Institutions and African Economies: An Overview

Augustin Fosu ()

Journal of African Economies, 2013, vol. 22, issue 4, 491-498

Abstract: This article presents an overview of the current special issue Institutions and African Economies. The findings include: (1) greater prevalence of democratic regimes improved both agricultural productivity and the overall growth of African economies, consistent with "new institutionalism"; (2) higher institutional quality involving more binding constraints on the executive branch of government would raise economic growth via increased prevalence of "syndrome-free" regimes; (3) in more democratic regimes, there is less corruption, but greater risk of conflict, from resource rents; (4) Nigeria represents a good illustrative case of the potentially corrosive nature of resource rents, with the policy implication that distributing the rents to the public might provide a solution to the resource-curse problem; and (5) while employment protection regulation does not appear consequential, greater difficulty in doing business results in less job growth in African manufacturing in the long term. Copyright 2013 , Oxford University Press.

Date: 2013
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