Comparative Analysis of the Determinants of Growth in CEMAC Countries and High-Growth Countries
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This study analyzes the determinants of economic growth in resource-rich developing economies by comparing the CEMAC and BRICS regions over the period 2000–2023. Using a dynamic System-GMM panel approach, it assesses the roles of institutional quality, trade openness, FDI, and capital accumulation in shaping long-term growth. The findings reveal significant regional contrasts: BRICS countries benefit from strong institutional drivers particularly regulatory quality and government effectiveness while CEMAC growth is primarily influenced by demographic dynamics, with weak institutional impact. Trade openness negatively affects growth in BRICS, highlighting structural vulnerabilities in global integration. In CEMAC, the limited role of institutions suggests a pressing need for reform. This research fills an empirical gap by offering a comparative analysis of structural and institutional growth drives across distinct economic contexts. It concludes that context-specific policies, especially institutional strengthening are vital for resource-dependent regions like CEMAC to overcome stagnation and achieve sustainable economic development.