Research Article

Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries

Volume: 6 Number: 3 September 14, 2022
TR EN

Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries

Abstract

The demographic structure of countries has significant effects on economic growth. Most developing countries are passing through a demographic transition. Although African countries still have higher fertility rates than other developing countries, fertility rates show a decreasing trend, which leads to a window of opportunity for potential demographic dividend for African countries. Within this context, this paper investigates the relationship between growth accelerations and demographic structure in ECOWAS (Economic Community of West African States) countries over the period 1961-2019. To do so, first, we identify the growth acceleration episodes using the growth acceleration methodology developed by Hausmann et al. (2005). Then, we test the demographic determinants of growth accelerations employing the panel probit regression method. The results show that while urban population and life expectancy have a significant and positive impact on the likelihood of growth accelerations, the fertility rate has a negative and significant impact on the probability of growth accelerations. In other words, an increase in urban population and life expectancy at birth increases the likelihood of growth accelerations, whereas an increase in fertility rate decreases the probability. However, the results show a negative but statistically insignificant relationship between age dependency, young-age dependency, and old-age dependency ratios and the likelihood of growth accelerations.

Keywords

References

  1. Abu-Ghaida, D., & Klasen, S. (2004). The costs of missing the millennium development goal on gender equity. World Development, 32(7), 1075-1107.
  2. Aiyar, S., Ebeke, C. & Shao, X. (2016). The impact of workforce aging on European productivity (IMF Working Paper No. 238). International Monetary Fund
  3. Ashraf, Q. H., Weil, D. N., & Wilde, J. (2013). The effect of fertility reduction on economic growth. Population and Development Review, 39(1), 97-130.
  4. Bloom, D. E., & Canning, D. (2004). Global demographic change: dimensions and economic significance (IMF Working Paper No. 10817). International Monetary Fund
  5. Bloom, D. E., & Finlay, J. E. (2009). Demographic change and economic growth in Asia. Asian Economic Policy Review, 4(1), 45-64.
  6. Bloom, D. E., & Williamson, J. G. (1998). Demographic transitions and economic miracles in emerging Asia. The World Bank Economic Review, 12(3), 419-455.
  7. Bloom, D., Canning, D., & Malaney, P. N. (1999). Demographic change and economic growth in Asia (CID Working Paper Series. No.15). Center for International Development.
  8. Bloom, D. E., Canning, D., & Fink, G. (2007). Realizing the demographic dividend: Is Africa any different? (PGDA Working Paper No. 23). Program on the Global Demography of Aging.

Details

Primary Language

English

Subjects

-

Journal Section

Research Article

Publication Date

September 14, 2022

Submission Date

February 24, 2022

Acceptance Date

June 2, 2022

Published in Issue

Year 2022 Volume: 6 Number: 3

APA
Ursavaş, U. (2022). Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries. Fiscaoeconomia, 6(3), 1059-1070. https://doi.org/10.25295/fsecon.1077283
AMA
1.Ursavaş U. Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries. FSECON. 2022;6(3):1059-1070. doi:10.25295/fsecon.1077283
Chicago
Ursavaş, Uğur. 2022. “Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries”. Fiscaoeconomia 6 (3): 1059-70. https://doi.org/10.25295/fsecon.1077283.
EndNote
Ursavaş U (September 1, 2022) Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries. Fiscaoeconomia 6 3 1059–1070.
IEEE
[1]U. Ursavaş, “Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries”, FSECON, vol. 6, no. 3, pp. 1059–1070, Sept. 2022, doi: 10.25295/fsecon.1077283.
ISNAD
Ursavaş, Uğur. “Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries”. Fiscaoeconomia 6/3 (September 1, 2022): 1059-1070. https://doi.org/10.25295/fsecon.1077283.
JAMA
1.Ursavaş U. Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries. FSECON. 2022;6:1059–1070.
MLA
Ursavaş, Uğur. “Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries”. Fiscaoeconomia, vol. 6, no. 3, Sept. 2022, pp. 1059-70, doi:10.25295/fsecon.1077283.
Vancouver
1.Uğur Ursavaş. Growth Acceleration and Demographic Structure: The Case of ECOWAS Countries. FSECON. 2022 Sep. 1;6(3):1059-70. doi:10.25295/fsecon.1077283
download?token=eyJ1aWQiOjEwMTE3NywiYXV0aF9yb2xlcyI6WyJST0xFX1VTRVIiXSwiZW5kcG9pbnQiOiJqb3VybmFsIiwib3JpZ2luYWxuYW1lIjoiMjAyNi0wMy0xNF8wMC0xOC01OC5wbmciLCJwYXRoIjoiNTVjMC82NjE0LzA5NGEvNjliNDdmNjNjMjdiMDUuMDA4NTE4OTUucG5nIiwiZXhwIjoxNzczNDQwMzcxLCJub25jZSI6IjMzYzNhMDczOTJhZDBiOWUxMjA4MTJlMzAwOTdlMDhjIn0.uxgvoBOu5rdPPckMLotZ4eBnzOQVB_StL3DcxMXqMSU


Fiscaoeconomia is licensed under a Creative Commons Attribution License (CC BY).