Institution and Economic Growth performance in Nigeria

Muhammad Yusuf

MPRA Paper from University Library of Munich, Germany

Abstract: Emerging consensuses among growth economists view good institutions as the key determinant of improving economic growth. This study examines weather institutions measures, such as more transparent, accountable government, rule of law, sound civil liberty and competitive political participation are precondition for implementing policies for achieving economic growth in Nigeria. In order to obtain the aforementioned objective, we employed ARDL approach to co-integration and Causality. The findings of this study indicate long run relationships between institutions and economic growth. However, on the direction of the relationship the findings suggest two –way causal relationship, which implies, economic growth and Institution causes each other. In other words despite, much rhetoric to the contrary good institutions in Nigeria requires resources, which implies that poor institutions are associated with having low income. The policy implication is that for Nigeria to achieved better institutions emphasis must be given to critical growth driven sectors.

Keywords: Institutions; Growth; Sustainable Development; Nigerian Economy (search for similar items in EconPapers)
JEL-codes: P30 (search for similar items in EconPapers)
Date: 2013, Revised 2013
New Economics Papers: this item is included in nep-afr and nep-gro
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:52356

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