Country

Dependent variable: GDP growth

Dependent variable: non-manufacturing growth

ΔMAN_t

ECM_t−1

ΔMAN_t

ECM_t−1

Coef.

t.stat.

Coef.

t.stat.

Coef.

t.stat.

Coef.

t.stat.

Benin

0.08**

1.65

−0.27*

−3.24

−0.28*

−3.97

−0.30*

−3.43

Burkina

0.06

0.99

0.01

0.21

−0.26*

−3.10

−0.01

−0.21

Cote d’Ivoire

0.19**

1.82

−0.01

−0.18

0.01

0.16

-

-

Gambia

−0.02

−0.20

0.08

1.13

−0.17

−1.59

0.07

0.97

Ghana

0.07*

2.29

−0.07*

−4.52

−0.14*

−3.56

−0.03*

−2.77

Mali

0.11

1.19

−0.22*

−4.21

−0.09

−0.77

−0.20*

−4.15

Niger

0.20*

2.33

0.05

0.87

0.01

0.06

−0.09**

−1.71

Nigeria

0.64*

4.29

−0.16*

−4.07

0.41**

1.71

−0.17*

−4.06

Senegal

0.54*

4.90

-

-

0.61*

4.12

0.44*

2.37

Sierra Leone

0.16*

3.60

-

-

0.06

0.98

−0.00

−0.01

Togo

0.21*

3.83

0.10**

1.90

0.04

0.63

−0.38*

−2.79