EuroEconomica, Vol 33, No 2 (2014)

Does gross capital formation matter for economic growth in the CEMAC sub-region?

Emmanuel Nkoa Ongo, Andrew Wujung Vukenkeng


This paper examines the effect of gross capital formation on the economic growth of the CEMAC sub-region. It draws inspiration from the endogenous growth model. Data for the study is collected from the World Bank Development Indicators. The estimation technique used for this study is the Generalized Least Square estimation technique. The results show that private investment has a significant positive association with economic growth. This is also the case of technical progress and infrastructural development. On the contrary, labour force tends to affect negatively economic growth in this sub-region. This suggests that countries of the sub region need to implement realistic employment policies.


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