Institutional Determinants of Economic Growth in ECOWAS Sub-Region

Ezebuilo Romanus Ukwueze and Ekene Stephen Aguegboh
Additional contact information
Ezebuilo Romanus Ukwueze: Department of Economics, University of Nigeria, Nsukka, Nigeria,
Ekene Stephen Aguegboh: Department of Economics, University of Nigeria, Nsukka, Nigeria.

International Journal of Economics and Financial Issues, 2018, vol. 8, issue 5, 75-79

Abstract: Following neoclassical growth model, people became deeply interested in the factors that lead to economic growth, characterized by diminishing marginal returns, exogenously determined technical progress and substitutability between the factors of production, namely capital and labour. The new or endogenous growth theory enunciated different sets of factors for economic growth as human capital and innovation capacity. New wave of empiricists with the use of cross-sectional and panel econometrics identified the determinants of economic growth with better precision and confidence. The study is aimed at finding the institutional determinants of economic growth in ECOWAS countries. The panel data analysis using data collected form Quality of Governance (QoG), (1946 2012) - suggests that countries are heterogeneous, controls for heterogeneity and collinearity, from whose result shows that for all the countries studied, institutions matter for growth except for political stability. It is also evident from the results that the institutions matter for economic growth, while integration does not among ECOWAS Economies.

Keywords: Corruption; Governance; Institutional Reforms; Growth per capita; Property rights (search for similar items in EconPapers)
JEL-codes: D02 E02 O43 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijefi/article/download/6975/pdf (application/pdf)
https://www.econjournals.com/index.php/ijefi/article/view/6975/pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2018-05-12

Access Statistics for this article

International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk

More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().