A Study on Exports as a Determinant of Economic Growth in The Gambia. The Case of The Groundnut (Peanut) Sector

      Аннотация: The Gambia export growth is important because of its effects on national & internal trade and economic stability. Moreover, the rate of economic growth in The Gambia and the distribution of income and wealth are closely related to export growth. Growth of the economy is directly related to exports. At national level, the export activity provided a large amount of income for the economy. On the other hand, the instability in exports can seriously affect the process of economic growth and development.This book examines the causal relationship between The Gambia exports and economic growth (GDP) using the Error Correction Model (ECM) for the time series data period 1980-2010. Econometric models were estimated to test for time series properties: unit root (ADF) and Co-Integration (Johansen’s procedure). According to the empirical results, the R-squared is found to be 63.49%. This statistically implies that The Gambia’s economic growth (GDP) can be explained by its total export at a rate of 63.49%, showing that total export growth is a good determinant of economic growth.

Ключевые слова: Agricultural Economics, Determinants, Economic Growth, error correction model, Exports, Groundnut Sector