Panel Data Analysis of International Trade in West African Sub Region

Yahaya Haruna Umar; Bamanga Muhammad; Udeme Omoren

doi:doi:10.11648/j.ajtas.20200904.14

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Panel Data Analysis of International Trade in West African Sub Region

Yahaya Haruna Umar, Bamanga Muhammad, Udeme Omoren

Published in American Journal of Theoretical and Applied Statistics (Volume 9, Issue 4)

Received: 2 February 2020 Accepted: 2 March 2020 Published: 4 June 2020

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Abstract

West African countries have suffered so much under poor economic growth rate; this issue is largely caused as a result of the poor performance in international trade, which is one of the most essential tools for economic growth. The study investigated the factors influencing international trade in West African Sub region. A Pooled OLS, Fixed Effect Model, and Random Effect Model were adopted to fit the panel regression model for the panel data sets. The study divided the models into three in other to have proper view of factors influencing international trade across West African Sub-region, each model contain the same independent variables and different dependent variables. The result shows that fixed effect model was accurate for the study. Also from the study it was observed that for the first model which use import as dependent variable, gross domestic production, foreign direct investment, and exchange rate are positively significant to import which implies that all the regressor variable influence import across west African sub region positively, while only GDP and FDI are positively significant to export and only FDI is positively significant to trade balance (TB). We therefore conclude that foreign direct investment is the key macro-economic variable that positively influences the policy of international trade across West African over the period of consideration.

Published in	American Journal of Theoretical and Applied Statistics (Volume 9, Issue 4)
DOI	10.11648/j.ajtas.20200904.14
Page(s)	106-120
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), 2020. Published by Science Publishing Group

Keywords

Panel Data, Model, Pooled OLS, West African Sub-region

References

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APA Style

Yahaya Haruna Umar, Bamanga Muhammad, Udeme Omoren. (2020). Panel Data Analysis of International Trade in West African Sub Region. American Journal of Theoretical and Applied Statistics, 9(4), 106-120. https://doi.org/10.11648/j.ajtas.20200904.14

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ACS Style

Yahaya Haruna Umar; Bamanga Muhammad; Udeme Omoren. Panel Data Analysis of International Trade in West African Sub Region. Am. J. Theor. Appl. Stat. 2020, 9(4), 106-120. doi: 10.11648/j.ajtas.20200904.14

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AMA Style

Yahaya Haruna Umar, Bamanga Muhammad, Udeme Omoren. Panel Data Analysis of International Trade in West African Sub Region. Am J Theor Appl Stat. 2020;9(4):106-120. doi: 10.11648/j.ajtas.20200904.14

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@article{10.11648/j.ajtas.20200904.14,
  author = {Yahaya Haruna Umar and Bamanga Muhammad and Udeme Omoren},
  title = {Panel Data Analysis of International Trade in West African Sub Region},
  journal = {American Journal of Theoretical and Applied Statistics},
  volume = {9},
  number = {4},
  pages = {106-120},
  doi = {10.11648/j.ajtas.20200904.14},
  url = {https://doi.org/10.11648/j.ajtas.20200904.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajtas.20200904.14},
  abstract = {West African countries have suffered so much under poor economic growth rate; this issue is largely caused as a result of the poor performance in international trade, which is one of the most essential tools for economic growth. The study investigated the factors influencing international trade in West African Sub region. A Pooled OLS, Fixed Effect Model, and Random Effect Model were adopted to fit the panel regression model for the panel data sets. The study divided the models into three in other to have proper view of factors influencing international trade across West African Sub-region, each model contain the same independent variables and different dependent variables. The result shows that fixed effect model was accurate for the study. Also from the study it was observed that for the first model which use import as dependent variable, gross domestic production, foreign direct investment, and exchange rate are positively significant to import which implies that all the regressor variable influence import across west African sub region positively, while only GDP and FDI are positively significant to export and only FDI is positively significant to trade balance (TB). We therefore conclude that foreign direct investment is the key macro-economic variable that positively influences the policy of international trade across West African over the period of consideration.},
 year = {2020}
}

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TY  - JOUR
T1  - Panel Data Analysis of International Trade in West African Sub Region
AU  - Yahaya Haruna Umar
AU  - Bamanga Muhammad
AU  - Udeme Omoren
Y1  - 2020/06/04
PY  - 2020
N1  - https://doi.org/10.11648/j.ajtas.20200904.14
DO  - 10.11648/j.ajtas.20200904.14
T2  - American Journal of Theoretical and Applied Statistics
JF  - American Journal of Theoretical and Applied Statistics
JO  - American Journal of Theoretical and Applied Statistics
SP  - 106
EP  - 120
PB  - Science Publishing Group
SN  - 2326-9006
UR  - https://doi.org/10.11648/j.ajtas.20200904.14
AB  - West African countries have suffered so much under poor economic growth rate; this issue is largely caused as a result of the poor performance in international trade, which is one of the most essential tools for economic growth. The study investigated the factors influencing international trade in West African Sub region. A Pooled OLS, Fixed Effect Model, and Random Effect Model were adopted to fit the panel regression model for the panel data sets. The study divided the models into three in other to have proper view of factors influencing international trade across West African Sub-region, each model contain the same independent variables and different dependent variables. The result shows that fixed effect model was accurate for the study. Also from the study it was observed that for the first model which use import as dependent variable, gross domestic production, foreign direct investment, and exchange rate are positively significant to import which implies that all the regressor variable influence import across west African sub region positively, while only GDP and FDI are positively significant to export and only FDI is positively significant to trade balance (TB). We therefore conclude that foreign direct investment is the key macro-economic variable that positively influences the policy of international trade across West African over the period of consideration.
VL  - 9
IS  - 4
ER  -

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Author Information

Yahaya Haruna Umar

Statistics Department, Faculty of Science, University of Abuja, Abuja, Nigeria
Bamanga Muhammad

Statistics Department, Faculty of Science, University of Abuja, Abuja, Nigeria
Udeme Omoren

Statistics Department, Faculty of Science, University of Abuja, Abuja, Nigeria

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Plain Text BibTeX RIS

APA Style

Yahaya Haruna Umar, Bamanga Muhammad, Udeme Omoren. (2020). Panel Data Analysis of International Trade in West African Sub Region. American Journal of Theoretical and Applied Statistics, 9(4), 106-120. https://doi.org/10.11648/j.ajtas.20200904.14

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ACS Style

Yahaya Haruna Umar; Bamanga Muhammad; Udeme Omoren. Panel Data Analysis of International Trade in West African Sub Region. Am. J. Theor. Appl. Stat. 2020, 9(4), 106-120. doi: 10.11648/j.ajtas.20200904.14

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AMA Style

Yahaya Haruna Umar, Bamanga Muhammad, Udeme Omoren. Panel Data Analysis of International Trade in West African Sub Region. Am J Theor Appl Stat. 2020;9(4):106-120. doi: 10.11648/j.ajtas.20200904.14

Copy | Download

@article{10.11648/j.ajtas.20200904.14,
  author = {Yahaya Haruna Umar and Bamanga Muhammad and Udeme Omoren},
  title = {Panel Data Analysis of International Trade in West African Sub Region},
  journal = {American Journal of Theoretical and Applied Statistics},
  volume = {9},
  number = {4},
  pages = {106-120},
  doi = {10.11648/j.ajtas.20200904.14},
  url = {https://doi.org/10.11648/j.ajtas.20200904.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajtas.20200904.14},
  abstract = {West African countries have suffered so much under poor economic growth rate; this issue is largely caused as a result of the poor performance in international trade, which is one of the most essential tools for economic growth. The study investigated the factors influencing international trade in West African Sub region. A Pooled OLS, Fixed Effect Model, and Random Effect Model were adopted to fit the panel regression model for the panel data sets. The study divided the models into three in other to have proper view of factors influencing international trade across West African Sub-region, each model contain the same independent variables and different dependent variables. The result shows that fixed effect model was accurate for the study. Also from the study it was observed that for the first model which use import as dependent variable, gross domestic production, foreign direct investment, and exchange rate are positively significant to import which implies that all the regressor variable influence import across west African sub region positively, while only GDP and FDI are positively significant to export and only FDI is positively significant to trade balance (TB). We therefore conclude that foreign direct investment is the key macro-economic variable that positively influences the policy of international trade across West African over the period of consideration.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - Panel Data Analysis of International Trade in West African Sub Region
AU  - Yahaya Haruna Umar
AU  - Bamanga Muhammad
AU  - Udeme Omoren
Y1  - 2020/06/04
PY  - 2020
N1  - https://doi.org/10.11648/j.ajtas.20200904.14
DO  - 10.11648/j.ajtas.20200904.14
T2  - American Journal of Theoretical and Applied Statistics
JF  - American Journal of Theoretical and Applied Statistics
JO  - American Journal of Theoretical and Applied Statistics
SP  - 106
EP  - 120
PB  - Science Publishing Group
SN  - 2326-9006
UR  - https://doi.org/10.11648/j.ajtas.20200904.14
AB  - West African countries have suffered so much under poor economic growth rate; this issue is largely caused as a result of the poor performance in international trade, which is one of the most essential tools for economic growth. The study investigated the factors influencing international trade in West African Sub region. A Pooled OLS, Fixed Effect Model, and Random Effect Model were adopted to fit the panel regression model for the panel data sets. The study divided the models into three in other to have proper view of factors influencing international trade across West African Sub-region, each model contain the same independent variables and different dependent variables. The result shows that fixed effect model was accurate for the study. Also from the study it was observed that for the first model which use import as dependent variable, gross domestic production, foreign direct investment, and exchange rate are positively significant to import which implies that all the regressor variable influence import across west African sub region positively, while only GDP and FDI are positively significant to export and only FDI is positively significant to trade balance (TB). We therefore conclude that foreign direct investment is the key macro-economic variable that positively influences the policy of international trade across West African over the period of consideration.
VL  - 9
IS  - 4
ER  -

Copy | Download