Impact of Construction Industry on Economic Growth in Africa: Granger Causality and GMM Estimation of Dynamic Panel Models

(Pages 292-299)

Alí Aali-Bujari1 and Francisco Venegas-Martínez2,*
1Universidad Autónoma de Estado de Hidalgo, México. 2Instituto Politécnico Nacional, México.
DOI: https://doi.org/10.55365/1923.x2021.19.30

Abstract:

This paper assesses the impact of the construction industry on economic growth of 36 African economies. A Granger causality analysis is performed and both static and dynamic panel data models are estimated under the Generalized Method of Moments (GMM). Empirical findings reveal that there is a causal relationship between the value added of the construction industry and Gross Domestic Product per capita in the studied economies. Finally, estimates of both static and dynamic panel data models suggest that the construction industry is positively related to economic growth.


Keywords:

Economic growth, construction industry, Granger’s causality, panel data models, Africa.


JEL Classification:

O10, O55, N67.


How to Cite:

Alí Aali-Bujari and Francisco Venegas-Martínez. Impact of Construction Industry on Economic Growth in Africa: Granger Causality and GMM Estimation of Dynamic Panel Models. [ref]: vol.19.2021. available at: https://refpress.org/ref-vol19-a30/


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