The economic performance of CEMAC countries is severely poor, when compared to other communities of the same region. It is on the bases of this background, that this paper purports to empirically investigate the potential key drivers of economic performance in the CEMAC zone. Specifically, the study attempts to scrutinise the effect of: (a) educational expenditure, (b) gross physical capital formation, (c) public health expenditures, and (d) private health expenditure on economic performance. To ascertain these objectives, data is sourced from the World Bank Development Indicators (WDI) of 2017 and used is made of both descriptive and inferential statistics. The Panel-corrected standard errors (PCSE) regression model was employed to test the objectives, due to its capacity to produce appropriate standard error estimates with very insignificant loss of efficiency. The empirical findings, among others suggested that, all forms of investments included in the model, significantly influenced the economic performance of countries in the CEMAC sub-region. Specifically, the results showed that educational expenditure and gross physical capital formation positively influence economic performance in the CEMAC zone. Intriguingly, public and private health expenditures negatively influence economic performance in the said zone. The policy implications of these findings suggest that, emphasis should be laid on increasing investment on government's educational expenditure and gross physical capital formation in the CEMAC zone, if economic performance must be revived. Contribution/Originality:This study uses panel corrected standard errors approach, to scrutinize the causal relationship between the CEMAC economic performance and variables like educational expenditure, gross physical capital formation and public and private health expenditures. INTRODUCTIONWith the incessant depreciation of physical capital investment, human capital investments are gaining ground in the modern-day economics literature. According to Edielle (2005) investment in human capital has not been of any importance before the 1960s as people were considered as machines. Previously to this date, the concept of capital was limited only to physical capital while expenditures on health and education were regarded as consumption and not investments. In this light, several researchers became bothered as this old-fashioned approach could not explain the rapid economic growth rate observed in most developed countries in the likeness of USA.
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