Analysis of the determinants of economic growth in WAEMU and BRICS countries

This study attempts to highlight the main determinants of economic growth in the BRICS and UEMOA countries using panel data analysis in order to propose stimulus measures in a perspective of moving towards emergence. Using the generalized least squares estimation method, our results suggest that public consumption expenditure, human capital, investment in physical capital, and governance are the driving forces of economic growth in the BRICS countries that can be used by the UEMOA countries to boost their growth. Our results also suggest, to a lesser degree, macroeconomic stability through inflation control and the labor force.