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The Impact of CEMAC Bilateral Trade on the Economic Growth of Cameroon: Evidence from the Augmented Solow Model

机译:CEMAC双边贸易对喀麦隆经济增长的影响:来自增强求解模型的证据

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Economists view international trade as an engine to the economic growth of nations. Specifically, international trade is believed to promote the efficient allocation of resources, allows countries to experience the benefits of scale, facilitates the diffusion of knowledge, fosters technological progress and encourages competition. As a result, policy makers continue to undertake socio-economic, legal, political and institutional reforms in order to boost international trade. The study examines the impact of bilateral trade in the Economic and Monetary Union of Central African States (CEMAC) on the economic growth of Cameroon for a forty six year period from 1972 to 2018 using data collected from the World Bank and the International Monetary Fund. Through the adoption of the Poisson Pseudo Maximum Likelihood Estimator (PPML), the study finds out that while Cameroon’s bilateral trade with other CEMAC member States had an insignificant impact on the economic growth of Cameroon. Also, total labour force, government investment in education, government investment in fixed capital and the creation of CEMAC as a trade bloc all have a positive impact on the economic growth of Cameroon. The study recommends that policy makers in Cameroon and the CEMAC region as a whole should put in place laws, policies, measures and structures that boost bilateral trade within the CEMAC region in a bid to foster the economic growth of Cameroon as well as the economic growth of the CEMAC region as a whole.
机译:经济学家将国际贸易视为国家经济增长的发动机。具体而言,国际贸易据信促进资源的有效分配,允许国家体验规模的好处,促进知识的扩散,促进技术进步并鼓励竞争。因此,政策制定者继续承担社会经济,法律,政治和体制改革,以提高国际贸易。该研究探讨了双边贸易在中非国家(CEMAC)经济和货币联盟(CEMAC)对喀麦隆经济增长的影响,从世界银行和国际货币基金组织收集的数据从1972年到2018年开始的4六年。通过采用泊松伪最大可能性估算器(PPML),研究发现,虽然喀麦隆与其他CEMAC成员国的双边贸易对喀麦隆的经济增长产生了微不足道的影响。此外,劳动力全面,政府对教育投资,政府对固定资本的投资以及CEMAC作为交易集团的创建都对喀麦隆的经济增长产生了积极的影响。该研究建议喀麦隆的政策制定者和整个CEMAC地区应当制定促进CEMAC地区内部双边贸易的法律,政策,措施和结构,以促进喀麦隆的经济增长以及经济增长整个CEMAC地区。

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