Global Research Society Publisher

The Impact of Blue Economy Factors On Economic Growth in Sierra Leone: A Granger Causality Test Analysis


Sr No: 6
Page No: 32-40
Language: English
Authors: Sorie Kalie Bangura*, Emmanuel Bongay
Published Date: 2025-04-22
Abstract:
This study investigates the impact of blue economy factors on Sierra Leone’s economic growth from 1990 to 2023, using GDP as the dependent variable. It examines the contributions of Ocean Trade, Fisheries, Aquaculture, and Agriculture, emphasizing the importance of sustainable marine resource management in alignment with Goal 14 of the United Nations Sustainable Development Goals (SDGs), which advocates for the sustainable use of ocean resources. The analysis employs an econometric time series approach, utilizing secondary data collected between 1990 and 2023. The Granger Causality Test was conducted to determine the causal relationships between the independent variables and GDP growth. Findings reveal that blue economy factors significantly contribute to Sierra Leone’s economic progress. Ocean Trade enhances economic activity through increased maritime commerce and revenue generation. Fisheries play a pivotal role in ensuring food security and providing employment opportunities. Aquaculture supports economic diversification by complementing traditional fisheries, while Agriculture is a critical control variable in understanding broader economic dynamics The study underscores the need for sustainable management and strategic investment in the blue economy to ensure long-term economic growth. Key recommendations include prioritizing Ocean Trade, Fisheries, and Aquaculture investments, fostering international partnerships, and implementing policies promoting sustainable practices. These measures aim to harness the untapped potential of Sierra Leone’s ocean resources, foster economic transformation, and advance the nation’s development agenda. The findings affirm the blue economy as vital to Sierra Leone's sustainable growth, offering valuable perspectives for policymakers to drive development .
Keywords: Blue Economy; Economic Growth; Granger Causality Test

Journal: GRS Journal of Multidisciplinary Research and Studies
ISSN(Online): 3049-0561
Publisher: GRS Publisher
Frequency: Monthly
Language: English

The Impact of Blue Economy Factors On Economic Growth in Sierra Leone: A Granger Causality Test Analysis