks or restricting it to the constitutional role of protecting the territorial integrity from internal insurrection and external aggression. But the root causes of military intervention into politics and crisis of regime change or political succession are yet to be adequately addressed by the ECOWAS, for example, issues of legitimacy crisis, poor governance, bad leadership, political leadership failure, political corruption, electoral crisis and political violence have been largely left unattended or ignored. The political conditions in most of the countries in the sub-region and indeed Africa as a whole are not democracy friendly or unsuitable for democratization and flourishing of democracy or demilitarization (Aning and Bah, 2010; Sperling, 2011). Most scholars like Nowrot and Schabacker (1998) focus on the legality of ECOWAS intervention while the likes of Olonisakan (2010) concentrates on the effectiveness of the military intervention in quelling conflicts in the West African sub-region. Despite the fact that peacekeeping partnerships are yet to mature, the general consensus is that the world is headed towards greater integration between the UN and regional arrangements such as Ecowas. Such institutions play an important role, especially in a world with power imbalances, distrust and unrest. Cooperation among states towards peacekeeping mechanisms gives birth to opportunities for burden sharing, balancing power, pursuing self-interest and generally preventing the collapse of world order as it stands. In light of the changing security dynamics, peace operations have become both all the more complex and important. Bringing together regional arrangements allows flexibility for political manoeuvring and unity vis-à-vis mission mandate and implementation. Still in its infancy, peacekeeping alliances should be viewed as a means to an end rather than an end unto itself. It is impossible to obtain a foolproof hybrid operation. But with each step forward, finding common ground for joint preparation mechanisms becomes all the more easier.This paper titled “UN-ECOWAS intervention in Mali: Geo-Economic and Strategic Analysis” . The study is basically a qualitative research method relying mainly on secondary sources of data from internet source, official documents and country websites as the method of data collection. We made use of qualitative – descriptive analysis as our method of data analysis, that is, documentary studies of official document and other materials in analyzing the secondary data. The major purpose of embarking on this research is to examine the geo-economic and strategic implications of UN-ECOWAS intervention in Mali. Thus, we were able to make the following principal findings that, one, the delayed UN backed ECOWAS humanitarian intervention deepened the crisis in Mali. Two, that the poorly funded UN supported ECOWAS peacekeeping intervention worsened the terrorist attack in Mali. On the basis of this, we recommend, one, that UN and ECOWAS should evolve a rapid and quick deployment of humanitarian intervention forces in order to lesson crisis. Two, that UN and ECOWAS should adequately fund peacekeeping intervention forces in order to reduce terrorist attack.