TITLE:
An Empirical Investigation of the Export-Led Growth (ELG) and Import-Led Growth (ILG) Hypotheses in Sierra Leone
AUTHORS:
Alhaji S. I. Barrie, Abdulai Sillah, Morlai Bangura
KEYWORDS:
Export-Led Growth (ELG), Import-Led Growth (ILG), Exchange Rate, Economic Growth, ARDL Model
JOURNAL NAME:
Modern Economy,
Vol.12 No.11,
November
29,
2021
ABSTRACT: This paper seeks to empirically examine the
export-led growth and import-led growth hypotheses in Sierra Leone from 1980 to
2020. It employed the ARDL bounds testing approach to cointegration. The
empirical results show that both the Export-led growth (ELG) and Import-led
Growth (ILG) hypotheses are indeed valid in Sierra Leone. However, exports
appear to be relatively more important than imports in driving economic growth
in both the short and long run horizons. It is therefore recommended amongst
others that the government continue to focus on strategies that will broaden
the export base, while at the same time create a conducive environment for
foreign investment that could result in the
importation of capital goods into the country to support growth.