TITLE:
Characterization of the Economic Growth of Côte d’Ivoire from 1960 to 2021: An Application of the Bai-Perron Multiple Break Test Approach
AUTHORS:
Yao Jean Eudes Koffi, Kouakou Serge Roland Blé Acca, Bi Goli Jean Jacques Iritié
KEYWORDS:
Economic Growth, Bai-Perron Multiple Break Test Approach, Structural Change, Côte d’Ivoire
JOURNAL NAME:
Modern Economy,
Vol.15 No.9,
September
27,
2024
ABSTRACT: The objective of this work is to characterize the economic growth of Côte d’Ivoire over the period from 1960 to 2021. It is justified by the series of economic, institutional and governance, or economic policy shocks that the country has experienced since its accession to independence. In fact, these shocks can have effects that could upset economic activity at any time. With time series data on the Gross Domestic Product (GDP), capital, labor, and trade openness covering the period of the study, we use the Bai-Perron multiple break test applied to a Solow-type economic growth model in open economy. The results show a maximum of five significant break dates at the 5% threshold. These dates are 1971, 1981, 1990, 1999 and 2010. They determine six structural regimes during which the elasticities of the gross domestic product in relation to the exogenous variables change.