UGOCHUKWU, KINGSLEY ONYEDIKACHI and Covenant University, Theses (2022) MANUFACTURING SECTOR OUTPUT, INSTITUTIONAL QUALITY AND SUSTAINABLE DEVELOPMENT IN ECONOMIC COMMUNITY OF WEST AFRICAN STATES. Masters thesis, COVENANT UNIVERSITY.
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Abstract
Sustainable development entails that the present generation's economic activities should not be at the expense of the natural environment and natural resources must be efficiently used to ensure that future generations' have the ability to meet their own needs. The manufacturing sector is a key enabler of economic development and growth. Because the sector contributes to the creation of jobs and exports in an economy, it is critical to ensure that it operates efficiently. The quality of institutions available determines the efficient use of resources. This study, therefore, examines the relationships among the manufacturing sector, institutional quality and sustainable development in the Economic Community of West African States (ECOWAS). To assess the effect of the manufacturing sector output on sustainable development in ECOWAS sub-region, the study employs fixed effect regression and finds that manufacturing sector output positively and significantly impacts sustainable development. Some control variables including inflation rate, financial development, national per capita income and natural resource rent were employed. The study found that the institutional quality in ECOWAS region is weak and this calls for immediate actions. Furthermore, employing the interaction effect model to examine the interactive role of institutions in the relationship between manufacturing sector output and sustainable development, the study finds that the interaction between all three institutional variables and manufacturing sector output had positive and significant impacts on sustainable development. The study, hence, recommends that relevant policymakers generate policies to improve the infrastructure that enables manufacturing sector to thrive. Also, ECOWAS should play a supervisory role over the countries in the community and ensure infrastructural development becomes a priority in order to achieve economic growth and sustainable development.
| Item Type: | Thesis (Masters) |
|---|---|
| Uncontrolled Keywords: | Sustainable Development, Manufacturing Sector Output, Institutions, ECOWAS, Interaction Effect. |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | AKINWUMI |
| Date Deposited: | 29 Jul 2022 16:28 |
| Last Modified: | 29 Jul 2022 16:28 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/16119 |
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