ANALYSIS OF THE DETERMINANTS OF THE ECONOMIC GROWTH OF THE UEMOA AND BRICS COUNTRIES: A PANEL STUDY

Abstract

This study attempts to highlight the main determinants of economic growth in the BRICS and UEMOA
countries by using panel data analysis to propose stimulus measures with a view to moving towards
emergence. By estimating fixed-effect models, our results suggest investment in physical capital, human
capital, labor force and public consumption expenditure as the driving forces behind BRICS economic
growth that UEMOA countries can rely on to boost their growth. Our results also suggest, to a lesser
degree, macroeconomic stability through inflation control and governance.