Do Institutions and Social Capital matter in the Economic Development of Nigeria?
Eugene Okoi Ifere () and
Naomi Onyeje Doki ()
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Eugene Okoi Ifere: Department of Economics, Faculty of Social Sciences, Federal University Lafia, Nasarawa State-Nigeria.
Naomi Onyeje Doki: SDepartment of Economics, Faculty of Social Sciences, Benue State University, Markurdi- Benue State, Nigeria.
Journal of Economic and Social Thought, 2017, vol. 4, issue 2, 232-246
This paper addresses the impact of institutions and social capital on economic development of Nigeria. It advanced an argument that economic prosperity of a country is embedded in social organizations and transformations of her institutions built from social capital. The methodology adopted was quantitative and qualitative. The results present a declining negative impact of social capital and institutional variables on economic development; affirming the importance of social capital on institutional quality. Therefore, the way forward is taking a tougher stance against abuse of power and employ mechanism of social capital to reconcile conflict among social, political and economic interest groups.
Keywords: Institutions; Social capital; Economic development. (search for similar items in EconPapers)
JEL-codes: D70 H10 O10 O40 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ksp:journ3:v:4:y:2017:i:2:p:232-246
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