Natural Resource Rents, Manufacturing Trade, and Manufacturing Growth: Evidence from Linear and Nonlinear Regressions for ECOWAS Countries

IF 1.5 Q2 ECONOMICS

Comparative Economic Studies Pub Date : 2024-05-06 DOI:10.1057/s41294-024-00234-0

Essotanam Mamba

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引用次数: 0

Abstract

This study examines the effects of manufacturing trade and natural resource rents (NRRs) on manufacturing growth in the Economic Community of West African States (ECOWAS) from 1996 to 2020. While industrialization plays an important role in the process of economic growth and poverty reduction, descriptive evidence shows a very low level of manufacturing growth in ECOWAS. The instrumental variables approach with fixed effects is applied to address the endogeneity, autocorrelation, heteroscedasticity and heterogeneity issues. We find a positive (negative) effect of manufacturing trade, manufacturing exports and intra-ECOWAS trade (NRRs) on manufacturing growth while manufacturing imports and total trade are insignificant. However, additional findings show that their effects (manufacturing trade, NRRs) vary from one country to another. Furthermore, we reveal the presence of the Laffer natural resource Curve (inverted U). Finally, the effect of manufacturing trade on manufacturing growth is mediated via NRRs. ECOWAS policymakers must rely on both manufacturing trade and intra-trade in the ECOWAS region to boost manufacturing growth. Also, better management of natural resource rents associated with good trade policies is needed to stimulate manufacturing growth.

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自然资源租金、制造业贸易和制造业增长：西非经共体国家线性和非线性回归的证据

本研究探讨了 1996 年至 2020 年制造业贸易和自然资源租金对西非国家经济共同体（西非经共体）制造业增长的影响。虽然工业化在经济增长和减贫过程中发挥着重要作用，但描述性证据显示西非国家经济共同体的制造业增长水平非常低。为了解决内生性、自相关性、异方差性和异质性问题，我们采用了带有固定效应的工具变量方法。我们发现，制造业贸易、制造业出口和西非经共体内部贸易（NRRs）对制造业增长有正（负）影响，而制造业进口和贸易总额的影响并不显著。然而，其他研究结果表明，它们（制造业贸易、净减税率）的影响因国家而异。此外，我们还发现了拉弗自然资源曲线（倒 U 型）的存在。最后，制造业贸易对制造业增长的影响是通过净资源回报率介导的。西非经共体的决策者必须依靠西非经共体地区的制造业贸易和内部贸易来促进制造业增长。此外，还需要更好地管理与良好贸易政策相关的自然资源租金，以刺激制造业增长。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Comparative Economic Studies ECONOMICS-

CiteScore

2.30

自引率

12.50%

发文量

期刊介绍： Comparative Economic Studies is a journal of the Association for Comparative Economic Studies (ACES). It aims to publish papers that address several objectives: that provide original political economy analysis from a comparative perspective, that are an accessible source for state-of-the-art comparative economics thinking, that encourage cross-fertilization of ideas, that debate directions for future research in comparative economics, and that can provide materials and insights that are relevant for teaching, public policy debate and the media. Comparative Economic Studies welcome both submissions that are explicitly comparative and case studies of single countries or regions. The journal is interested in papers that investigate how economic systems respond to economic transitions, crises and to structural change, brought about by globalization, demographics, institutions, technology, politics, and the environment. While maintaining its position as an important outlet for work on Central Europe and the Former Soviet Union, the scope of Comparative Economic Studies encompasses other areas as well (European Union, Asia, Latin America, and Africa).