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In this research, we examine the role of financial development, FDI, democracy and political instability on economic growth in West Africa.

The study uses the dynamic fixed effects technique on the secondary data obtained from 1996 to 2016.

Our empirical findings suggest that even though no significant relationship is established in the short run, the long-run coefficient of FDI is found to be significant and positive; a 1% increase in FDI inflow into the West African sub-region results in a 0.26% increase in economic growth. The coefficient of democracy is significant neither in the short run nor in the long run, but political instability is found to significantly and negatively impact the growth of the countries. Finally, the estimate of financial development–growth nexus follows the supply-leading hypothesis.

This research affirms the proposition that FDI is a relevant means of technology and knowledge transfers, thus resulting in increasing returns to production as a result of productive spillovers, which drives the growth of the economy. Consequently, an efficient institution – where the rule of law, political stability and economic freedom are top priorities – is a key to accelerate the growth of the West African economy. Similarly, we confirm the validity of the supply-leading hypothesis in West Africa. As such, by deepening the financial system, the growth of the subregion is propelled because an efficient financial system is a basis for sustainable development.

The applicable policies are those that promote growth through FDI, financial development, democracy and political instability. The governments of West African countries are enjoined to promote policies that attract FDI into the subregion and promote financial sector credits so that economic performances may be enhanced. In addition, the governments of West African subregion should fully entrench democratic practices and enhance a stable and sustainable political environment. This will not only restore investor confidence but will also facilitate the inflow of FDI into the West African economy.

Our study is the first to jointly examine these important growth determinants, especially in the context of West Africa. This becomes necessary in order to open the eyes of policy makers to the need for entrenched full democracy and to proffer sustainable cures to the frequent unrests in the subregion. The use of Pesaran (2007) technique of unit root is also a deviation from several existing studies. One advantage of this technique over others is that being a second-generation test, it tests variable unit root in the presence of cross-sectional dependence.

The purpose of this research was to conduct a comprehensive bibliometric analysis to explore supply chain resilience and operations management practices in the construction industry, with a particular focus on the transition from Industry 4.0 to Industry 5.0. The study addressed a significant gap in the literature regarding the impact of these advanced technologies on the construction sector’s ability to anticipate, respond to and recover from disruptions.

The methodology employed a bibliometric analysis using the Scopus database to identify key trends, influential publications and emerging research areas using keywords such as “supply chain”, “operations management”, “Industry 4.0”, “Industry 5.0” and “construction”. This approach allowed for a quantitative evaluation of existing literature, offering insights into the intellectual structure of the field.

The findings revealed that while Industry 4.0 technologies, such as IoT and AI, have enhanced the construction industry’s supply chain visibility and efficiency, the shift towards the Industry 5.0 paradigm introduces a human-centric approach that further strengthens resilience through collaboration and sustainability.

The study’s practical implications suggest to both industry and academia that embracing Industry 5.0 principles could significantly enhance the construction industry’s resilience, enabling it to withstand disruptions better and maintain project quality, timelines, and budgets in an increasingly complex global environment.

This research examines the shift from Industry 4.0 to Industry 5.0 within construction supply chains, offering a novel perspective on integrating these technologies.