Article citationsMore>>

Pedroni, P. (2000). Fully Modified OLS for Heterogeneous Cointegrated Panels. In B. H. Baltagi, T. B. Fomby, & R. C. Hill (Eds.), Advances in Econometrics (pp. 93-130). Emerald (MCB UP).
https://doi.org/10.1016/s0731-9053(00)15004-2

has been cited by the following article:

• TITLE: Effects of Information Asymmetry and Political Governance on Investment in the WAEMU

  AUTHORS: Adama Ouedraogo, Idrissa M. Ouedraogo

  KEYWORDS: Information Asymmetry, Political Governance, Investment, WAEMU

  JOURNAL NAME: American Journal of Industrial and Business Management, Vol.16 No.5, May 15, 2026

  ABSTRACT: Investment an important determinant of economic growth in the WAEMU. Despite research on the determinants of investment, certain factors explaining investment, such as information asymmetry and governance, warrant further examination in the context of the WAEMU. This study analyzes the effects of information asymmetry and political governance on investment in this region. We used the Fully Modified Ordinary Least Squares (FMOLS) estimation method (Pedroni, 1996, 2000). We used data from 7 WAEMU countries, covering the period 2003-2023. The study found that information asymmetry and political risk have direct long-term negative effects on investment in the WAEMU. In addition, information asymmetry has indirect long-term negative effects on investment in this region. The study therefore suggests, among other things, improving information management and the quality of political governance factors within this region.