Public expenditure and its effects on Economic growth in the Central African Republic: An Analytical approach
Author (s)
Sophil Jean Louis Francky
Abstract
This study uses Ordinary Least Squares (OLS) and Prais-Winsten autoregressive modeling to examine the impact of public expenditures on economic growth in the Central African Republic (CAR) from 1999 to 2023. According to the results, gross capital formation and labor force participation significantly influence GDP per capita, underscoring their critical role in driving economic growth in the Central African Republic. The study indicates inefficient spending patterns through a negative correlation between general government final consumption expenditure and GDP per capita. The analysis reveals diverse impacts of trade on economic growth, highlighting the importance of careful trade policy management. The research advocates for increased investment in infrastructure and human capital, labor market initiatives, government expenditure methods, strategic trade policies, prudent monetary policies, and stakeholder collaboration. CAR can enhance economic growth and quality of life by emphasizing investment and smart spending. This study establishes the foundation for research and discourse on regional economic development strategies.
Key words: Government Expenditure, Economic Growth, Gross Capita Formation, General Government Final Consumption Expenditure, CAR.
| Title: | Public expenditure and its effects on Economic growth in the Central African Republic: An Analytical approach |
|---|---|
| Author: | Sophil Jean Louis Francky |
| Journal Name: | Journal of Scientific Reports |
| Website: | https://ijsab.com/jsr |
| Publisher | IJSAB International |
| DOI: | https://doi.org/10.58970/JSR.1059 |
| Media: | Online |
| Volume: | 7 |
| Issue: | 1 |
| Acceptance Date: | 27/11/2024 |
| Date of Publication: | 30/11/2024 |
| PDF URL: | https://ijsab.com/wp-content/uploads/1059.pdf |
| Free download: | Available |
| Page: | 318-333 |
| First Page: | 318 |
| Last Page: | 333 |
| Paper Type: | Literary studies |
| Current Status: | Published |
Cite This Article:
Francky, S. J. L. (2024). Public expenditure and its effects on Economic growth in the Central African Republic: An Analytical approach, Journal of Scientific Reports, 7(1), 318-333. DOI: https://doi.org/10.58970/JSR.1059
About Author (s)
Sophil Jean Louis Francky , School of Government, University of International Business and Economics (UIBE), Beijing, China.ORCID : https://orcid.org/0009-0000-0517-3339
DOI: https://doi.org/10.58970/JSR.1059