Pooled ordinary least-square, fixed effects and random effects modelling in a panel data regression analysis: a consideration of international commodity price and economic growth indicators in 35 Sub-Saharan African countries
by Ebrima K. Ceesay; Yahaya M. Moussa
International Journal of Technology Transfer and Commercialisation (IJTTC), Vol. 19, No. 1, 2022

Abstract: This study looks at the Sub-Saharan African countries' experience in terms of commodity price fluctuation in different countries' corners such as in the market places, retail shops, wholesales shops, street selling, at the garden, etc. The main purpose of this study is to examine the impacts of commodity prices volatility on the economic growth of 35 countries in Sub-Saharan Africa from 2000-2018. The results generated by using panel data models are all statistically significant at 1% level and the coefficients of the variables fluctuated. This indicates that the results are inconclusive, showing that the previous growth of the economy being affected negatively by commodity prices fluctuation, the current growth of the economy being affected positively by commodity prices fluctuation and the growth of the economy in the future is expected to be affected negatively by commodity prices fluctuation, unless policy intervention takes place. Therefore, the quality of institutions and good governance associated with low level of corruption are identified as an implication of economic policy.

Online publication date: Thu, 26-May-2022

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