Country

Long-run estimates

Short-run estimates

GDP

RP

FDI

REM

∆GDP

∆RP

∆FDI

∆REM

ECT

Benin

0.305 (0.20)

0.902* (2.17)

0.191 (1.41)

0.151 (1.57)

2.671* (2.16)

0.245

(0.82)

0.064

(0.73)

0.142**

(1.87)

−0.996*

(−4.76)

Burkina Faso

1.416* (2.64)

0.447 (1.53)

−0.081

(−1.15)

0.003 (0.05)

2.104*

(3.07)

0.368**

(1.88)

−0.060

(−1.05)

−0.024

(−0.31)

−0.492*

(−2.53)

Cote d’Ivoire

1.008* (2.52)

0.129 (0.82)

0.529* (2.57)

−0.033 (−0.27)

1.466*

(2.88)

0.115

(1.19)

0.247*

(2.03)

0.054

(0.70)

−0.492*

(−3.65)

Ghana

7.852* (5.23)

0.749* (3.40)

−0.789* (−4.24)

0.018 (0.24)

2.407*

(1.59)

0.770*

(3.75)

−0.138

(−0.62)

−0.004

(−0.08)

−0.337*

(−2.33)

Mali

0.141 (0.26)

0.008 (0.03)

0.019 (0.33)

0.269* (2.09)

0.753**

(1.81)

0.344

(1.50)

−0.052

(−0.88)

0.184*

(2.24)

−1.037*

(−6.32)

Niger

1.858* (3.18)

−0.489** (−1.69)

−0.156

(−1.47)

0.186** (1.78)

0.931

(1.48)

−0.304

(−1.18)

0.087

(0.87)

−0.004

(−0.06)

−0.652*

(−3.21)

Nigeria

2.521* (3.16)

0.451** (1.92)

0.332* (4.13)

0.186* (2.82)

1.768**

(1.65)

0.167

(0.64)

0.321

(1.40)

0.162*

(2.59)

−0.916*

(−4.54)

Senegal

−1.686*

(−2.15)

0.672* (2.27)

0.207* (1.99)

0.448* (2.93)

0.100 (0.16)

1.162* (4.45)

0.077 (0.77)

0.001 (0.01)

−0.527*

(−2.92)

Togo

1.798* (2.78)

0.238 (1.60)

0.211** (1.70)

−0.011 (−0.13)

1.840* (2.99)

−0.012

(−0.08)

0.284* (2.61)

0.133 (1.35)

−1.136*

(−5.53)