Analyzing Factors Affecting Economic Growth within CEMAC Countries

In simple terms, economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time, which is most cases a year. It is measured as the percent rate of increase in real gross domestic product (GDP), usually in per capita terms. Economists have used both theory and empirical research to explain the cause of economic growth. People like Solow, Swann, and Romer have provided theoretical frameworks on which the majority of works are based. This paper aims to identify the factors affecting economic growth within CEMAC countries. A high volume of exports, plentiful natural resources, longer life expectancy, and higher investment rates have positive impacts on the growth of per capita gross domestic product developing countries. Much research needs to be done to distinguish the causes of growth in developing countries, as the scope of existing research is limited due to a lack of reliable data. To achieve the above, the paper highlights recent trends of economic growth of CEMAC countries in its first part, and then the main theories and determinants of economic growth, and finally the determinants of economic performance of a country