Unlocking Factors Driving Import Demand in ECOWAS Countries: Evidence from a Heterogeneous Panel ARDL Analysis

نویسندگان

چکیده

This study examines the factors determining demand for imports of member countries Economic Community West African States (ECOWAS) over period from 1980 to 2017. As a modelling strategy, we employ Common Correlated Effect Mean Group (CCEMG) estimator that accounts both heterogeneity and cross-sectional dependence across countries. The provides various pieces evidence through whole-panel country-level analyses. results panel analysis indicate income, relative price imports, foreign direct investment remittances are significant determinants import in ECOWAS. Income, have, on average, positive effect long run. In short run, all explanatory variables positively related imports. Country-level reveal, however, considerable relationship between its determinants.

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ژورنال

عنوان ژورنال: Modern Economy

سال: 2022

ISSN: ['2152-7245', '2152-7261']

DOI: https://doi.org/10.4236/me.2022.1310070