Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019)

Matthew James Turay; Isaac Tamba Issa; Ishmail Sheriff; Abdulai Koedoyoma; Ibrahim Kuyateh

doi:doi:10.11648/j.jbed.20210603.13

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Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019)

Matthew James Turay, Isaac Tamba Issa, Ishmail Sheriff, Abdulai Koedoyoma, Ibrahim Kuyateh

Published in Journal of Business and Economic Development (Volume 6, Issue 3)

Received: 9 February 2021 Accepted: 18 February 2021 Published: 13 July 2021

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Abstract

In order to boost up the economic growth of any country, Exports should be considered as key factor as it contributes immensely in which Sierra Leone as a nation is no exception. Therefore, this research paper target to investigate the effect of export on the economic growth of Sierra Leone using time series data of exports and the gross domestic products ranging from 1990- 2019 which was source from the World Bank Indicators. In order to accomplish the aim of this paper, descriptive statistics, regression, correlation, Augmented Dickey- Fuller Unit root test, Johansen cointegration test, Vector Auto regression model, diagnostic test and the Pair- wise Granger causality test were the tools used to analyze the data. Based on the results from both regression analysis, it can be seen that export has a significant positive effect on the economic growth of Sierra Leone. Augmented Dickey-Fuller unit root test results shows existence of stationarity at first difference was detected, while the cointegration test results revealed that, there is no relationship between the exports and economic growth. However, the Vector Auto regressive model test revealed that, exports have a significant effect on the economic growth as well. Granger causality test, shows that both exports influence the Gross Domestic Product of Sierra leone.

Published in	Journal of Business and Economic Development (Volume 6, Issue 3)
DOI	10.11648/j.jbed.20210603.13
Page(s)	148-154
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Export, Economy, Sierra Leone, Relationship, Cointegration

References

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[4]	Dutt, S. D., Ghosh, D., & Austin, A. (2015). Export Growth--- economic Growth Nexus: An Empirical Re-examination. Journal of Business and Economics JBE, 6 (12), 1999-2007.
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[6]	Agosin, M, R. (2007). Export diversification and growth in emerging countries. Available: http://www.econ.uchile.cl/uploads/publicacion/7fec2632-b4c3-45a3-ab78-0970614f5bab.pdf (March 18, 2012).
[7]	Ferreira, G. F. (2009). The expansion and diversification of the export sector and economic growth: The Costa Rican experience.
[8]	Utonga and Dimoso, 2019, The Nexus Between Export and Economic Growth in Tanzania. Journal of Business School, vol. 2, issue. 6, pp. 49-59.
[9]	Vardari, M. L. (2015). Relationship between Import-Exports and Economic Growth: The Kosova Case Study. SSRN Electronic Journal, (March). https://doi.org/10.2139/ssrn.288973.
[10]	Bakari, S., & Mabrouki, M. (2017). Impact of Exports and Imports on Economic Growth: New Evidence From Panama. Journal of Smart Economic Growth, 2 (1), 67–79.
[11]	Amiri, A., & Gerdtham, U. (2011). Relationship between exports, imports, and economic growth in France: evidence from cointegration analysis and Granger causality with using geostatistical models. MPRA Paper No. 34190. Retrieved from http://mpra.ub.uni-muenchen.de/34190/.
[12]	Khan, D. (2012). Exports, imports and economic growth nexus: Time series evidence from Pakistan. World Applied Sciences Journal, 18 (4), 538-542.
[13]	Mori Kogid, Dullah Mulok, Kok Sook Ching, Jaratin Lily (2011). Does Import Affect Economic Growth in Malaysia. The Empirical Economics Letters, 10 (3): (March 2011).
[14]	Aka, B. F., 2006. "Openness, Globalization and Economic Growth: Empirical Evidence from Cote d´Ivoire, 1969-2002," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 3 (2), pages 67-86.
[15]	Taghavi, M., Goudarzi, M., Masoudi, E., & Gashti, H. P. (2012). Study on the Impact of Export and Import on Economic Growth in Iran, 2 (12), 12787–12794.
[16]	Bakari, S. and Krit, M. (2017). The Nexus between Exports, Imports and Economic Growth: Evidence from Mauritania. International Journal of Economics and Empirical Research. 5 (1), 10-17.
[17]	Sachin N. Mehta (2015). The Dynamics of Relationship between Exports, Import and Economic Growth in India. International Journal of Research in Humanities & Soc. Sciences, Vol. 3, Issue: 7 July, 2015.
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APA Style

Matthew James Turay, Isaac Tamba Issa, Ishmail Sheriff, Abdulai Koedoyoma, Ibrahim Kuyateh. (2021). Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019). Journal of Business and Economic Development, 6(3), 148-154. https://doi.org/10.11648/j.jbed.20210603.13

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ACS Style

Matthew James Turay; Isaac Tamba Issa; Ishmail Sheriff; Abdulai Koedoyoma; Ibrahim Kuyateh. Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019). J. Bus. Econ. Dev. 2021, 6(3), 148-154. doi: 10.11648/j.jbed.20210603.13

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AMA Style

Matthew James Turay, Isaac Tamba Issa, Ishmail Sheriff, Abdulai Koedoyoma, Ibrahim Kuyateh. Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019). J Bus Econ Dev. 2021;6(3):148-154. doi: 10.11648/j.jbed.20210603.13

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@article{10.11648/j.jbed.20210603.13,
  author = {Matthew James Turay and Isaac Tamba Issa and Ishmail Sheriff and Abdulai Koedoyoma and Ibrahim Kuyateh},
  title = {Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019)},
  journal = {Journal of Business and Economic Development},
  volume = {6},
  number = {3},
  pages = {148-154},
  doi = {10.11648/j.jbed.20210603.13},
  url = {https://doi.org/10.11648/j.jbed.20210603.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20210603.13},
  abstract = {In order to boost up the economic growth of any country, Exports should be considered as key factor as it contributes immensely in which Sierra Leone as a nation is no exception. Therefore, this research paper target to investigate the effect of export on the economic growth of Sierra Leone using time series data of exports and the gross domestic products ranging from 1990- 2019 which was source from the World Bank Indicators. In order to accomplish the aim of this paper, descriptive statistics, regression, correlation, Augmented Dickey- Fuller Unit root test, Johansen cointegration test, Vector Auto regression model, diagnostic test and the Pair- wise Granger causality test were the tools used to analyze the data. Based on the results from both regression analysis, it can be seen that export has a significant positive effect on the economic growth of Sierra Leone. Augmented Dickey-Fuller unit root test results shows existence of stationarity at first difference was detected, while the cointegration test results revealed that, there is no relationship between the exports and economic growth. However, the Vector Auto regressive model test revealed that, exports have a significant effect on the economic growth as well. Granger causality test, shows that both exports influence the Gross Domestic Product of Sierra leone.},
 year = {2021}
}

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TY  - JOUR
T1  - Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019)
AU  - Matthew James Turay
AU  - Isaac Tamba Issa
AU  - Ishmail Sheriff
AU  - Abdulai Koedoyoma
AU  - Ibrahim Kuyateh
Y1  - 2021/07/13
PY  - 2021
N1  - https://doi.org/10.11648/j.jbed.20210603.13
DO  - 10.11648/j.jbed.20210603.13
T2  - Journal of Business and Economic Development
JF  - Journal of Business and Economic Development
JO  - Journal of Business and Economic Development
SP  - 148
EP  - 154
PB  - Science Publishing Group
SN  - 2637-3874
UR  - https://doi.org/10.11648/j.jbed.20210603.13
AB  - In order to boost up the economic growth of any country, Exports should be considered as key factor as it contributes immensely in which Sierra Leone as a nation is no exception. Therefore, this research paper target to investigate the effect of export on the economic growth of Sierra Leone using time series data of exports and the gross domestic products ranging from 1990- 2019 which was source from the World Bank Indicators. In order to accomplish the aim of this paper, descriptive statistics, regression, correlation, Augmented Dickey- Fuller Unit root test, Johansen cointegration test, Vector Auto regression model, diagnostic test and the Pair- wise Granger causality test were the tools used to analyze the data. Based on the results from both regression analysis, it can be seen that export has a significant positive effect on the economic growth of Sierra Leone. Augmented Dickey-Fuller unit root test results shows existence of stationarity at first difference was detected, while the cointegration test results revealed that, there is no relationship between the exports and economic growth. However, the Vector Auto regressive model test revealed that, exports have a significant effect on the economic growth as well. Granger causality test, shows that both exports influence the Gross Domestic Product of Sierra leone.
VL  - 6
IS  - 3
ER  -

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Author Information

Matthew James Turay

School of Mathematics and Statistics, Beijing Technology and Business University, Beijing, China
Isaac Tamba Issa

School of Technology, Njala University, Njala, Sierra Leone
Ishmail Sheriff

School of Environmental Science & Engineering, Suzhou University of Science and Technology, Suzhou, China
Abdulai Koedoyoma

Business School, Beijing Technology and Business University, Beijing, China
Ibrahim Kuyateh

Business School, Beijing Technology and Business University, Beijing, China

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Plain Text BibTeX RIS

APA Style

Matthew James Turay, Isaac Tamba Issa, Ishmail Sheriff, Abdulai Koedoyoma, Ibrahim Kuyateh. (2021). Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019). Journal of Business and Economic Development, 6(3), 148-154. https://doi.org/10.11648/j.jbed.20210603.13

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ACS Style

Matthew James Turay; Isaac Tamba Issa; Ishmail Sheriff; Abdulai Koedoyoma; Ibrahim Kuyateh. Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019). J. Bus. Econ. Dev. 2021, 6(3), 148-154. doi: 10.11648/j.jbed.20210603.13

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AMA Style

Matthew James Turay, Isaac Tamba Issa, Ishmail Sheriff, Abdulai Koedoyoma, Ibrahim Kuyateh. Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019). J Bus Econ Dev. 2021;6(3):148-154. doi: 10.11648/j.jbed.20210603.13

Copy | Download

@article{10.11648/j.jbed.20210603.13,
  author = {Matthew James Turay and Isaac Tamba Issa and Ishmail Sheriff and Abdulai Koedoyoma and Ibrahim Kuyateh},
  title = {Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019)},
  journal = {Journal of Business and Economic Development},
  volume = {6},
  number = {3},
  pages = {148-154},
  doi = {10.11648/j.jbed.20210603.13},
  url = {https://doi.org/10.11648/j.jbed.20210603.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20210603.13},
  abstract = {In order to boost up the economic growth of any country, Exports should be considered as key factor as it contributes immensely in which Sierra Leone as a nation is no exception. Therefore, this research paper target to investigate the effect of export on the economic growth of Sierra Leone using time series data of exports and the gross domestic products ranging from 1990- 2019 which was source from the World Bank Indicators. In order to accomplish the aim of this paper, descriptive statistics, regression, correlation, Augmented Dickey- Fuller Unit root test, Johansen cointegration test, Vector Auto regression model, diagnostic test and the Pair- wise Granger causality test were the tools used to analyze the data. Based on the results from both regression analysis, it can be seen that export has a significant positive effect on the economic growth of Sierra Leone. Augmented Dickey-Fuller unit root test results shows existence of stationarity at first difference was detected, while the cointegration test results revealed that, there is no relationship between the exports and economic growth. However, the Vector Auto regressive model test revealed that, exports have a significant effect on the economic growth as well. Granger causality test, shows that both exports influence the Gross Domestic Product of Sierra leone.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Statistical Analysis on the Relationship Between Exports and Economic Growth in Sierra Leone (1990-2019)
AU  - Matthew James Turay
AU  - Isaac Tamba Issa
AU  - Ishmail Sheriff
AU  - Abdulai Koedoyoma
AU  - Ibrahim Kuyateh
Y1  - 2021/07/13
PY  - 2021
N1  - https://doi.org/10.11648/j.jbed.20210603.13
DO  - 10.11648/j.jbed.20210603.13
T2  - Journal of Business and Economic Development
JF  - Journal of Business and Economic Development
JO  - Journal of Business and Economic Development
SP  - 148
EP  - 154
PB  - Science Publishing Group
SN  - 2637-3874
UR  - https://doi.org/10.11648/j.jbed.20210603.13
AB  - In order to boost up the economic growth of any country, Exports should be considered as key factor as it contributes immensely in which Sierra Leone as a nation is no exception. Therefore, this research paper target to investigate the effect of export on the economic growth of Sierra Leone using time series data of exports and the gross domestic products ranging from 1990- 2019 which was source from the World Bank Indicators. In order to accomplish the aim of this paper, descriptive statistics, regression, correlation, Augmented Dickey- Fuller Unit root test, Johansen cointegration test, Vector Auto regression model, diagnostic test and the Pair- wise Granger causality test were the tools used to analyze the data. Based on the results from both regression analysis, it can be seen that export has a significant positive effect on the economic growth of Sierra Leone. Augmented Dickey-Fuller unit root test results shows existence of stationarity at first difference was detected, while the cointegration test results revealed that, there is no relationship between the exports and economic growth. However, the Vector Auto regressive model test revealed that, exports have a significant effect on the economic growth as well. Granger causality test, shows that both exports influence the Gross Domestic Product of Sierra leone.
VL  - 6
IS  - 3
ER  -

Copy | Download