The Impact of Timber Export on Economic Growth in Sierra Leone

Abstract

Sierra Leone is one of thenatural resource-based economies in Africa that relies on its natural resource exports for growth. This study examines the impact of timber export on economic growth in Sierra Leone between 1990 and 2020 using time series data from the Statistic Sierra Leone and World Development Indicators. The analysis uses cointegration and error, correction models. The findings from the result showed that timber export has an insignificant effect on the economic growth of Sierra Leone in both the short and long run. The findings recommend, among other things, that policies aimed at increasing the productivity and quality of timber be implemented. Furthermore, the additional value needs to be added to the timber before exporting. Correspondingly, the professional knowledge and expertise needed to transform the harvested timber to final products made available by training local technicians in the timber processing value chain.