IMPACT OF INNOVATION ON ECONOMIC GROWTH: A COMPARATIVE ANALYSIS OF THE ECONOMIC COMMUNITY OF WEST AFRICAN STATES AND INDIA ......

This article examines the impact of innovation on the economic performance of countries in the West African Economic Communities (ECOWAS) and India. The results of previous work show that innovation has a negative impact on economic growth in the countries of the West African Economic and Monetary Union (WAEMU) from 2009 to 2018 and India from 1996 to 2011. The comparative study with the same model and new indicator of innovation of the ECOWAS countries and India gives a result which reflects the positive effect of innovation on economic growth. Finally, relevant recommendations were made for the ECOWAS countries and India to take ownership of the content of the Global Innovation Index (GII), which served as a model for analysis, for more economic and sustainable performance