Modeling of Some Economic Growth Determinants In Ecowas Countries: A Panel Data Approach

Abstract

The study considers an empirical analysis of panel data with autocorrelation and little (insignificant) heteroscedasticity. The findings revealed that Feasible Generalized Least Square is more appropriate than other estimation methods in the data; viz-a-vis; Pooled Ordinary Least Square and Between estimators. In addition, it was discovered that capital and trade-openness have an insignificant influence on the economic growth of the fifteen (15) Economic Community of West African States (ECOWAS).