Institutions and economic growth in Africa: a spatial econometric approach
Economia Politica: Journal of Analytical and Institutional Economics, 2017, vol. 34, issue 3, 425-444
Abstract This paper uses a sample of 50 African countries observed over the period 1981–2001 in order to investigate whether and how institutional factors—i.e. democracy, legislature effectiveness and regime instability—affect the short-run GDP per capita growth. Spatial econometric tools are employed in order to control for the potential spatial dependence existing across neighbour countries. Results suggest a negative effect of democracy and regime instability on growth, while it emerges a positive effect of legislature effectiveness. Spatial externalities seem to matter: being surrounded by countries with a high level of democracy stimulates growth, while regime instability in neighbour countries plays a negative effect. The level of legislature effectiveness in neighbour countries seems to have a negligible effect on the short-run growth in the home country.
Keywords: Institutions; Economic growth; Africa; Spatial econometrics (search for similar items in EconPapers)
JEL-codes: C31 C33 E02 O43 (search for similar items in EconPapers)
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