Determinants of Foreign Direct Investment Inflows to ECOWAS Member Countries: Panel Data Modelling and Estimation

This article aims to investigate the explanatory factors of FDI attractiveness in the Economic Community of West African States (ECOWAS) through panel data modelling and estimation over the period 1985-2015. The findings show that stabilization of the macroeconomic environment, government consumption expenditures, domestic credit to the private sector, interest rate, gross fixed capital formation, exchange rate, economic freedom index, as well as natural resources and market size are the main FDI driving factors in ECOWAS.