Ecowas And The New Internasional Economic Order: Empirical Evidence On Regional Integration And Inclusive Growth In West Africa
DOI:
https://doi.org/10.58765/ijemr.v4i2.414Keywords:
ECOWAS, Inclusive growth, New International Economic Order, Regional Integration, West AfricaAbstract
Purpose– Examining the relationship between regional integration under the Economic Community of West African States (ECOWAS) and inclusive growth in West Africa. Situating the analysis of ECOWAS integration within the broader conceptual framework of the New International Economic Order (NIEO) to assess the potential of regional integration to reduce global and regional inequalities.
Design/methodology/approach– Annual panel data for the 15 ECOWAS member countries covering the 2000–2024 period, sourced from the World Bank (WDI), AfDB, and ECOWAS statistics. Fixed Effects (FE) and Random Effects (RE) models were employed, with the selection based on the Hausman test. The system Generalized Method of Moments (System GMM) was used to address dynamic dependence, endogeneity, and simultaneity bias.
Originality- This article links ECOWAS integration to the New International Economic Order (NIEO) framework to examine equitable growth, utilizing recent panel data (2000–2024) and the System GMM method to address endogeneity issues.
Findings and Discussion– ECOWAS integration has proven to have a positive and significant impact on inclusive growth, though the effect is relatively modest. Infrastructure and education serve as key drivers, whereas inflation hinders growth. Integration cannot stand alone; it requires the support of infrastructure improvements and domestic policies.
Conclusion– Regional integration contributes to the development of West Africa, but its effectiveness depends heavily on the quality of institutions, macroeconomic stability, the addressing of inequality, and investment in infrastructure and MSMEs.
Keywords- ECOWAS; Inclusive growth; New International Economic Order; Regional integration; West Africa
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Copyright (c) 2026 Kevin Akpochafo, Peter Egbon, Callistar Obi, Godwin Anigboro
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