Senegal'de ekonomik büyümenin belirleyicileri

This research aims to examine the macroeconomic determinants of economic growth in Senegal using time series data over the period 1974 to 2019. The study applies the bound test procedure to find out if there is a cointegration or not, the ARDL model to investigate the relationship between GDP growth and independent variables (inflation, external debt, foreign aid, and foreign direct investment), the Toda Yamamoto causality to analyse the causal relationship between variables. The empirical results show the variables are cointegrated. In long run, external debt has positive and significant impact on GDP growth while foreign direct investment has negative effect and insignificant on GDP growth. However, inflation has a negative impact but is insignificant on GDP growth, and foreign aid has a negative impact and significant on GDP growth. The short-run results show that foreign direct investment has positive and significant impact on GDP growth while external debt has negative and insignificant effect on GDP growth and inflation has positive impact but insignificant on GDP growth. The Toda Yamamoto causality results show that there is bidirectional causality between GDP growth and the following determinants inflation, external debt, and foreign aid while there is unidirectional causality between GDP growth and foreign direct investment. Hence, external debt is an important determinant of growth in Senegal. Keywords: Research Performance, Economic Growth, Bound Test, Toda Yamamoto Causality, Senegal.