Analyzing Economic Growth and Its impact on Poverty Reduction in Africa
Author (s)
Benjamin Korankye, Xuezhou Wen, Appiah Michael & Easmond Baah-Nketiah
Abstract
This study currently examines some economic growth variables that interact to reduce poverty in West, East, South, Central, and North African. The review uses panel data from 1998 to 2017 based on the unit root, co-integration, fully modified ordinarily least squares (FMOLS), and granger causality to effect estimations. The study examines the association between these variables of economic Growth received and how they affect poverty. The results find economic growth promotes certain aspects of poverty reduction with the size of population and employment has been a significant factor. The granger result shows the uniqueness of the variables with bi-direction running between gross domestic product and poverty, gross capital formation and broad money, population, and broad money, and population and poverty do not Granger cause each other in the long run. It was in-line with most studies by other researchers that state these main variables has been very significant when it comes to poverty reduction in most developed countries. The study emphasized that, in the contest of Africa, these main variables helps to reduce poverty but at a minimal level.
Keywords: Economic Growth, Poverty reduction, Population, Employment, Africa.
| Title: | Analyzing Economic Growth and Its impact on Poverty Reduction in Africa |
|---|---|
| Author: | Benjamin Korankye, Xuezhou Wen, Appiah Michael & Easmond Baah-Nketiah |
| Journal Name: | International Journal of Science and Business |
| Website: | ijsab.com |
| ISSN: | ISSN 2520-4750 (Online), ISSN 2521-3040 (Print) |
| DOI: | https://doi.org/10.5281/zenodo.4277360 |
| Media: | Online |
| Volume: | 4 |
| Issue: | 12 |
| Acceptance Date: | 15/11/2020 |
| Date of Publication: | 17/11/2020 |
| PDF URL: | https://ijsab.com/wp-content/uploads/628.pdf |
| Free download: | Available |
| Page: | 93-105 |
| First Page: | 93 |
| Last Page: | 105 |
| Paper Type: | Research Paper |
| Current Status: | Published |
Cite This Article:
Benjamin Korankye, Xuezhou Wen, Appiah Michael & Easmond Baah-Nketiah (2020). Analyzing Economic Growth and Its impact on Poverty Reduction in Africa. International Journal of Science and Business, 4(12), 93-105. doi: https://doi.org/10.5281/zenodo.4277360
Retrieved from https://ijsab.com/wp-content/uploads/628.pdf
About Author (s)
Benjamin Korankye (corresponding author), School of Management, Jiangsu University, Zhenjiang 212013, China. Email:benjamin.korankye@yahoo.com
Xuezhou Wen (corresponding author), School of Business, Jiangnan University, Wuxi 214122, China. Email: xzhwen@jiangnan.edu.cn
Michael Appiah, School of Finance Jiangsu University, Zhenjiang 212013, China.
Easmond Baah-Nketiah, School of Finance Jiangsu University, Zhenjiang 212013, China.