Export Diversification Determinants in West African Sub-Region (Published)
This paper empirically studies the export diversification determinants in west Africa sub-region as diversification is critical for the region to promote sustainable development and economic transformation. The study used regression to analyze the data sourced from 17 west African countries from year 1995-2015. The results suggest that per capital income, human capital, investment, geographical location and good governance are significant drivers of export diversification, while terms of trade and population have negative relationship with export diversification in Africa. The evidence shows that export diversification is necessary in managing sustainable development in Africa. The study recommend among other things that the region should come up with an efficient governance that formulate and implement sound economic policies, create investment friendly environment and should pursue an aggressive process of export diversification that will result in buoyant and robust economy which will reduce high dependent on imported goods.
Keywords: African continent, Developing Economy, Export diversification, West Africa, economic growth